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.
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