Gov. Ridge Participates in Lloyd’s City Risk Index Forum
WASHINGTON, DC (February 17, 2016) – Lloyd’s City Risk Index 2015-2025 (lloyds.com/cityriskindex) presents the first ever analysis of the economic output at risk in 301 major cities from 18 man made and natural threats over a ten-year period.
Based on original research by the Cambridge Centre for Risk Studies at the University of Cambridge Judge Business School, the Index finds that a total of $4.6trn of 301 cities’ projected GDP is at risk from all threats – out of a total projected GDP between 2015 and 2025 of $373trn.
Speaking at the joint Lloyd’s and American Security Project event in Washington DC, Gov. Ridge stressed to attendees the importance of managing risk before it manages you. He was joined by LtGen. Norm Seip, USAF (Ret.), Daniel Wagner, CEO, Country Risk Solutions, and Brad Kieserman, VP of Disaster Operations & Logistics, Red Cross for a panel on “Emerging Risks: Impacts and Opportunities.” The panel was moderated by Glenn Dorr, Northeast Regional Director, Lloyd’s.
To learn more about the event, click here.
To download an executive summary of the City Risk Index, click here.
Lloyd’s is the world’s only specialist insurance and reinsurance market that offers a unique concentration of expertise and talent, backed by strong financial ratings and international licences. It is often the first to insure new, unusual or complex risks, providing innovative insurance solutions for local, cross-border and global risks. Its strength lies in the diversity and expertise of the brokers and managing agents working at Lloyd’s, supported by capital from across the world. In 2015, more than 90 syndicates are underwriting insurance and reinsurance at Lloyd’s, covering all lines of business from more than 200 countries and territories worldwide. Lloyd’s is regulated by the Prudential Regulation Authority and Financial Conduct Authority.
About Cambridge Centre for Risk Studies
Cambridge Centre for Risk Studies is a multidisciplinary centre of excellence for the study of the management of economic and societal risks, and is an independent research centre at the University of Cambridge Judge Business School. The Centre’s focus on the analysis, assessment and mitigation of global vulnerabilities for the advancement of business risk managers, individual decision-makers and policy strategists. The research programme pursued by the Centre explores catastrophic systemic risk and interconnectivity in the economy. The Centre is supported by the business community as well as the academic research councils and focuses on research that is highly application-oriented.