Middle Market Companies Find Risk Management Most Important

One-third of middle market companies believe COVID-19 will have a negative impact on their supply chains in the coming year.

Stock Smart Logistics
Getty Images

New data from Chubb and the National Center for the Middle Market (NCMM), housed at The Ohio State University Fisher College of Business, shows that middle market companies are finding risk management increasingly important after more than a year of dealing with pandemic-related and other disruptions.

"As risks evolve, it's critical for middle market companies to continually assess how their exposures may be changing in tandem," says Ben Rockwell, division president, Chubb Middle Market. "The pandemic has presented many challenges and heightened exposures for middle market companies, from grappling with new levels of supply chain disruption to remote work policies. As part of the planning process, middle market companies must make risk management a top priority, assess what they have in place and make adjustments where necessary to address emerging risks."

 

From PR Newswire:

  • The percentage of middle market companies denoting risk management as "extremely" or "very" important to their firms jumped from 68% in Q4 2020 to 79% in Q2 2021.
  • One-third of middle market companies believe COVID-19 will have a negative impact on their supply chains in the coming year.
  • Only 15% of middle market companies rely heavily on an insurance agent or broker to understand and manage risk. 
Latest