PERILS AG, a Zurich-based catastrophe insurance data provider, has announced the inclusion of Severe Convective Storm (SCS) industry loss reporting for Europe, Japan, and New Zealand.
The new service builds on PERILS’ existing SCS coverage in Australia and Canada.
In Europe, the service will cover Austria, Belgium, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Switzerland, and the United Kingdom.
Starting 1st August 2025, it will capture SCS industry losses exceeding EUR 500m, JPY 100bn, and NZD 300m, respectively, across property and motor lines of business.
In line with the PERILS CORE methodology, SCS market exposures and event losses will be based on data collected directly from participating insurers at the CRESTA zone and line-of-business level. The resulting industry data can support a range of applications, including risk assessment, structuring of triggers for industry-loss-based risk transfer products, and catastrophe risk model validation.
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Christoph Oehy, CEO of PERILS, said, “The inclusion of the peril of severe convective storm in the PERILS CORE product is a response to widespread market demand and marks the achievement of an important goal for 2025. We thank our data-providing insurance partners for the strong support which has made this possible.
“SCS is an important and growing peril for the insurance industry globally. Access to data on exposures and losses is key for understanding the SCS risk, as it is for all other natural perils. Yet in the past, reliable and systematic industry data was largely unavailable. Since 2009, through the consistent application of our from-ground-up PERILS CORE approach and with the continuous support of the insurance industry, PERILS has worked to address this data shortfall. This will not only help to improve Cat models and risk assessment in general but also facilitate new risk capital through the use of PERILS as a reporting agency for SCS-focused industry-loss-based risk transfer products.”
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