Lloyd’s has just released the updated City Risk Index. The risk landscape has changed substantially since the index was published in 2015, with new and emerging risks impacting governments, businesses, and individuals across the world. More economic output is exposed to potential systemic shocks than ever before.
The Lloyd’s City Risk Index measures the GDP@Risk of 279 cities, showing that US$546.5bn of GDP is at risk annually. In Singapore, the top risks are Market Crash, Flood, Human Pandemic, Cyber Attack, and Commodity Price Shock.
The overarching theme of this discussion brought to you by Marsh and Lloyd’s will be about business interruption – as Singapore is a big trading hub, arguably the biggest economic impact from all these perils will be the disruption to trade they will cause.