PERILS to assume CRESTA Secretariat
Friday, 09 14 2018, Category: Nature, Country: World
Zurich-based catastrophe loss data aggregator PERILS has announced that it has taken over responsibility for the ongoing management of the CRESTA Secretariat, the global standard for managing natural perils insurance data.
Established by the insurance and reinsurance industry in 1977 as an independent body, the Secretariat has previously been managed on a rotational basis by Munich Re and Swiss Re.
CRESTA is currently applied in more than 130 countries and manages perils data by establishing and maintaining a uniform global system of risk accumulation zones that can be used for modelling and risk transfer purposes.