PERILS produces event loss information relating to qualifying Australian Cat, Canadian Cat, Europe Windstorm, Flood and Hail/Convective Storm, Italy Earthquake and Hail/Convective Storm, Japan Flood, Tropical Cyclone and Hail/Convective Storm, New Zealand Cat, Turkey Earthquake and Flood.
The loss numbers shown are not indexed and represent original losses at the time of the event.
When PERILS concludes that an event has the potential to cause a significant re/insured property market loss in the countries covered by PERILS, the event will be investigated to establish whether it can be considered a qualifying event (Status: ‘Under Investigation’).
If the investigation shows that the event is not considered qualifying then PERILS will close the investigation (Status: ‘Non-qualifying Event’).
If the investigation confirms that the event is likely to exceed the threshold or to have a significant impact, PERILS will capture all relevant data from the event and produce reports in line with the PERILS reporting schedule (Status: ‘Qualifying Event’).
PERILS will only report loss information if PERILS determines, in its sole discretion, that a particular event has resulted in total insured property losses above a certain threshold in the Covered Territories (Status: ‘Qualifying Event’). For Extratropical Windstorms and Floods in Europe, this threshold is EUR 500m for pan-European events and EUR 300m for individual countries. For Hail/Convective Storms the reporting threshold is EUR 500M. For Earthquakes and Floods in Italy and in Turkey the reporting threshold is EUR 300m. For Hail/Convective Storms in Italy the reporting threshold is EUR 500m. For natural catastrophe events in Australia, this threshold is AUD 500m. For natural catastrophe events in Canada, this threshold is CAD 300m. For natural catastrophe events in New Zealand, this threshold is NZD 300m. For Floods, Tropical Cyclones and Hail/Convective Storms in Japan, this threshold is JPY 100bn. For loss events below these reporting thresholds, PERILS will generally not report any loss information.
PERILS classifies an event following the peril which acts as the primary contributor to the overall insured property loss. For example, PERILS typically classifies an event as a Europe Windstorm event if losses caused directly or indirectly by wind form the main part of the overall insured property loss.
PERILS, using its professional judgment and in its sole discretion, identifies and designates an unique PERILS event identification number, an event name, an event start and end date as well as a classification of the event according to the prevailing cause of the insured losses (Bushfire, Earthquake, Extratropical Windstorm, Flood, Hailstorm, Tropical Cyclone). In making these judgments, PERILS considers factors such as objective scientific data, event identification by governmental or scientific authorities, as well as information received from the data providing insurance companies and the likely prevailing event definition used by reinsurance buyers and sellers.
PERILS captures data for the following markets:
AUS: Australia / AUT: Austria / BEL: Belgium / CAN: Canada / CHE: Switzerland / DEU: Germany / DNK: Denmark / FRA: France / GBR: the United-Kingdom / IRL: Ireland / ITA: Italy / JPN: Japan / LUX: Luxembourg / NLD: the Netherlands / NOR: Norway / NZL: New Zealand / SWE: Sweden / TUR: Turkey
While efforts are being made to keep this web site helpful and accurate, all information provided below is subject to change without notice.
While a total event loss figure is made publicly available, subscribers to the PERILS Industry Exposure & Loss Database have access to loss data by country, CRESTA Zone and occupancy type (residential property, commercial property, industrial property and agricultural property).
