Zurich-based catastrophe data company Perils has extended its market coverage to include Australia.

Perils’ database now includes market-wide property sums insured exposed to bushfire, earthquake, flood, hail, and tropical and extra-tropical cyclones in Australia.

It also provides event loss data for any events above a market loss of $500 million.

“The inclusion of Australia is a major new development in the evolution of Perils, because it represents the first addition of a country within the Asia Pacific region in our market coverage,” CEO Luzi Hitz says in a statement.

“We are particularly grateful for the support we have received from the insurance industry in Australia.

“Going forward, our target is to add more territories in Asia Pacific.”

IAG Chief Customer Officer Julie Batch says Perils “opens up new opportunities for insurers, industry and the Government and represents a significant step forward in data-driven capital innovation”.

Perils already offered coverage of Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Sweden, Switzerland, Turkey, and the UK.