PERILS improves availability of natural cat data
The insurance industry initiative believes the availability of improved market data will lead to additional European windstorm capacity.
PERILS AG, an insurance industry initiative aimed at improving the availability of catastrophe insurance market data, will launch a suite of products at the start of 2010 that it believes will ultimately lead to additional capacity in the European windstorm market.
The data provided by the new company, founded in January, will be useful for portfolio steering and optimisation, and the development of more realistic natural catastrophe models, said PERILS chief executive officer Luzi HITZ in a presentation at Guy CERPENTER's Baden-Baden Reinsurance Symposium on Sunday.
Of the current models for European windstorm exposure offered by modelling firms, there is a "huge discrepance from one model to another", HITZ said. That poses a problem for reinsurance managers trying to decide how much capacity to buy.
Published on 29.10.2009
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