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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.
01 Oct 2020
This 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.
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