European windstorm represents the largest risk in an Industry Exposure Database (IED) compiled by Zurich-based catastrophe data company Perils.

The company says the database contains information on property market sums insured that are exposed to natural perils, with the updated $US85 trillion ($118 trillion) total including countries in Europe and the Asia-Pacific region.

European windstorm has an insured values exposure of €64.8 trillion ($94.9 trillion) as of January 1, representing year-on-year growth of 5.2%.

The database includes Australia, Austria, Belgium, Denmark, France, Germany, Ireland, Indonesia, Italy, Luxembourg, the Netherlands, New Zealand, Norway, the Philippines, Sweden, Switzerland, Thailand, Turkey and the UK. Information for Canada, compiled by subsidiary CatIQ, will be released next month.

Perils says for Australia sums insured growth was around 4% in local currency terms, year-on-year, with the level “slightly higher in private lines, slightly lower in commercial lines”. The company did not publicly release a dollar figure.

The company says the latest IED, based on sum insured information received from more than two thirds of the market across all territories covered by Perils, contributes to better understanding of catastrophe risk.

“Our exposure and loss data are based on identical sources and methodology,” Perils Asia-Pacific Head Daryl Pidcock said.

“This consistency eliminates basis risk which is key when validating catastrophe models, analysing the vulnerability of insured assets, or assessing the expected loss costs of industry-loss-based risk transfer products.”