Swiss catastrophe data company Perils has expanded its reporting to include Australian personal and commercial motor.

Australian motor will be included as part of Perils’ industry exposure update to be released in April, and market-wide motor sums insured exposed to earthquake, flood, tropical cyclones, extratropical cyclones, hailstorms and bushfires will be made available.

The company, which is owned by several global reinsurers and reinsurance brokers, already reports on Australian property losses. It will now provide loss data for any events above $500 million caused by the named perils, for property and motor market losses combined.

Perils CEO Luzi Hitz says the expansion would not have been possible without the support of the insurance industry in Australia.

“It is yet another enhancement to our offering to fulfil our mission to increase data availability and transparency in the field of natural catastrophe insurance, and to also enhance the availability of capacity into this important market.”

Head of Perils Asia Pacific Darryl Pidcock says this will be the first time motor exposure and loss data has been available in the Australian market.

“Perils has been covering the Australian market for nearly three years, during which time we have been increasingly asked by the industry to provide motor exposure and loss data,” he said.

“Motor is a major line of business in the Australian market and is a significant contributor to losses, as we observed in more recent events such as the Sydney hailstorms in December 2018 and the Australian hailstorms in January 2020.”