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Manufacturers boost safety spending and re-check insurance amid risks
A Wakefield Research survey for Sentry found 83% of manufacturing executives plan to increase worker safety investments and nearly all intend to re-evaluate business insurance policies this year.
Manufacturing leaders are facing mounting economic, supply chain, workforce, and safety pressures, and many are responding by stepping up safety investment and revisiting their insurance coverage, according to a white paper from Sentry Insurance.
The publication, citing a Wakefield Research survey, found less than half of manufacturing executives are confident their company will thrive this year, while nearly one-third expect their business to shrink or go out of business in 2026. It also says manufacturers are dealing with threats that range from labor shortages and cyberattacks to workplace pressure, including nearly half of executives asking employees to work longer hours and take fewer breaks, which raises concerns about injuries.
In response, the white paper says 83% of executives plan to increase worker safety investments and nearly all intend to re-evaluate their business insurance policies this year. It also points to growing attention on enterprise risk management, including physical and transitional climate impacts.
On the cyber risk side, the white paper notes that the cyber threat landscape has changed rapidly, with attacks increasingly achievable in minutes thanks to artificial intelligence. It adds that Ryan Kratz, Head of Cyber for North America at MSIG USA, said resiliency and preparation for how an organization responds to an attack are becoming a bigger focus than solely trying to prevent every cyber event.