Results from the Middle Market Indicator report (MMI) reveal some middle market firms started showing signs of economic recovery in Q2 2021. For example, sixty-six percent of respondents say their company performance has improved compared to one year ago, representing an increase of seventy-eight percent over Q2 2020 and sixty-five over Q4 2020.
However, some middle market companies remain concerned about potential long-term economic impacts of the pandemic. For example, a third of middle market companies believe COVID-19 will have a negative impact on their supply chains in the coming year. So as middle market companies continue to navigate the pandemic's effects on their businesses, they are becoming more attuned to the importance of risk management.
"As risks evolve, it's critical for middle market companies to continually assess how their exposures may be changing in tandem," said
Notably, the data indicates that middle market companies are leaving a key risk management resource on the table: Only fifteen percent of middle market companies rely heavily on an insurance agent or broker to understand and manage risk. Agents and brokers are extremely knowledgeable about risk management best practices and can help middle market companies better understand their exposures, mitigate risks, and secure the insurance coverages for their unique needs so they can focus on continued growth and success.
An executive summary with a more detailed overview of the findings can be downloaded here. Additional findings on current and emerging trends among middle market technology, manufacturing and financial services companies, as well as middle market firms with international revenue, are forthcoming.
About the Middle Market Indicator
The MMI, which was created in 2012, surveys 1,000 executives (CEOs, CFOs and other financial decision makers) from the middle market to examine topics related to business capabilities, performance, growth drivers and economic outlook among other topics. This quarter's MMI was fielded during the first two weeks of
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