In 2023, various forces shaped insurance and employee benefits markets in a state of transition, presenting both challenges and opportunities for insurance companies, businesses, and individuals alike.
For the employee benefits space, employers had to orchestrate a delicate balance between cost containment and robust benefits offerings. As a response to these varied conditions, companies and individuals sought ways to respond to the marketplace by transforming the vicissitudes of risk into beacons of opportunity.
What one can always expect from the insurance market is that it will course correct and respond to the global realities that impact all of us in ways that affect the availability and pricing of coverage. Whether it is business insurance, employee benefits, private insurance, or a combination of these needs, you, too, have the power to remain resilient by recalibrating your approach to risk management with the evolving world and insurance market.
In this State of the Market Report, we’ll help employers understand what benefit strategies, and actions they can take to move forward, challenges and opportunities that may be emerging, and how they can continue to control costs without sacrificing employee satisfaction.
As the market changes, you can rely on TCG advisor and client experience teams to remain steadfast and dedicated to clients, working in partnership with you to find viable solutions that help protect your now and your future.
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.
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