Zurich-based catastrophe insurance data provider PERILS AG has increased its industry loss estimate for the floods in the Emilia-Romagna region of Italy during May to €488 million.
According to PREILS, the loss estimate covers the property lines of business and is based on loss data collected from the Italian insurance market.
This new figure compares to the initial loss estimate of €377 million, which was issued by PERILS on 5 July 2023, six weeks after the event end date.
