37 As we stated at the onset, shoring up resiliency against in昀氀ation and other factors has never been more critical. Read more in the 2023 18th Edition of The Global Risks Report about the perceptions around preparedness and governance. “For better planning and preparedness, institutions must de-anchor risk prioritization from shorter-term incentives,” the report reads. “Despite regularly featuring in the top rankings, the most severe global risks – pertaining particularly to climate and nature – are those we are still the least prepared for. As global risks become more intertwined, preparedness also needs to become more of a shared responsibility between sectors, with local and national governments, business, and civil society each playing to their strengths, rather than traditional models of governments addressing market failures when they occur.” For example, innovative strategies in risk modeling could help mitigate signi昀椀cant climate-induced losses. MMA will continue to lead with informed decision-making opportunities to support you through the many challenges ahead. What to expect from Marsh McLennan Agency (MMA) MMA will work in partnership with you to create a strategic plan that aligns with your short- and long-term organizational goals. We o昀昀er choices, alternatives, and advice. MMA is your resiliency-focused risk champion. Special thanks to our MMA Business Insurance State of the Market Report contributors: To learn more, contact your MMA representative. Joanne Adams, Sidra Ali, Yvette Beaubien, Pauline Berardi, Nick Bertke, Steve Christenson, William Cilente, Kelly Ciprian, Ricardo Collymore, Drew Crank, Michael Crusco, Michael Cullen, Jonathan Fender, Tim Gallagher, Jamie Glanz, Ryan Hale, Gretchen Haney, Michael Henning, Alison Hicks, Hannah Hoe昀氀inger, Phebe Jenkins, Karen Kestle, Amy Klitzke, Patrick Kunz, Angel Lavin, Sharon Llewellyn, Edward Lloyd, Ann Longmore, Marina Mataev, Mary McCready, Kathryn Morrongiello, Mario Paez, David Parker, Karen Parker, Denise Perlman, Cindy Rains, Jenny Raveling, Denise Recifo, Manuel Ribot, Nancy Richardson, Beth Romanowski, Matthew Ross, Sheryl Ruck, Tonia Selfridge, Note: Many of the rate trend graphics contained in this report are from Marsh McLennan and may not include Lisa Setzer, Cindy Stau昀昀er, Rachel Stoneman, Martha Szmejda, Matthew Truglio, Kathy Vanderslice, small to middle-market data. Because of this, some of the rate trends within the text may not always match up Mary VonColln, Kyle White, Joe Williams, Lori Woods, Matthew Wright, Melissa Young, and Lydia Zaharia. squarely with the visuals.