Commercial property insurer FM has launched a global hail hazard map in response to rising losses.

The tool expands on the company’s hazard mapping in Australia and the US, which experience some of the world’s most costly hail events.

It will help organisations anticipate risk and invest in more resilient buildings, Australian operations manager Andrew Stafford says.

“Australia has a relatively regular frequency of severe thunderstorms that can produce large hailstones, particularly along the eastern seaboard, which can quickly translate into significant property loss,” he added.

Changing climate conditions – including increasing frequency and severity of convective storms – have made hail one of the fastest-growing contributors to property loss in the past decade, according to the company.

“For many global companies, hail now represents a rising threat to business continuity, with losses and disruption commonly stemming from damage to roofs, facades, yard storage and roof-mounted equipment, including [heating and cooling] systems and solar panel installations.”