The CRESTA organisation was established by the insurance and reinsurance industry in 1977 as an independent body for the technical management of natural hazard coverage.
CRESTA's main goal is to establish a uniform and global system to transfer, electronically, aggregated exposure data for accumulation risk control and modelling among insurers and reinsurers. Today, the standards are generally accepted and applied throughout the insurance industry worldwide. Although the information provided here is available to everyone, it is aimed primarily at the insurance industry.
CRESTA's main tasks are:
- Determining country-specific zones for the uniform and detailed reporting of exposure data usually relating to natural hazards.
- Promoting a template to exchange exposure data in the industry based on the ACORD standard
- Offer a mapping service to visualize values based on CRESTA zones
None of the listed and published works is in any way binding.
CRESTA makes no recommendations on the insurance and reinsurance of natural hazards but merely seeks to provide information on existing regulations.