CBIZ Sattler Adventure Sports Blog

Insights and tips on how to protect your adventure sports business, giving you and your guests peace of mind.

Ward, Hayden
/ Categories: BLOG Articles

Hard Market Outlook for Outfitter Businesses

Adventure Sports Market Outlook

Small businesses and the insurance industry continue to find the market challenging. Following multiple years of consistency, most insurance experts are discovering a  hardening of the market  across all commercial lines. Trends such as social inflation, the COVID-19 pandemic, cybercrime, the cost of reinsurance, natural disasters and investment returns have all restructured the insurance market.

Trends to Watch

Labor Shortages

All industries have been affected by labor shortages, but manufacturing, hospitality, health care and retail have experienced the greatest impact. Numerous dynamics have influenced the widespread labor shortages, but the pandemic is consistently identified as the primary factor for worker deficiencies. In an effort to combat this movement, experts recommend making adjustments to compensation and benefits to retain current staff and attract skilled applicants.

Supply Chain Issues

Since its onset, the pandemic has negatively impacted the supply chain. Difficulties originated from increased demand, production slowdowns and pandemic-related closures. In addition, continued warehouse worker and truck driver shortages have stalled shipment and delivery times. Be prepared by creating a  detailed contingency plan  as many experts expect the supply chain difficulties to continue in 2022.


Recent insurance inflation difficulties can be attributed to labor shortages and supply chain disruptions. The increased cost of materials and worker shortages have directly impacted the property and auto insurance spaces. While these markets have currently seen the greatest influence from inflation, additional segments may eventually be affected as carriers increase premium expenses and make other adjustments to prevent loss costs.

Extreme Weather Events

Extreme weather events (e.g., hurricanes, tornadoes, hailstorms, wildfires) continue to become increasingly devastating and costly. No adventure business is safe as these disasters can impact any area of the country. As 2021 was a record year for extreme weather events.

2022 Lines of Coverage Price Forecast

A multitude of factors can directly affect insurance premiums. Experts create price forecasts based upon industry reports across multiple lines of insurance. These predictions are subject to change and are not a guarantee of premium rates. However, you can use this information during the planning stage and in discussion with your insurance expert.

5 Key Components of a Successful Risk Management Strategy

  • Pinpoint your exposures and cost drivers.
  • Identify the best loss control solutions to address your unique risks.
  • Create a solid business contingency plan to account for disasters and other unpredictable risks.
  • Build a company culture focused on safety.
  • Manage claims efficiently to keep costs down.


We’re Here to Help

While the continued hardening of the market can seem daunting, our team can help you understand not only the current trends, but how they can impact your coverage and premiums. Working on a solid plan and preparation can help you face the upcoming year and budget accordingly. Download our  2022 Property & Casualty Market Outlook  for further insights into this year’s predictions to help guide your business strategy. Start worrying less and adventuring more!  Request a free CBIZ Adventure Sport Insurance quote.

This blog may contain scenarios that are provided as examples only. In an actual claim situation, coverage is subject to the terms, conditions and exclusions of the policy issued. The information provided is general in nature and may be affected by changes in law or the interpretation of such laws. The reader is advised to contact a professional prior to taking any action based upon this information.

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800.615.8418 | adventuresports@cbiz.com

1504 8th Street | Lewiston, ID 83501  

Monday - Friday | 8:30 a.m. - 5 p.m. (PST)


CBIZ Sattler Adventure Sports Insurance, a division of CBIZ Insurance Services, Inc., is the largest insurer of adventure sports businesses in the United States. As part of an $850 million New York Stock Exchange traded company (CBZ), we developed a policy coverage to meet the needs for those in the recreation and outfitting industries. Our policy is underwritten by an A.M. Best Rated A++ (Superior) company.