A new Lloyd’s Emerging Risks report focusing on cities & trends
Toronto, ON (Oct. 8, 2020) – Cities are now the most important entities in society. More than half the world’s population now lives in urban areas and this is projected to reach two-thirds by 2050, and they are the engines of the global economy.
Yet cities all over the world are facing multiple challenges, such as climate change, cyber risks and pandemics, and are looking to strengthen their resilience.
This new Lloyd’s report, commissioned before COVID-19 and published in collaboration with Urban Foresight and Newcastle University, provides a comprehensive analysis of the risks’ cities are facing and will face in the future. It looks at their impacts and how urban areas can protect themselves from these threats.
It also suggests ways in which insurers and the relevant authorities could work together to build resilience, reduce risks and develop new insurance products and services that meet cities’ risk needs. This study helps city administrators and risk managers, as well as Lloyd’s market insurers and brokers, understand the risks that will influence the design and function of cities in the coming decade, and how insurance product development could respond to these changes.
Download the report from Lloyd’s.
Lloyd’s is the world’s leading insurance and reinsurance marketplace. Through the collective intelligence and risk-sharing expertise of the market’s underwriters and brokers, Lloyd’s helps to create a braver world. The Lloyd’s market provides the leadership and insight to anticipate and understand risk, and the knowledge to develop relevant, new and innovative forms of insurance for customers globally. It offers the efficiencies of shared resources and services in a marketplace that covers and shares risks from more than 200 territories, in any industry, at any scale. And it promises a trusted, enduring partnership built on the confidence that Lloyd’s protects what matters most: helping people, businesses and communities to recover in times of need. Lloyd’s began with a few courageous entrepreneurs in a coffee shop. Three centuries later, the Lloyd’s market continues that proud tradition, sharing risk in order to protect, build resilience and inspire courage everywhere. For more information, visit www.lloyds.com.
Source: Lloyd’s of LondonTags: emerging risks, Lloyd's, outlook / predictions, resilience, trends