Large Loss Statistics

RISCAuthority has completed a significant update to the large loss database (LLDB), with improved data accessibility and security, analysis and reporting tools; and an extended scope to incorporate flood data in addition to fire.

The LLDB is a repository of important information on significant fire losses within the UK. RISCAuthority originally introduced this system many years ago to replace the paper-based methods formally administered by ABI as described in the ‘Blue Book’. Submissions to the database are made on insurers’ behalf by the loss adjusting community - usually as part of their contract - for incidents that have a total loss value (ignoring deductibles, averaging, repudiation and withdrawn components) in excess of £100,000, or which involved a fatality.

The usefulness of the recorded data cannot be underestimated in terms of supporting the lobbying work done by RISCAuthority and its members in pursuit of reducing future losses. It is also underpins new intelligent risk control toolkits such as the business and property protection portal.

A major project was instigated in 2020 by RISCAuthority’s executive committee to update the LLDB’s data collection system, with a view to providing:

  1. Improved data security;
  2. Information that was more strategically relevant;
  3. An extended scope that would include flood in addition to fire;
  4. Improved accessibility; and
  5. Data analysis tools.

Items 1 to 4 have been completed, and culminated in a completely new website where loss adjusters can enter and upload data for both fire and flood related losses.

Access to data and new analysis tools are due early 2021.