Phishing hook illustrating a data breach attempt. Training employees to spot potential scams is the best line of defense against a data breach. Some of the biggest data breaches we've seen worldwide were aided by a successful phishing attempt. (Photo: nevodka.com/Adobe Stock)

While there are varying measurements of what qualifies as a recession, the consensus is that rising interest rates and high inflation will continue to put the financial squeeze on Americans in the new year. In these economic conditions, it's likely insurance companies will see an uptick in claims related to inflation and the heightened cost of living. In risk control, we're planning to focus our efforts on risks related to the financial impact of a challenging economic climate.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor