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
Key features
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.
Note:
The current data are based on a subset of insurance companies. They do not represent the 100% market view.
Data was collected during an ad-hoc data collection in 2021. This data has been used for the insurance protection gap dashboard, the physical risk study and the thematic article of the June 2023 FSR.
EIOPA will include more perils and more data to the Catastrophe Data Hub in the future.