CatIQ launches first industry exposure database

Catastrophe Indices & Quantification Inc. (CatIQ) has launched Canada’s first insurance Industry Exposure Database (IED), developed with the support of the Canadian P&C industry and in partnership with Zurich-based PERILS AG. The IED contains 2016 and 2017 year-end estimates of Canadian industry property sums insured by: Canada Post Forward Sortation Area (FSA), peril (windstorm, hail, fire, flood, sewer back-up, earthquake and volcanic eruption), line of business (personal, commercial, and motor hull) and cover type (building, vehicle, contents, business interruption and additional living expense, where applicable)

CatIQ’s IED is based on detailed exposure submissions from a majority of the Canadian Insurance market. Consistent with PERILS’ methodology, CatIQ’s IED will be refreshed annually each spring effective 2019.

The first such industry loss estimates will be released in August 2018 for the 2016 Fort McMurray Fire and the damaging windstorm that occurred in early May 2018 across southern Ontario and Quebec.

The addition of Canada brings to 16 the number of territories currently covered by the PERILS Industry Exposure and Loss Database, which also includes: Australia, Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Sweden, Switzerland, Turkey, and the United Kingdom.