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

 

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