This fascinating development is essentially an interactive web-based visualisation tool which illustrates the impact of catastrophe scenarios on the global economy.
The need for the framework was born from a partnership between the Centre for Risk Studies at the University and Lloyd’s as part of their joint venture, the Lloyd's City Risk Index. This project collects data on 301 major cities and models their potential financial risk from a selection of 18 categories of possible catastrophes, ranging from cyber attacks and market crashes to pandemics and solar storms.
The tool takes this vast amount of information, which on its own would be almost impossible to interpret, and gives users the ability to navigate and analyse data about potential catastrophes in cities around the world.
The Cambridge Risk Framework could be extremely valuable for insurance groups, businesses and governments, and was showcased last week at the top of the Lloyd's building in London.
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