Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) published a draft rule to simplify and standardise how insurers identify the structural typology of buildings insured against natural disasters such as earthquakes and tsunamis, aiming to improve the quality of catastrophe exposure information used to estimate potential losses and the catastrophe risk reserve. The proposal would introduce a “Manual of procedures for the classification of a building according to its structural typology”, developed by the Peruvian-Japanese Center for Seismic Research and Disaster Mitigation (CISMID) at the National University of Engineering, aligned to SBS categories. The manual includes guidance for identifying structural typologies, parameters affecting structural response sensitivity, visual identification criteria and infographic glossaries. The draft also clarifies existing requirements on the calculation date for catastrophe exposure and data submission, the estimation approach for structures considered special, and the application of reinsurance contracts that transfer catastrophe risk abroad, supporting SBS-run software scenarios fed by insurer-reported data. Comments and suggestions from industry and the public are open until 11 August 2025.
Superintendencia de Banca, Seguros y AFP del Peru 2025-07-10
Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators consults on manual to standardise insurers’ building-structure classification for catastrophe risk reporting
Peru's SBS released a draft rule to standardize insurers' identification of building typologies for natural disaster coverage. The proposal includes a manual by CISMID for classifying buildings, detailing structural typologies, sensitivity parameters, and reinsurance applications. The draft aims to enhance catastrophe exposure data quality for loss estimation and risk reserve calculations.