2023 State of the Market Mid-Year Report

2023 State of the Market Mid-Year Report

Download the 2023 State of the Market Mid-Year Report

Economic turmoil, shifting workforce dynamics, extreme weather events, geopolitical unrest, and a litigious environment – if there is anything organizations and individuals have come to expect in recent memory, it is the unexpected. With volatility shaping current events becoming the new normal, now more than ever before, we all need to think about how we plan for the unplanned.

Just like everyone else, insurance companies are also having to grapple with and adapt to the events that are transforming the world. In 2023, a shifting property and casualty (P&C) insurance and employee benefits marketplace continues to shape coverage terms, deductibles, and premiums in ways that impact organizations’ and individuals’ financial resiliency and ability to withstand ongoing instability. In the employee benefits landscape, employers continue to feel the financial pressures of balancing skyrocketing healthcare costs with employees’ benefits expectations.

In this State of the Market report, we discuss the challenges and trends impacting businesses, individuals, and the insurance industry and explore emerging trends and risks while highlighting strategies and solutions that can help you mitigate risk and achieve your goals.

This document is intended for general information purposes only and should not be construed as advice or opinions on any specific facts or circumstances. The content of this document is made available on an “as is” basis, without warranty of any kind. Baldwin Risk Partners, LLC (“BRP”), its affiliates, and subsidiaries do not guarantee that this information is, or can be relied on for, compliance with any law or regulation, assurance against preventable losses, or freedom from legal liability. This publication is not intended to be legal, underwriting, or any other type of professional advice. BRP does not guarantee any particular outcome and makes no commitment to update any information herein or remove any items that are no longer accurate or complete. Furthermore, BRP does not assume any liability to any person or organization for loss or damage caused by or resulting from any reliance placed on that content. Persons requiring advice should always consult an independent adviser.

Baldwin Risk Partners, LLC offers insurance services through one or more of its insurance licensed entities. Each of the entities may be known by one or more of the logos displayed; all insurance commerce is only conducted through BRP insurance licensed entities. This material is not an offer to sell insurance.

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