Year-end 2022 U.S. Business Insurance State of the Market Report Executive summary As reported in our Q3 2022 Business Insurance collapse, threaten food supplies and livelihoods in State of the Market Report, the property market climate-vulnerable economies, amplify the impacts continues to dominate insurance headlines. It of natural disasters, and limit further progress on will do so again in this 2022 year-end report. In climate mitigation.” addition, the 2023 18th Edition of The Global Risks Some of the risks described in this year’s Global Report—in partnership with Marsh McLennan and Risks Report are close to a tipping point. Today’s Zurich Insurance Group—underscores this concern crises in昀氀uence tomorrow’s catastrophes. and highlights a critical in昀氀ection point of many However, despite concerns of the cost-of-living interconnected compounding risks. crisis, economic downturn, economic warfare, The report also discusses the current risks facing climate action delays, and societal polarization, our natural environment. “As current crises diverts preparedness measures are possible. resources from risks arising over the medium to longer term, the burdens on natural ecosystems will Transforming challenges into opportunities grow given their still undervalued role in the global Shoring up resiliency across many di昀昀erent economy and overall planetary health,” it reads. risks can protect your bottom line over the long “Nature loss and climate change are intrinsically interlinked – a failure in one sphere will cascade run. It can even have a multiplier e昀昀ect on overall preparedness. Martin South, the President and into the other. Without signi昀椀cant policy change or CEO of Marsh, sums up our approach well: “We investment, the interplay between climate change are client-obsessed in everything that we do.” impacts, biodiversity loss, food security and natural Your future is limitless. resource consumption will accelerate ecosystem Denise Perlman, CIC Executive Vice President, Business Insurance & National Partnerships