Press release
Global Earthquake Insurance Market Insights and Trends 2024
Earthquake Insurance Market Insights
The new report published by The Business Research Company, titled Earthquake Insurance Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the earthquake insurance market size has grown strongly in recent years. It will grow from $7.54 billion in 2023 to $8.02 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The earthquake insurance market size is expected to see strong growth in the next few years. It will grow to $10.30 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
Download Free Sample Report: https://www.thebusinessresearchcompany.com/sample.aspx?id=18580&type=smp
What Is Driving The Growth Of The Global Earthquake Insurance Market?
Rising Frequency Of Natural Disasters Fuels Growth In The Earthquake Insurance Market
The increasing number of natural disasters is expected to propel the growth of the earthquake insurance market going forward. A natural disaster is a catastrophic event caused by natural phenomena, leading to significant loss of life, environmental damage, and destruction of private property or public infrastructure. The increasing number of natural disasters can be attributed to factors such as rising temperatures, increased storm intensity, altered weather patterns, urbanization, and land use changes. Earthquake insurance offers financial protection for earthquake damages, covering repair costs for homes and buildings. This aids individuals and businesses in achieving economic stability and quicker recovery after such natural disasters. For instance, in March 2023, according to ReliefWeb, a vital humanitarian information platform managed by the United Nations Office for the Coordination of Humanitarian Affairs (OCHA), there were 387 natural hazards and disasters documented globally, which is slightly above the 2002 to 2021 average of 370. Therefore, The increasing number of natural disasters are driving the growth of the earthquake insurance market.
What Is The Key Trend In The Global Earthquake Insurance Market?
Innovative Developments In Earthquake Insurance Introduction Of Parametric Re/Insurance Products
Major companies operating in the earthquake insurance market focus on developing innovative insurance policies, such as natural catastrophe (Nat cat) insurance, to provide quicker and more efficient payouts following natural disasters. NormanMax Syndicate 3939 is the pioneering syndicate specializing in natural catastrophe parametric re/insurance products for hurricanes, tropical cyclones, typhoons, and earthquakes. For instance, in May 2024, NormanMax Insurance Holdings, a US-based insurance company, launched Syndicate 3939. These innovative parametric products offer transparent and rapid payouts, bridging critical insurance gaps. They can be distributed efficiently and at scale, addressing issues of trapped capital. This syndicate is noteworthy as it is the first of its kind at Lloyd's. It specifically focused on natural catastrophe parametric insurance products, including hurricane coverage, tropical cyclones, typhoons, and earthquakes.
How Is The Global Earthquake Insurance Market Segmented?
The earthquake insurance market covered in this report is segmented -
1) By Type: Life Insurance, Non-Life Insurance
2) By Coverage Type: Comprehensive, Catastrophic
3) By Distribution Channel: Banks, Agents, Brokers, Retailers, Other Distribution Channels
4) By Application: Personal, Commercial
5) By End-User: Individuals, Business
You Can Pre-Book The Global Market Report Of Your Requirement For A Swift Delivery And Also Get An Exclusive Discount On This Report, Checkout Link:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=18580
How Is The Competitive Landscape Of The Global Earthquake Insurance Market?
Major companies operating in the earthquake insurance market are Berkshire Hathaway Inc., State Farm Insurance, Nationwide Mutual Insurance Company, Allstate Corporation, Liberty Mutual Insurance Company, Zurich Insurance Group Ltd., Chubb Limited, The United Services Automobile Association (USAA), Mapfre S.A., The Hartford Financial Services Group Inc., American Family Mutual Insurance Company S.I., Farmers Insurance Group, Assurant Inc., Cincinnati Financial Corporation, Mercury General Corporation, Amica Mutual Insurance Company, CW Group Holdings Inc., The Earthquake Commission (EQC), GeoVera Holdings Inc., The California Earthquake Authority
Contents Of The Global Earthquake Insurance Market
1. Executive Summary
2. Earthquake Insurance Market Report Structure
3. Earthquake Insurance Market Trends And Strategies
4. Earthquake Insurance Market - Macro Economic Scenario
5. Earthquake Insurance Market Size And Growth
…..
27. Earthquake Insurance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Explore The Report Store To Make A Direct Purchase Of The Report: https://www.thebusinessresearchcompany.com/report/earthquake-insurance-global-market-report
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Earthquake Insurance Market Insights and Trends 2024 here
News-ID: 3688163 • Views: …
More Releases from The Business Research Company
Competitive Landscape: Key Market Leaders and Emerging Participants in the Ultra …
The demand for ultra pure water is on a sharp rise, driven by its critical role across multiple high-tech and industrial sectors. As industries continue to advance, ensuring the availability of water free from contaminants becomes increasingly vital. Let us explore the current market outlook, key players, emerging trends, and segment details shaping the ultra pure water market's future.
Expected Market Size and Growth Outlook for Ultra Pure Water
The ultra…
Future Perspectives: Key Trends Shaping the Styrene-Petrochemicals Market Up to …
The styrene-petrochemicals sector is positioned for steady expansion in the coming years, driven by diverse industrial demands and evolving market trends. Understanding the current landscape, key players, and emerging innovations sheds light on the future trajectory of this important chemical market.
Expected Growth and Market Size of the Styrene-Petrochemicals Industry
The styrene-petrochemicals market is projected to reach a value of $82.11 billion by 2029, growing at a compound annual growth rate…
Segmentation, Main Trends, and Competitive Overview of the Silicone Market
The silicone market is poised for significant expansion over the coming years, driven by various technological and environmental factors. This sector is rapidly evolving to meet the rising demand across multiple industries, fueled by innovations and sustainability trends. Let's explore the market's size, key players, growth drivers, emerging trends, and segmentation to understand the future outlook better.
Projected Expansion of the Silicone Market by 2029
The silicone market is expected to…
Competitive Landscape: Leading Companies and New Entrants in the Printing Inks M …
The printing inks market is on a steady upward path, driven by evolving technological innovations and growing demands from various industries. As the need for sustainable and efficient printing solutions increases, this sector is poised for significant expansion in the coming years. Below is a detailed overview of the market size, key players, trends, and segmentation shaping the future of printing inks.
Expected Market Size and Growth Prospects of the Printing…
More Releases for Insurance
Renters Insurance Market Dazzling Worldwide with Major Giants Travelers Insuranc …
According to HTF Market Intelligence, the Global Renters Insurance market to witness a CAGR of xx% during the forecast period (2024-2030). The Latest research study released by HTF MI "Renters Insurance Market with 120+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know-how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint, and status. Understanding the segments helps in identifying…
Renters Insurance Market to See Competition Rise | Travelers Insurance, Geico In …
HTF MI introduces new research on Renters Insurance covering the micro level of analysis by competitors and key business segments (2023-2029). The Renters Insurance explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled…
Insurance Road Assistance Services Market Is Booming Worldwide | Travelers Insur …
Insurance Road Assistance Services Market: The extensive research on Insurance Road Assistance Services Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on Insurance Road Assistance Services Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on the…
Agriculture Crop Insurance Market Type (MPCI Insurance, Hail Insurance, Livestoc …
Agriculture Crop Insurance market worldwide Agriculture is an important contributor to any economy. The extensive use of crops for direct human consumption and industrial processes has resulted in increasing the pressure on the existing supply demand gap. Increasing need for food security is expected to augment the demand for insurance policies. The two major risks in agricultural sector are price risk, caused due to volatility in prices in the market…
Household Insurance Market By Key Players: Discount Insurance Home Insurance, On …
Household Insurance Industry Overview
The Household Insurance market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Household Insurance market growth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Household Insurance market…
Life Insurance Market in Kuwait By Warba Insurance Company, Al Ahleia Insurance …
GlobalData’s 'Life Insurance in Kuwait, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Kuwaiti life insurance segment, and a comparison of the Kuwaiti insurance industry with its regional counterparts.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).
The report also…
