Zurich - 12 Sep 2022
PERILS expands coverage to include European Flood
PERILS expands its market coverage to include exposure and event loss data for European Flood
PERILS today announced that it has extended its market coverage to include exposure and event loss data for the peril of flood in Europe. The new service is in addition to PERILS’ windstorm coverage in Europe and covers Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Sweden, Switzerland, and the United Kingdom. The industry exposure data for the listed countries can be accessed via the PERILS Portal. In addition, event losses caused by flood that generate industry losses of EUR 500m or more will be captured as from today.
PERILS is deeply grateful for the support received by the European insurance industry, which made this major development possible.
PERILS has also announced that it has raised the loss capturing threshold for extratropical windstorms in Europe to EUR 500m from EUR 200m. The adjustment in the threshold is driven by market growth and claims inflation over the last 13 years since PERILS was established.