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Reinsurance News: Global economic output at risk from man-made events

Man-made risks, such as market crash and cyber-attacks, now account for 60 per cent of the total economic output at risk in major cities globally, says a report by the Centre for Risk Studies at Cambridge Judge Business School. The Lloyd’s City Risk Index tracked 279 cities around the globe and shows a 16 per cent increase in GDP@Risk from last year. Professor Daniel Ralph, Director of the Centre for Risk Studies, said: “Lloyd’s City Risk Index helps governments, businesses and the insurance sector understand the economic implications of a variety of man-made and natural risks.”

Read the full article [reinsurancene.ws]