Businesses across the country are more concerned about rising healthcare costs and economic uncertainty than they were a year ago, according to a new survey from Travelers Cos.
Property and casualty insurer Travelers, which has major Hartford operations, released its 2023 Travelers Risk Index Tuesday. The survey of more than 1,200 small, medium and large companies details their top business concerns.Â
Sixty percent of businesses said they worry some or a great deal about medical cost inflation, while 59% say they are concerned with broad economic uncertainty. Fifty-eight percent listed cybersecurity as a concern.
Other notable responses include:
- 55% of respondents said increased employee benefit costs are a worry.Â
- 54% said access to capital and cash flow are among the top concerns.
- 66% of large businesses surveyed said the impact of the global economy was a top worry.
- 58% of medium-sized businesses said the ability to attract and retain talent was a top concern.
- 43% of small firms said the impact of the global economy was also a top concern for them.
The survey was conducted by Hart Research, which surveyed 1,206 U.S. “business insurance decision makers” online between June 1 to June 13.
