Lloyd’s and ASP Risk Forum – Risk & Resiliency: Understanding the City Risk Index

Posted By Nicole Bohannon on Feb 26, 2016

Panelists

Meghan Doherty, Project Manager Urban Adaptation Assessment, ND-GAIN

Tommy Wells, DC City Council

David Flandro, Global Head of Analytics, JLT

Andrew Holland, Director of Studies and Senior Fellow for Energy and Climate, ASP

Moderator : Dante Disparte, CEO and Founder, Risk Cooperative, Chairperson BCAS

On February 17, the American Security Project, in partnership with Lloyd’s of London, JLT, and Risk Cooperative, hosted the Risk Forum: Pathways to City Resilience. The event brought together leading policymakers, business leaders, and regulators to discuss the potential uses and benefits of Lloyd’s City Risk Index, as well as share best practices and insights.

The day’s first panel, “Risk & Resiliency: Understanding the City Risk Index,” brought together experts on to help frame how to use Lloyd’s index measuring resiliency of cities around the world.

Meghan Doherty, Project Manager Urban Adaptation Assessment at ND-GAIN, discussed the need to spread awareness to adapt to changing climates and urban environments. She stressed that it is important to ask what is “normal” for a cities standards, but to realize that “normal” in the past 100 years won’t be normal in the next 100 years. Former DC City Councilperson Tommy Wells discussed how the District needs to be better about effective responses for problems ranging from climate change to terrorism. He reported that they are working on climate adaptation plans for DC to prepare for future catastrophes. David Flandro from insurance provider JLT gave a private sector perspective, saying that exposure data is important. The more information on hand to underwrite these risks, the better. Finally, ASP Senior Fellow and Director of Studies Andrew Holland outlined the security angle of the findings, saying how resilience isn’t for the first event, but in the ability to stop the second, third, and fourth order effects of disasters. Investing in resiliency in turn is investing in security.

See the remarks made at the panel: