Taipei faces 4th highest risk to threats among global cities: Lloyd’s

Focus Taiwan
Date: 2018/06/06
By: William Yen

Taipei, June 6 (CNA) Taipei is the global city facing the fourth highest risk to its annual economic output, over the next three years mainly due to its vulnerability to tropical storms, according to an index compiled by the Lloyd’s of London insurance market.

The risk index lists 279 cities with a combined GDP of US$35.4 trillion and shows that they risk US$546.5 billion in economic output annually as a result of 22 types of threats, in the period 2018 to 2020.

The top five threats likely to cause the biggest economic loses worldwide over the three-year period are market crashes (US$103.33 billion), interstate conflicts (US$80 billion), tropical windstorms (US$62.59 billion), human pandemics (US$47.13 billion) and floods (US$42.91 billion), the index shows.

Taipei, which has an annual projected gross domestic product (GDP) of US$179.98 billion, has US$12.88 billion at risk annually, with tropical windstorms its biggest threat, according to Lloyd’s.    [FULL  STORY]