Catastrophe insurance data to prepare Europe for risks
Powerful European insurers and reinsurers have joined forces to form a new company that will provide European catastrophe insurance data industry-wide.
Called simply “Perils”, the Swiss-based company aims to improve the insurance and reinsurance industry’s understanding of the frequency and severity of natural catastrophes using data voluntarily provided by European-based insurers.
Perils’ founding shareholders include Allianz, Axa, Groupama, Guy Carpenter, Munich Re, PartnerRe, Swiss Re and Zurich.
The company will provide subscribers with insurance exposure data that will be catalogued by risk type and Catastrophe Risk Evaluating and Standardising Target Accumulations (Cresta) zones, and industry loss estimates after large natural catastrophes.
Perils aims to be up and running by the second half of the year and will focus initially on Belgium, Denmark, France, Germany, Holland, Ireland, Luxembourg, Switzerland and the UK.
Called simply “Perils”, the Swiss-based company aims to improve the insurance and reinsurance industry’s understanding of the frequency and severity of natural catastrophes using data voluntarily provided by European-based insurers.
Perils’ founding shareholders include Allianz, Axa, Groupama, Guy Carpenter, Munich Re, PartnerRe, Swiss Re and Zurich.
The company will provide subscribers with insurance exposure data that will be catalogued by risk type and Catastrophe Risk Evaluating and Standardising Target Accumulations (Cresta) zones, and industry loss estimates after large natural catastrophes.
Perils aims to be up and running by the second half of the year and will focus initially on Belgium, Denmark, France, Germany, Holland, Ireland, Luxembourg, Switzerland and the UK.