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Global Professional Liability Insurance Market Size, Manufacturers, Opportunities and Forecast to 2030

April 2024 | 124 pages | ID: G8DC3E0B08FDEN
APO Research

US$ 3,450.00

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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.

According to APO Research, The global Professional Liability Insurance market was estimated at US$ million in 2023 and is projected to reach a revised size of US$ million by 2030, witnessing a CAGR of xx% during the forecast period 2024-2030.

Global Professional Liability Insurance key players include Chubb, AIG, AXA, Hiscox, Allianz, etc. Global top five manufacturers hold a share over 25%.

North America is the largest market, with a share about 60%, followed by Europe and Asia-Pacific, both have a share about 35 percent.

In terms of product, Medical Liability is the largest segment, with a share about 30%. And in terms of application, the largest application is Up to $1 Million, followed by $1 Million to $5 Million.

Report Scope

This report aims to provide a comprehensive presentation of the global market for Professional Liability Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Professional Liability Insurance.

The Professional Liability Insurance market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Professional Liability Insurance market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided. For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

Key Companies & Market Share Insights

In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, gross margin by manufacturers for the period 2019-2024. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses. Some of the prominent players reviewed in the research report include:
  • 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
  • Mapfre
Professional Liability Insurance segment by Type
  • Medical Liability
  • Lawyer Liability
  • CPA Liability
  • Construction & Engineering Liability
  • Other Liability
Professional Liability Insurance segment by Application
  • Up to $1 Million
  • $1 Million to $5 Million
  • $5 Million to $20 Million
  • Over $20 Million
Professional Liability Insurance Segment by Region
  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Russia
  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • China Taiwan
  • Indonesia
  • Thailand
  • Malaysia
  • Latin America
  • Mexico
  • Brazil
  • Argentina
  • Middle East & Africa
  • Turkey
  • Saudi Arabia
  • UAE
Key Drivers & Barriers

High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.

Reasons to Buy This Report

1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Professional Liability Insurance market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.

2. This report will help stakeholders to understand the global industry status and trends of Professional Liability Insurance and provides them with information on key market drivers, restraints, challenges, and opportunities.

3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in value), competitor ecosystem, new product development, expansion, and acquisition.

4. This report stays updated with novel technology integration, features, and the latest developments in the market

5. This report helps stakeholders to gain insights into which regions to target globally

6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Professional Liability Insurance.

7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

Chapter Outline

Chapter 1: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2019-2024, 2025-2030). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 3: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 4: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 5: Detailed analysis of Professional Liability Insurance companies' competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.

Chapter 6: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.

Chapter 7, 8, 9, 10 and 11: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.

Chapter 12: Concluding Insights of the report

Chapter 12: Concluding Insights of the report
1 MARKET OVERVIEW

1.1 Product Definition
1.2 Global Market Growth Prospects
1.3 Global Professional Liability Insurance Market Size Overview by Region 2019 VS 2023 VS 2030
1.4 Global Professional Liability Insurance Market Size by Region (2019-2030)
  1.4.1 Global Professional Liability Insurance Market Size by Region (2019-2024)
  1.4.2 Global Professional Liability Insurance Market Size by Region (2025-2030)
1.5 Key Regions Professional Liability Insurance Market Size (2019-2030)
  1.5.1 North America Professional Liability Insurance Market Size Growth Rate (2019-2030)
  1.5.2 Europe Professional Liability Insurance Market Size Growth Rate (2019-2030)
  1.5.3 Asia-Pacific Professional Liability Insurance Market Size Growth Rate (2019-2030)
  1.5.4 Latin America Professional Liability Insurance Market Size Growth Rate (2019-2030)
  1.5.5 Middle East & Africa Professional Liability Insurance Market Size Growth Rate (2019-2030)

2 PROFESSIONAL LIABILITY INSURANCE MARKET BY TYPE

2.1 Type Introduction
  2.1.1 Medical Liability
  2.1.2 Lawyer Liability
  2.1.3 CPA Liability
  2.1.4 Construction & Engineering Liability
  2.1.5 Other Liability
2.2 Global Professional Liability Insurance Market Size by Type
  2.2.1 Global Professional Liability Insurance Market Size Overview by Type (2019-2030)
  2.2.2 Global Professional Liability Insurance Historic Market Size Review by Type (2019-2024)
  2.2.3 Global Professional Liability Insurance Market Size Forecasted by Type (2025-2030)
2.3 Global Professional Liability Insurance Market Size by Regions
  2.3.1 North America Professional Liability Insurance Market Size Breakdown by Type (2019-2024)
  2.3.2 Europe Professional Liability Insurance Market Size Breakdown by Type (2019-2024)
  2.3.3 Asia-Pacific Professional Liability Insurance Market Size Breakdown by Type (2019-2024)
  2.3.4 Latin America Professional Liability Insurance Market Size Breakdown by Type (2019-2024)
  2.3.5 Middle East and Africa Professional Liability Insurance Market Size Breakdown by Type (2019-2024)

3 PROFESSIONAL LIABILITY INSURANCE MARKET BY APPLICATION

3.1 Type Introduction
  3.1.1 Up to $1 Million
  3.1.2 $1 Million to $5 Million
  3.1.3 $5 Million to $20 Million
  3.1.4 Over $20 Million
3.2 Global Professional Liability Insurance Market Size by Application
  3.2.1 Global Professional Liability Insurance Market Size Overview by Application (2019-2030)
  3.2.2 Global Professional Liability Insurance Historic Market Size Review by Application (2019-2024)
  3.2.3 Global Professional Liability Insurance Market Size Forecasted by Application (2025-2030)
3.3 Global Professional Liability Insurance Market Size by Regions
  3.3.1 North America Professional Liability Insurance Market Size Breakdown by Application (2019-2024)
  3.3.2 Europe Professional Liability Insurance Market Size Breakdown by Application (2019-2024)
  3.3.3 Asia-Pacific Professional Liability Insurance Market Size Breakdown by Application (2019-2024)
  3.3.4 Latin America Professional Liability Insurance Market Size Breakdown by Application (2019-2024)
  3.3.5 Middle East and Africa Professional Liability Insurance Market Size Breakdown by Application (2019-2024)

4 GLOBAL MARKET DYNAMICS

4.1 Professional Liability Insurance Industry Trends
4.2 Professional Liability Insurance Industry Drivers
4.3 Professional Liability Insurance Industry Opportunities and Challenges
4.4 Professional Liability Insurance Industry Restraints

5 COMPETITIVE INSIGHTS BY COMPANY

5.1 Global Top Players by Professional Liability Insurance Revenue (2019-2024)
5.2 Global Professional Liability Insurance Industry Company Ranking, 2022 VS 2023 VS 2024
5.3 Global Professional Liability Insurance Key Company Headquarters & Area Served
5.4 Global Professional Liability Insurance Company, Product Type & Application
5.5 Global Professional Liability Insurance Company Commercialization Time
5.6 Market Competitive Analysis
  5.6.1 Global Professional Liability Insurance Market CR5 and HHI
  5.6.2 Global Top 5 and 10 Professional Liability Insurance Players Market Share by Revenue in 2023
  5.6.3 2023 Professional Liability Insurance Tier 1, Tier 2, and Tier

6 COMPANY PROFILES

6.1 Chubb (ACE)
  6.1.1 Chubb (ACE) Comapny Information
  6.1.2 Chubb (ACE) Business Overview
  6.1.3 Chubb (ACE) Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.1.4 Chubb (ACE) Professional Liability Insurance Product Portfolio
  6.1.5 Chubb (ACE) Recent Developments
6.2 AIG
  6.2.1 AIG Comapny Information
  6.2.2 AIG Business Overview
  6.2.3 AIG Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.2.4 AIG Professional Liability Insurance Product Portfolio
  6.2.5 AIG Recent Developments
6.3 Hiscox
  6.3.1 Hiscox Comapny Information
  6.3.2 Hiscox Business Overview
  6.3.3 Hiscox Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.3.4 Hiscox Professional Liability Insurance Product Portfolio
  6.3.5 Hiscox Recent Developments
6.4 Allianz
  6.4.1 Allianz Comapny Information
  6.4.2 Allianz Business Overview
  6.4.3 Allianz Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.4.4 Allianz Professional Liability Insurance Product Portfolio
  6.4.5 Allianz Recent Developments
6.5 Tokio Marine Holdings
  6.5.1 Tokio Marine Holdings Comapny Information
  6.5.2 Tokio Marine Holdings Business Overview
  6.5.3 Tokio Marine Holdings Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.5.4 Tokio Marine Holdings Professional Liability Insurance Product Portfolio
  6.5.5 Tokio Marine Holdings Recent Developments
6.6 XL Group
  6.6.1 XL Group Comapny Information
  6.6.2 XL Group Business Overview
  6.6.3 XL Group Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.6.4 XL Group Professional Liability Insurance Product Portfolio
  6.6.5 XL Group Recent Developments
6.7 AXA
  6.7.1 AXA Comapny Information
  6.7.2 AXA Business Overview
  6.7.3 AXA Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.7.4 AXA Professional Liability Insurance Product Portfolio
  6.7.5 AXA Recent Developments
6.8 Travelers
  6.8.1 Travelers Comapny Information
  6.8.2 Travelers Business Overview
  6.8.3 Travelers Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.8.4 Travelers Professional Liability Insurance Product Portfolio
  6.8.5 Travelers Recent Developments
6.9 Assicurazioni Generali
  6.9.1 Assicurazioni Generali Comapny Information
  6.9.2 Assicurazioni Generali Business Overview
  6.9.3 Assicurazioni Generali Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.9.4 Assicurazioni Generali Professional Liability Insurance Product Portfolio
  6.9.5 Assicurazioni Generali Recent Developments
6.10 Doctors Company
  6.10.1 Doctors Company Comapny Information
  6.10.2 Doctors Company Business Overview
  6.10.3 Doctors Company Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.10.4 Doctors Company Professional Liability Insurance Product Portfolio
  6.10.5 Doctors Company Recent Developments
6.11 Marsh & McLennan
  6.11.1 Marsh & McLennan Comapny Information
  6.11.2 Marsh & McLennan Business Overview
  6.11.3 Marsh & McLennan Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.11.4 Marsh & McLennan Professional Liability Insurance Product Portfolio
  6.11.5 Marsh & McLennan Recent Developments
6.12 Liberty Mutual
  6.12.1 Liberty Mutual Comapny Information
  6.12.2 Liberty Mutual Business Overview
  6.12.3 Liberty Mutual Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.12.4 Liberty Mutual Professional Liability Insurance Product Portfolio
  6.12.5 Liberty Mutual Recent Developments
6.13 Medical Protective
  6.13.1 Medical Protective Comapny Information
  6.13.2 Medical Protective Business Overview
  6.13.3 Medical Protective Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.13.4 Medical Protective Professional Liability Insurance Product Portfolio
  6.13.5 Medical Protective Recent Developments
6.14 Aviva
  6.14.1 Aviva Comapny Information
  6.14.2 Aviva Business Overview
  6.14.3 Aviva Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.14.4 Aviva Professional Liability Insurance Product Portfolio
  6.14.5 Aviva Recent Developments
6.15 Zurich
  6.15.1 Zurich Comapny Information
  6.15.2 Zurich Business Overview
  6.15.3 Zurich Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.15.4 Zurich Professional Liability Insurance Product Portfolio
  6.15.5 Zurich Recent Developments
6.16 Sompo Japan Nipponkoa
  6.16.1 Sompo Japan Nipponkoa Comapny Information
  6.16.2 Sompo Japan Nipponkoa Business Overview
  6.16.3 Sompo Japan Nipponkoa Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.16.4 Sompo Japan Nipponkoa Professional Liability Insurance Product Portfolio
  6.16.5 Sompo Japan Nipponkoa Recent Developments
6.17 Munich Re
  6.17.1 Munich Re Comapny Information
  6.17.2 Munich Re Business Overview
  6.17.3 Munich Re Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.17.4 Munich Re Professional Liability Insurance Product Portfolio
  6.17.5 Munich Re Recent Developments
6.18 Aon
  6.18.1 Aon Comapny Information
  6.18.2 Aon Business Overview
  6.18.3 Aon Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.18.4 Aon Professional Liability Insurance Product Portfolio
  6.18.5 Aon Recent Developments
6.19 Beazley
  6.19.1 Beazley Comapny Information
  6.19.2 Beazley Business Overview
  6.19.3 Beazley Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.19.4 Beazley Professional Liability Insurance Product Portfolio
  6.19.5 Beazley Recent Developments
6.20 Mapfre
  6.20.1 Mapfre Comapny Information
  6.20.2 Mapfre Business Overview
  6.20.3 Mapfre Professional Liability Insurance Revenue, Global Share and Gross Margin (2019-2024)
  6.20.4 Mapfre Professional Liability Insurance Product Portfolio
  6.20.5 Mapfre Recent Developments

7 NORTH AMERICA

7.1 North America Professional Liability Insurance Market Size Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
7.2 North America Professional Liability Insurance Market Size by Country (2019-2024)
7.3 North America Professional Liability Insurance Market Size Forecast by Country (2025-2030)

8 EUROPE

8.1 Europe Professional Liability Insurance Market Size Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
8.2 Europe Professional Liability Insurance Market Size by Country (2019-2024)
8.3 Europe Professional Liability Insurance Market Size Forecast by Country (2025-2030)

9 ASIA-PACIFIC

9.1 Asia-Pacific Professional Liability Insurance Market Size Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
9.2 Asia-Pacific Professional Liability Insurance Market Size by Country (2019-2024)
9.3 Asia-Pacific Professional Liability Insurance Market Size Forecast by Country (2025-2030)

10 LATIN AMERICA

10.1 Latin America Professional Liability Insurance Market Size Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
10.2 Latin America Professional Liability Insurance Market Size by Country (2019-2024)
10.3 Latin America Professional Liability Insurance Market Size Forecast by Country (2025-2030)

11 MIDDLE EAST & AFRICA

11.1 Middle East & Africa Professional Liability Insurance Market Size Growth Rate (CAGR) by Country: 2019 VS 2023 VS 2030
11.2 Middle East & Africa Professional Liability Insurance Market Size by Country (2019-2024)
11.3 Middle East & Africa Professional Liability Insurance Market Size Forecast by Country (2025-2030)

12 CONCLUDING INSIGHTS

13 APPENDIX

13.1 Reasons for Doing This Study
13.2 Research Methodology
13.3 Research Process
13.4 Authors List of This Report
13.5 Data Source
  13.5.1 Secondary Sources
  13.5.2 Primary Sources


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