2023 Cyber Insurance Market Outlook

Evolving technology, increasing threat vectors and growing attacker sophistication has continued to drive up both the frequency and severity of cyber incidents, resulting in an ongoing rise in cyber insurance claims and subsequent underwriting losses. Amid these market conditions, most policyholders experienced higher cyber insurance rates throughout 2022. In addition to elevated premiums, insureds have…

Completed Operations Liability Considerations

Contractors and subcontractors in the construction industry face a wide range of completed operations liability exposures. After all, various construction tasks carry risks of third-party bodily injuries or property damage that may result from the finished work, possibly leading to costly lawsuits. Even quality workmanship is not immune to potential completed operations losses. Yet, considering…

We Love Our Communities!

For the ninth time in 17 years, Americans living in homeowners associations, condominiums and housing cooperatives say they’re overwhelmingly satisfied in their communities. The 2022 survey conducted by Zogby Analytics for the Foundation for Community Association Research reveals these encouraging numbers: 87% think the members of the elected governing board, “absolutely” or “for the most…

2023 Commercial Auto Insurance Market Outlook

The commercial auto insurance market has faced substantial underwriting losses and diminished profitability for more than a decade. While the segment continues to face difficult market conditions, rate increases largely remained in the single digits in 2022, demonstrating signs of stagnation compared to double-digital rate jumps that took place in prior years. Nevertheless, several cost-driving…

Small Business Trends for 2023

Small businesses have faced unprecedented challenges over the last few years. Many are hoping for a calmer 2023, but a possible recession, record high inflation and labor shortages may make that unlikely. Being aware of the small business trends for 2023 can help organizations successfully meet their challenges and find opportunities for growth. Here are…

Avoiding Winter Slips and Falls

Winter months present additional hazards that employees don’t typically encounter during warmer weather. Specifically, you may risk experiencing major slips or falls amid snowy and icy conditions, which could lead to serious injuries. Consider the following recommendations to prevent slip and fall incidents this winter: Wear shoes that provide traction on snow and ice; footwear…

2023 Construction Costs Outlook Remains Volatile

Inflation. Labor scarcity. A broken supply chain. These persisting conditions won’t magically disappear with the new year. Yet 2023 does mark new opportunity for construction leaders to improve project outcomes—with deeper insight on price changes. According to recent construction market analysis by Unispace, accurate price forecasting is the executives’ holy grail in a market where pricing…