More and better climate-related risks and loss data is a key part of the climate change adaptation strategy.
EIOPA's data hub includes exposure and loss data of a sample of European insurance undertakings.
Who can use this data and how:
- Policy makers: in order to take adequate prevention measures, member states and the European Commission need to know what the exposure and overall losses are and which portion is privately insured
- Insurance supervisors: to understand the size of the insurance exposure and catastrophe losses, assess capital requirement calibration, understand the insurance protection gap, perform financial stability analysis and supervisory analysis
- The insurance sector: to get access to a more complete view on loss data and to foster further development of catastrophe models (as loss data is, for example, used to calibrate models)
- Academics: to develop independent models and studies
The catastrophe data hub brings together data related to natural catastrophes.
It presents the data in two different views:
- Insured exposure view: it indicates the insured exposure to flood and windstorm of residential and commercial buildings
- Insured losses view: it shows the incurred for buildings reported by the insurance undertakings or groups in the sample. It covers three types of events: a flood event, a wildfire and a windstorm.
It uses a sample of 35 large European groups active in non-life business and 9 non-life and composite solo undertakings with relevant exposure to fire and other damages to property business.
The current data are based on a subset of insurance companies. They do not represent the 100% market view.
EIOPA will include more perils and more data to the Catastrophe Data Hub in the future.