Cities face an uncertain and increasingly complex array of risks.
Today's cities are growing at an unprecedented rate and are now home to the majority of the world's population and jobs, according to the United Nations. By 2050, 66 percent of the world's population will live in urban areas, up from 54 percent today.
In the report, "Future Cities: Building infrastructure resilience," issued in conjunction with engineering consulting group Arup, Lloyd's of London finds that while risk management remains a priority for cities, it's not enough on its own, or on an asset-by-asset basis. Increasingly, city officials, investors and insurers will need to build resilience within and between infrastructure systems as a complementary approach to address infrastructure risk and uncertainty.
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Jayleen R. Heft
Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].
