A world at risk
Closing the insurance gap
A world at risk, Lloyd’s second underinsurance report, produced with CEBR, shows there is global underinsurance of $162.5bn in 2018.
This shows there is a significant gap between the level of insurance in place to cover global risks, and the actual cost to businesses and governments of rebuilding and recovering from major catastrophes.
Lloyd’s published its first underinsurance report in 2012. This 2018 version includes all the latest non-life underinsurance and insurance penetration data for natural catastrophes for 43 countries across the globe, revealing in detail insurance levels across multiple regions and industries. The report also analyses ﬂood insurance in more detail and looks at how cyber insurance can help businesses reduce the impacts of cyber-attack, one of the fastest-growing emerging risks. By understanding the state of global insurance and underinsurance, policy officials, business leaders, communities and insurers can identify where insurance gaps exist and work together to close them.