This report, published in association with Lloyd’s of London and Urban Foresight, and commissioned before COVID-19 swept around the world, analyses the risks cities are facing and will face in the future. It also looks at how these threats will affect urban areas. This study helps city administrators and risk managers, as well as Lloyd’s market insurers and brokers, understand the risks that will influence the design and function of cities in the coming decades. It provides insight into how these threats could be reduced and how local authorities and insurers could be working together to do so. It helps insurers understand better the factors that can heighten or reduce a city’s vulnerability, and work with officials to provide additional risk transfer support. The report also emphasises the role insurance can play in helping municipalities transfer risk. It looks at how insurers are planning for every class of business in the cities of the future, and what that means for new product and service development.