Professional Liability Insurance Market Future Trends and Stunning Huge Growth by 2023: Liberty Mutual Insurance, Aviva, Zurich Insurance Company Ltd, Aon, MAPFRE, Chubb, AIG, Allianz, AXA, Travelers, and Generali

The forecast period 2018-2023 is going to be great for the Professional Liability Insurance Market which will be the face changer for Insurance industry. The users are increasing day by day hence increasing CAGR levels. The SWOT analysis shows about what the market drivers and restrains are.

Medical Professional Liability Insurance, at US$15.7 billion, accounted for the biggest chunk (40.8%) of the worldwide market pie by professional category. That was followed by approximately US$7.5 billion to professionals in the lawyer, and about US$15.2 billion to professionals in all other segments combined.

Over the next five years, RfM (Research for Markets) projects that Professional Liability Insurance will register a 2.9% CAGR in terms of revenue, reach US$ 45600 million by 2023, from US$ 38400 million in 2017.

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges, sales channels, distributors and Porter's Five Forces Analysis and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

The Key Players Covered In This Report:

Chubb (ACE), AIG, Hiscox, Allianz, Tokio Marine Holdings, XL Group, AXA, Travelers, Assicurazioni Generali, Doctors Company ,Marsh & McLennan, Liberty Mutual, Medical Protective, Aviva, Zurich, Sompo Japan Nipponkoa, Munich Re, Aon, Beazley and Mapfre

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This report studies the Professional Liability Insurance market. Professional liability insurance (PLI), also called professional indemnity insurance (PII) or errors & omissions (E&O), is a form of liability insurance which helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit.

The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm. Professional liability insurance may take on different forms and names depending on the profession, especially medical and legal, and is sometimes required under contract by other businesses that are the beneficiaries of the advice or service.

most cases, growth is likely to be faster in less-developed markets than in developed ones, although much also depends on the degree to which significant competition exists among underwriters in this field and on future claims experience in each country.

Segmentation by product type:

· Medical Liability Insurance

· Lawyer Liability Insurance

· Other Liability Insurance

Segmentation by application:

· Up to $1 Million

· $1 Million to $5 Million

· $5 Million to $20 Million

· Over $20 Million

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Major Table of Contents:

1 Scope of the Report

2 Executive Summaries

3 Global Professional Liability Insurance by Players

4 Professional Liability Insurance by Regions

5 Americas

6 APAC

7 Europe

8 Middle East & Africa

9 Market Drivers, Challenges and Trends

10 Global Professional Liability Insurance Market Forecast

11 Key Players Analysis

12 Research Findings and Conclusion

Research objectives

· To study and analyze the global Professional Liability Insurance consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.

· To understand the structure of Professional Liability Insurance market by identifying its various sub segments.

· Focuses on the key global Professional Liability Insurance manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.

· To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

· To strategically profile the key players and comprehensively analyze their growth strategies.

Customization Options

• All segmentation provided above in this report is represented at country level and can be customized according to needs.

• All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization).

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About Research for Markets:

Research for Markets indulges in detailed and diligent research on different markets, trends and emerging opportunities in the successive direction to cater to your business needs. We have established the pillars of our flourishing institute on the grounds of Credibility and Reliability. RFM delve into the markets across Asia Pacific, North America, South America, Europe, Middle East and Africa.

Contact:

Mr. A Naidu

Research for Markets

Tel: +44 8000-4182-37 (UK)

Email: alan.naidu@researchformarkets.com

This release was published on openPR.