2023 State of the Insurance Market: Manufacturing
Every year we take a close look at the insurance market and compile detailed State of the Market reports. Inside these reports, we discuss the challenges and trends impacting businesses, individuals, and the insurance industry. We also explore emerging trends and risks while highlighting strategies and solutions that can help you mitigate risk and achieve your goals. In addition to compiling full market reports, we also go into detail on how specific industries are impacted by changing market conditions. This year, one of the areas we focused on is the insurance market for the manufacturing industry.
The Manufacturing Insurance Market Snapshot
In 2022, the manufacturing industry demonstrated strength and reaped the rewards of capitalizing on the momentum it gained from increased production demands stemming from COVID-19. This was in spite of continued challenges with talent retention and supply chain instability. However, prospects in 2023 look a little more mixed for manufacturing companies. Though there are areas of opportunity for the industry, significant headwinds may temper hopes of continued prosperity in 2023.
Inside our Manufacturing industry market report, you will learn about:
- Key challenges the Manufacturing industry faces
- What the primary insurance and reinsurance market looks like
- How the Manufacturing industry can address these challenges
- Managing the overall cost of risk and insurance
- Strategies for finding a trusted advisor partner
This report can serve as a powerful resource for many types of manufacturers, such as:
- Aerospace & Defense
- Automotive parts
- Food & Beverage
- Medical Devices
- Pharmaceutical and Biotech
- Textile and Apparel
Insurance Coverage for Your Products
Underwriting scrutiny is at an all-time high and insurers are providing less favorable terms for coverage. Now’s the time to work with a team of Commercial Risk advisors with a proven track record in the manufacturing industry. Contact Burnham WGB today to learn more about how we can help you assess your risks and protect your assets and investments.