We have reported previously on the formation of PERILS AG to collect and provide industry-wide European catastrophe insurance data (click here for our most recent post).
On 3 December 2009, PERILS announced the launch of its Industry Loss Index Service for European windstorm events. The service will provide index values which can be used in industry loss based products, including insurance linked securities (ILS) and industry loss warranty (ILW) products.
Index values will be based on information provided by more than 50 insurance and reinsurance companies (a number which is expected to grow steadily) and will be made available six weeks after an event, with updates after three, six and twelve months.