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Risk in Context Podcast: The future of cities

Marsh’s Paul Foye and Marc Reisner and Oliver Wyman’s Rory Heilakka look at how COVID-19 and other trends will affect cities and the way people live and work.

The COVID-19 pandemic will have a number of lasting impacts, including on cities and the demands of people who live, work, and play in them, along with residential and commercial real estate properties.

This episode of Marsh’s Risk in Context podcast features Marsh’s Paul Foye and Marc Reisner and Oliver Wyman’s Rory Heilakka on the pandemic’s effects on the future of cities.

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Key takeaways

The pandemic has brought into greater focus a number of trends for cities, including those related to technology, labor markets, mobility, transit, and public health.

COVID-19 has disrupted commuting patterns and prompted many people to move out of city centers.

This will have significant implications for commercial and multifamily property owners’ footprints and the design of offices and apartments going forward.

Thoughtful planning and coordination by governments and effective risk management can help both cities and real estate property owners and managers capitalize on opportunities and continue to attract people and investments.

About our speakers

Paul Foye

Paul Foye

US Practice Leader, Real Estate

  • United States

Paul Foye is the leader of Marsh’s US Real Estate Practice. He has led Marsh teams supporting several of Marsh’s largest real estate clients, advising them on real estate risk management and insurance programs, captive insurance best practices, and more. He has more than 30 years of experience in the insurance industry as a broker, underwriter, and risk manager.

Marc Reisner

Marc Reisner

US Practice Leader, Multifamily

Marc Reisner is the leader of Marsh’s Multifamily Center of Excellence within Marsh’s US Real Estate & Hospitality Practice. In this capacity, Marc is responsible for the development of products, services, and solutions for multifamily real estate client. He has three decades of insurance broking and risk management experience, including working with large real estate insurance portfolio programs.

Rory Heilakka

Rory Heilakka

Partner, Oliver Wyman Transportation and Digital Practices

  • United States

Rory Heilakka is a Partner within Oliver Wyman and part of the firm’s Transportation and Digital Practices. Based in the New York office, he has been with Oliver Wyman for almost 15 years, advising clients on a range of issues and has worked extensively in the travel and hospitality sector, with a focus on applying technology and advanced analytics to inform strategy and lasting business outcomes. He is also a leader within the Oliver Wyman Forum focused on the implications of technology and AI for global cities and has helped develop Oliver Wyman’s Cities AI Readiness Index.