Global Professional Liability Insurance Market Bwc19264
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Global Professional Liability Insurance Market, By Type (Medical Liability Insurance, Lawyer Liability Insurance, Construction & Engineering Liability Insurance, Other Liability Insurance), By Applications (Up to $1 Million ,$1 Million to $5 Million ,$5 Million to $20 Million , Over $20 Million), By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America), Trend Analysis, Competitive Market Share and Forecast, 2014-2024
- Published Date: September 2019
- Report ID: BWC19264
- Available Format: PDF
- Page: 125
Report Overview
Global
Professional Liability Insurance Market: Overview
Global Professional Liability Insurance is
anticipated to propagate with a healthy rate during the forecast period
2014-24. Professional Liability also known as professional indemnity insurance
(PII) or errors & omissions (E&O), is liability insurance which helps
professional support- and service-providers, corporations from demeanor the
full cost of defending against a claim made by the purchaser, and compensations
endowed in such civil litigation.
Medical professional liability insurance
defends physicians and other authorized health care professionals from
liability associated with illegal acts causing in medical expenses, property
damage and bodily injury, as well as the cost of protecting litigations related
to such claims. Lawyer Liability Insurance offers lawyers with liability
coverage for monetary loss suffered by third parties arising from acts, faults,
omissions in providing professional legal services and fraud and criminal acts.
Construction & Engineering Liability Insurance, is acquired by contractors
providing design and building services and provides coverage of faults made by
the contractor and third-parties such as architects, engineers, and other
vendors.
Growth Drivers
Technological advancements
Rising procurements from the technological
approach such as cloud computing, digitalization that are offering prominent
growth to the liability insurance sector. Cyber and privacy liability are
driving market expansion rapidly.
Rising mergers and acquisitions
The cumulative pace of the mergers and
acquisitions amid professional liability brokers influence an ascending trend
in insurance premiums. The rise in disposable income and an accelerating number
of policyholder are the key drivers for the growth of the market. The upsurge
in per capita GDP in developing economies is subsidizing the global
professional liability insurance market.
Restraints
Irrepressible Premium Cost Dynamics
The premium, or cost, mostly depends on the
factors which are not in the control of insurance holders. Factors such as the
number of claims filed in the associated industry, company's present fiscal
status, business life, and state laws all affect the rates of your premium.
Global
Professional Liability Insurance Market: Type Analysis
Based on the type of Professional Liability Insurance, the market segmented into Medical Liability Insurance, Lawyer Liability Insurance, Construction & Engineering Liability Insurance, and Other Liability Insurance. Construction & Engineering Liability Insurance market is projected to grow at a significant rate owing to increasing awareness of the risk and potential resulting claims. Additionally, the construction and engineering sectors are more associated with risk in terms of human resources, so the government also supports insurance. The medical liability insurance market is also capturing the market on accounts of better patient safety, greater importance on loss alleviation and risk control, and more violent legal security tactics.
Global
Professional Liability Insurance Market: Application Insights
Based on the applications market is segmented
as Up to $1 Million, $1 Million to $ 5Million, $5 Million to $20 Million, over
$20 Million. $1 Million to $5 Million segments are likely to grow over the
forecast period on accounts to increase in cyber and privacy intimidations and
cut-throat competition among the leading companies. Technological innovations
are fueling the industry and expected to rise at a substantial growth rate.
Global
Professional Liability Insurance Market: Region analysis
The objective of
the Study:
•
To analyze and forecast the market size of the Global Professional
Liability Insurance market, in terms of value.
• To examine the careful market segmentation and forecast the market
size, in terms value, based on the region by segmenting the Professional
Liability Insurance market into five regions, namely, North America, Europe,
Asia Pacific, Middle East, and their leading countries.
• To outline, categorized and forecast the global Professional
Liability Insurance market based on the type and Application.
• To examine competitive developments like technological
advancement, services, and regulative framework within the global Professional
Liability Insurance Market.
• To highlight the impact analysis of the factors, affecting the
market dynamics such as drivers, restraints, opportunities, and challenges.
• To strategically profile the key players and comprehensively
analyze their market shares along with detailing the competitive landscape for
market leaders.
Global
Professional Liability Insurance market Competitive Landscape
Companies such as Chubb Limited, AIG, Hiscox,
Allianz, Tokio Marine Holdings, XL Group, AXA, Travelers, Assicurazioni
Generali, Doctors Company, Marsh & McLennan, Liberty Mutual, Medical
Protective and viva, Zurich, Sompo Japan Nipponkoa, Munich Re, Aon, Beazley and
Mapfre are the key players in the industry.
Scope of the
Report
By Type
•
Medical Liability Insurance
•
Lawyer Liability Insurance
•
Construction & Engineering Liability Insurance
•
Other Liability Insurance
By Application
•
Up to $1 Million
•
$1 Million to $5 Million
•
$5 Million to $20 Million
•
Over $20 Million
Besides, the
report provides an analysis of the Global Professional Liability Insurance
market with respect to the following geographic segments:
•
North America
•
Europe
•
Asia Pacific (APAC)
•
LATAM
•
MEA
Business
Questions answer by the report
•
How will the market drivers, restraints and opportunities affect
the market dynamics?
•
What will be the market size in terms of value and volume and
market statistics with a detailed classification?
•
Which segment dominates the market or region and one will be the
fastest growing and why?
•
A comprehensive survey of the competitive landscape and the market
participant players
•
Analysis of strategy adopted by the key player and their impact on
other players.
Customization
Scope for the Client
Client satisfaction is our first and last
priority and that’s why BlueWeave Consulting offers customization according to
Company’s specific needs. The following customization options are available for
the report:
Additional
Company Information
•
With five additional company detail analysis
•
Additional country analysis
•
Detailed segment analysis
1.
Research Framework
1.1.
Research Objective
1.2.
Product Overview
1.3.
Market Segmentation
2.
Research Methodology
2.1.
Qualitative Research
2.1.1. Primary & Secondary Sources
2.2.
Quantitative Research
2.2.1. Primary & Secondary Sources
2.3.
Breakdown of Primary Research
Respondents, By Region
2.3.1. Secondary Research
2.3.2. Primary Research
2.4.
Breakdown of Primary Research
Respondents, By Industry Participants
2.5.
Market Size Estimation
2.6.
Assumption for the Study
2.7.
Market Breakdown & Data
Triangulation
3.
Executive Summary
4.
Global Professional Liability Insurance Market - Industry
Insights
4.1.
Industry Impact and Forces
4.1.1. Growth Drivers
4.1.2. Restraint
4.1.3. Opportunities
4.1.4. Trends
4.2.
Competitor Analysis, 2018
4.2.1. Company Shares
4.3. Industry Value
Chain & Manufacturing Process
4.4. Porter Five
Forces
4.5. Strategic Outlook
4.6. Technological
Landscape
5.
Global Professional Liability Insurance Market Overview
5.1.
Market Size & Forecast
5.1.1. By Value (USD)
5.2.
Market Share & Forecast
5.2.1. By Type
5.2.1.1. Medical Liability Insurance
5.2.1.2. Lawyer Liability Insurance
5.2.1.3. Construction & Engineering Liability Insurance
5.2.1.4. Other Liability Insurance
5.2.2. By
Application
5.2.2.1. Up to $1 Million
5.2.2.2. $1 Million to $5 Million
5.2.2.3. $5 Million to $20 Million
5.2.2.4. Over $20 Million
5.2.3. By Region
5.2.3.1. North America
5.2.3.2. Europe
5.2.3.3. Asia Pacific
5.2.3.4. Latin America
5.2.3.5. Middle East and Africa
6. North America Professional Liability Insurance
Market
6.1. Key Regional
Trends
6.2. Market estimates
& forecast
6.2.1.
By Type
6.2.2.
By Application
6.2.3.
By Country
6.2.3.1.
U.S
6.2.3.2.
Canada
7. Europe Professional Liability Insurance Market
7.1. Key Regional
Trends
7.2. Market estimates
& forecast
7.2.1.
By Type
7.2.2.
By Application
7.2.3.
By Country
7.2.3.1.
Germany
7.2.3.2.
U.K
7.2.3.3.
France
7.2.3.4.
Italy
8. Asia Pacific Professional Liability Insurance Market
8.1. Key Regional
Trends
8.2. Market estimates
& forecast
8.2.1.
By Type
8.2.2.
By Application
8.2.3.
By Country
8.2.3.1.
China
8.2.3.2.
India
8.2.3.3.
Japan
9. Latin America Professional Liability Insurance
Market
9.1. Key Regional
Trends
9.2. Market estimates
& forecast
9.2.1.
By Type
9.2.2.
By Application
9.2.3.
By Country
9.2.3.1.
Brazil
9.2.3.2.
Argentina
10. Middle
East & Africa Professional
Liability Insurance Market
10.1.
Key Regional Trends
10.2.
Market estimates & forecast
10.2.1. By Product Type
10.2.2. By Application
10.2.3. By Country
10.2.3.1.
Saudi Arabia
10.2.3.2.
UAE
11. Company
Profiles
11.1.
Chubb Limited
11.1.1. Company
Overview
11.1.2. Financial
Matrix
11.1.3. Key Product
landscape
11.1.4. Key
Personnel
11.1.5. Key Competitors
11.1.6. SWOT
11.1.7. Contact
Address
11.1.8. Strategic
Outlook
11.2.
AIG
11.3.
Hiscox
11.4.
Allianz
11.5.
Tokio Marine Holdings
11.6.
XL Group
11.7.
AXA, Travelers
11.8.
Assicurazioni Generali
11.9.
Doctors Company
11.10.
Marsh & McLennan
11.11.
Other Prominent Players
12. Strategic
Recommendation
*Financial Details Not Be
Captured in Case of Unlisted Companies
**The segmentation
and the companies are subjected to modifications based on in-depth secondary
for the final deliverable
Market Segmentation
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