This study provides technical recommendations for a European approach to standardize loss databases. Loss data are useful for the implementation of disaster risk reduction strategies in Europe and to help understand disaster loss trends at global level. Taking stock of existing work, the study defines a conceptual framework for the utility of loss data which allows a cost-benefit analysis of implementation scenarios. The framework considered loss accounting, disaster forensics and risk modelling as key applications. The report recommends that, depending on the scale (detail of recording) and scope (geographic coverage), technical requirements will be more or less stringent, and costs of implementation will vary accordingly.