Today, Lloyd’s has launched a ground-breaking new study that for the first time quantifies the potential economic impact of various manmade, natural and emerging threats on the world’s leading cities.
Lloyd’s City Risk Index 2015-2025 looks at the projected GDP of 301 cities over a ten-year period and calculates how much of it is at risk from 18 specific threats. That figure totals $4.56 trillion, which represents a significant drag on future economic development.
The Index, developed in partnership with Cambridge University’s Centre for Risk Studies, can be analysed by location and threat type. Data on each of the cities can be downloaded from the site, with further analysis available for 50 of the main locations.
Case studies for each threat analyse real-world disasters, and their social and financial consequences. Examples of Lloyd’s insurance cover for risks associated with each threat are also included.
The Index is intended to stimulate discussion – and, where appropriate, prompt innovation – between insurers, governments and businesses to help to improve resilience, mitigate risk and protect infrastructure.
To explore Lloyd’s City Risk Index 2015-2025, go to lloyds.com/cityriskindex.