New data released by Lloyd’s shows that cities face a greater economic impact from a stock market crash then from natural disasters. Man-made threats, including cyberattacks, are increasingly costly to our economy and have risen to the top of the threat list.
Lloyd’s estimates that a market crash could “erase as much as $170.3 billion from major cities’ gross domestic product in the U.S. and Canada,” making it more costly then the impact of natural disasters, reports the London-based insurance market. The report that man-made threats are increasingly costly compared to natural disasters, with “market crashes, cyber attacks, power failures and nuclear accidents account[ing] for almost a third of GDP at risk worldwide.”
Additionally, a human pandemic is estimated to only wipe out about $56.5 billion of GDP…and people make zombies out to be the bad guys.