United Security Agency

Climate Impact & Sustainability Data (2023)

Hardened market conditions in commercial insurance due to increased claim frequency and severity, social inflation, COVID-19 pandemic complications, evolving cyber threats, and worsening natural disasters.
Labor shortages impacting businesses across industry lines.
Supply chain disruptions causing financial impacts for businesses.
Record-setting inflation trends.
Growing possibility of a recession.
Large-scale international events (Russia-Ukraine conflict) exacerbating commercial exposures.

Businesses should take a proactive approach to bolster their risk management efforts and secure adequate coverage.
Businesses should focus on addressing the factors they can control.
Consult insurance professionals who understand your business, help you plan for unique risks, and advocate on your behalf.
Implement new work-from-home or hybrid arrangements.
Adopt new supply chain technology, introduce updated contingency plans, prioritize U.S.-based supply chain solutions, and search for more eco-friendly options.
Establish concrete financial plans to maintain profits, scale back certain operations, promote steady cash flow, ensure proper debt management, foster strong connections with stakeholders, and leverage effective marketing strategies.