Catastrophe data specialist Perils has added severe convective storms in New Zealand, Japan and Europe to its industry exposure database.

The database details natural peril exposures in 21 countries, with $US108 trillion ($169 trillion) of insured property assets included in the update for this year.

Head of Perils Asia-Pacific Darryl Pidcock says there was growing demand to add severe convective storms (SCS) for more markets following the previous inclusions of Australia and Canada.

In the EU, this was driven by events in Italy, France and Germany that caused significant losses to the industry.

“For New Zealand and Japan, while SCS is not as major a peril compared to earthquake, there are SCS events from time to time that have caused losses to the industry,” Mr Pidcock told insuranceNEWS.com.au.

“As SCS often generates hail, which can cause significant damage to motor portfolios, we also decided to include motor alongside property to provide a broader coverage of exposures for these ... markets.”

The insured property assets total in this year’s database represents exposure growth of 3.9% year on year at constant US dollar exchange rates, but a 2.8% decline at variable exchange rates, reflecting the US currency’s strengthening last year.

The database is produced by collecting sum insured information from most of the market across all territories covered. Sums insured are available by CRESTA zone, line of business and coverage type. The in-force date of the exposure data is January 1 this year.

Countries in the database include Australia, Austria, Belgium, Canada, Denmark, France, Germany, Ireland, Indonesia, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Norway, the Philippines, Sweden, Switzerland, Thailand, Turkey and the UK.