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Professional Liability Insurance Industry Research Report 2024

April 2024 | 146 pages | ID: PEE139A901BDEN
APO Research

US$ 2,950.00

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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 valued at US$ million in 2023 and is anticipated to reach 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, price, and sales 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
  • United States
  • Canada
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Russia
  • Nordic Countries
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • Southeast Asia
  • India
  • Australia
  • Rest of Asia
  • Latin America
  • Mexico
  • Brazil
  • Rest of Latin America
  • Middle East & Africa
  • Turkey
  • Saudi Arabia
  • UAE
  • Rest of MEA
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 volume and 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: Research objectives, research methods, data sources, data cross-validation;

Chapter 2: Introduces the report scope of the report, executive summary of different market segments (product type, application, etc), including the market size of each market segment, future development potential, and so on. 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 3: Provides the analysis of various market segments product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 4: Provides the analysis of various market segments 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 5: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.

Chapter 6: Detailed analysis of Professional Liability Insurance companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 7, 8, 9, 10, 11: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.

Chapter 12: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including revenue, gross margin, product introduction, recent development, etc.

Chapter 13: The main points and conclusions of the report.

Chapter 13: The main points and conclusions of the report.
1 PREFACE

1.1 Scope of Report
1.2 Reasons for Doing This Study
1.3 Research Methodology
1.4 Research Process
1.5 Data Source
  1.5.1 Secondary Sources
  1.5.2 Primary Sources

2 MARKET OVERVIEW

2.1 Product Definition
2.2 Professional Liability Insurance by Type
  2.2.1 Market Value Comparison by Type (2019 VS 2023 VS 2030)
  2.2.2 Medical Liability
  2.2.3 Lawyer Liability
  2.2.4 CPA Liability
  2.2.5 Construction & Engineering Liability
  2.2.6 Other Liability
2.3 Professional Liability Insurance by Application
  2.3.1 Market Value Comparison by Application (2019 VS 2023 VS 2030)
  2.3.2 Up to $1 Million
  2.3.3 $1 Million to $5 Million
  2.3.4 $5 Million to $20 Million
  2.3.5 Over $20 Million
2.4 Assumptions and Limitations

3 PROFESSIONAL LIABILITY INSURANCE BREAKDOWN DATA BY TYPE

3.1 Global Professional Liability Insurance Historic Market Size by Type (2019-2024)
3.2 Global Professional Liability Insurance Forecasted Market Size by Type (2025-2030)

4 PROFESSIONAL LIABILITY INSURANCE BREAKDOWN DATA BY APPLICATION

4.1 Global Professional Liability Insurance Historic Market Size by Application (2019-2024)
4.2 Global Professional Liability Insurance Forecasted Market Size by Application (2019-2024)

5 GLOBAL GROWTH TRENDS

5.1 Global Professional Liability Insurance Market Perspective (2019-2030)
5.2 Global Professional Liability Insurance Growth Trends by Region
  5.2.1 Global Professional Liability Insurance Market Size by Region: 2019 VS 2023 VS 2030
  5.2.2 Professional Liability Insurance Historic Market Size by Region (2019-2024)
  5.2.3 Professional Liability Insurance Forecasted Market Size by Region (2025-2030)
5.3 Professional Liability Insurance Market Dynamics
  5.3.1 Professional Liability Insurance Industry Trends
  5.3.2 Professional Liability Insurance Market Drivers
  5.3.3 Professional Liability Insurance Market Challenges
  5.3.4 Professional Liability Insurance Market Restraints

6 MARKET COMPETITIVE LANDSCAPE BY PLAYERS

6.1 Global Top Professional Liability Insurance Players by Revenue
  6.1.1 Global Top Professional Liability Insurance Players by Revenue (2019-2024)
  6.1.2 Global Professional Liability Insurance Revenue Market Share by Players (2019-2024)
6.2 Global Professional Liability Insurance Industry Players Ranking, 2022 VS 2023 VS 2024
6.3 Global Key Players of Professional Liability Insurance Head office and Area Served
6.4 Global Professional Liability Insurance Players, Product Type & Application
6.5 Global Professional Liability Insurance Players, Date of Enter into This Industry
6.6 Global Professional Liability Insurance Market CR5 and HHI
6.7 Global Players Mergers & Acquisition

7 NORTH AMERICA

7.1 North America Professional Liability Insurance Market Size (2019-2030)
7.2 North America Professional Liability Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 North America Professional Liability Insurance Market Size by Country (2019-2024)
7.4 North America Professional Liability Insurance Market Size by Country (2025-2030)
7.5 United States
7.6 Canada

8 EUROPE

8.1 Europe Professional Liability Insurance Market Size (2019-2030)
8.2 Europe Professional Liability Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
8.3 Europe Professional Liability Insurance Market Size by Country (2019-2024)
8.4 Europe Professional Liability Insurance Market Size by Country (2025-2030)
8.5 Germany
8.6 France
8.7 U.K.
8.8 Italy
8.9 Russia
8.10 Nordic Countries

9 ASIA-PACIFIC

9.1 Asia-Pacific Professional Liability Insurance Market Size (2019-2030)
9.2 Asia-Pacific Professional Liability Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Asia-Pacific Professional Liability Insurance Market Size by Country (2019-2024)
9.4 Asia-Pacific Professional Liability Insurance Market Size by Country (2025-2030)
9.5 China
9.6 Japan
9.7 South Korea
9.8 Southeast Asia
9.9 India
9.10 Australia

10 LATIN AMERICA

10.1 Latin America Professional Liability Insurance Market Size (2019-2030)
10.2 Latin America Professional Liability Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Latin America Professional Liability Insurance Market Size by Country (2019-2024)
10.4 Latin America Professional Liability Insurance Market Size by Country (2025-2030)
10.5 Mexico
10.6 Brazil

11 MIDDLE EAST & AFRICA

11.1 Middle East & Africa Professional Liability Insurance Market Size (2019-2030)
11.2 Middle East & Africa Professional Liability Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
11.3 Middle East & Africa Professional Liability Insurance Market Size by Country (2019-2024)
11.4 Middle East & Africa Professional Liability Insurance Market Size by Country (2025-2030)
11.5 Turkey
11.6 Saudi Arabia
11.7 UAE

12 PLAYERS PROFILED

12.1 Chubb (ACE)
  12.1.1 Chubb (ACE) Company Information
  12.1.2 Chubb (ACE) Business Overview
  12.1.3 Chubb (ACE) Revenue in Professional Liability Insurance Business (2019-2024)
  12.1.4 Chubb (ACE) Professional Liability Insurance Product Portfolio
  12.1.5 Chubb (ACE) Recent Developments
12.2 AIG
  12.2.1 AIG Company Information
  12.2.2 AIG Business Overview
  12.2.3 AIG Revenue in Professional Liability Insurance Business (2019-2024)
  12.2.4 AIG Professional Liability Insurance Product Portfolio
  12.2.5 AIG Recent Developments
12.3 Hiscox
  12.3.1 Hiscox Company Information
  12.3.2 Hiscox Business Overview
  12.3.3 Hiscox Revenue in Professional Liability Insurance Business (2019-2024)
  12.3.4 Hiscox Professional Liability Insurance Product Portfolio
  12.3.5 Hiscox Recent Developments
12.4 Allianz
  12.4.1 Allianz Company Information
  12.4.2 Allianz Business Overview
  12.4.3 Allianz Revenue in Professional Liability Insurance Business (2019-2024)
  12.4.4 Allianz Professional Liability Insurance Product Portfolio
  12.4.5 Allianz Recent Developments
12.5 Tokio Marine Holdings
  12.5.1 Tokio Marine Holdings Company Information
  12.5.2 Tokio Marine Holdings Business Overview
  12.5.3 Tokio Marine Holdings Revenue in Professional Liability Insurance Business (2019-2024)
  12.5.4 Tokio Marine Holdings Professional Liability Insurance Product Portfolio
  12.5.5 Tokio Marine Holdings Recent Developments
12.6 XL Group
  12.6.1 XL Group Company Information
  12.6.2 XL Group Business Overview
  12.6.3 XL Group Revenue in Professional Liability Insurance Business (2019-2024)
  12.6.4 XL Group Professional Liability Insurance Product Portfolio
  12.6.5 XL Group Recent Developments
12.7 AXA
  12.7.1 AXA Company Information
  12.7.2 AXA Business Overview
  12.7.3 AXA Revenue in Professional Liability Insurance Business (2019-2024)
  12.7.4 AXA Professional Liability Insurance Product Portfolio
  12.7.5 AXA Recent Developments
12.8 Travelers
  12.8.1 Travelers Company Information
  12.8.2 Travelers Business Overview
  12.8.3 Travelers Revenue in Professional Liability Insurance Business (2019-2024)
  12.8.4 Travelers Professional Liability Insurance Product Portfolio
  12.8.5 Travelers Recent Developments
12.9 Assicurazioni Generali
  12.9.1 Assicurazioni Generali Company Information
  12.9.2 Assicurazioni Generali Business Overview
  12.9.3 Assicurazioni Generali Revenue in Professional Liability Insurance Business (2019-2024)
  12.9.4 Assicurazioni Generali Professional Liability Insurance Product Portfolio
  12.9.5 Assicurazioni Generali Recent Developments
12.10 Doctors Company
  12.10.1 Doctors Company Company Information
  12.10.2 Doctors Company Business Overview
  12.10.3 Doctors Company Revenue in Professional Liability Insurance Business (2019-2024)
  12.10.4 Doctors Company Professional Liability Insurance Product Portfolio
  12.10.5 Doctors Company Recent Developments
12.11 Marsh & McLennan
  12.11.1 Marsh & McLennan Company Information
  12.11.2 Marsh & McLennan Business Overview
  12.11.3 Marsh & McLennan Revenue in Professional Liability Insurance Business (2019-2024)
  12.11.4 Marsh & McLennan Professional Liability Insurance Product Portfolio
  12.11.5 Marsh & McLennan Recent Developments
12.12 Liberty Mutual
  12.12.1 Liberty Mutual Company Information
  12.12.2 Liberty Mutual Business Overview
  12.12.3 Liberty Mutual Revenue in Professional Liability Insurance Business (2019-2024)
  12.12.4 Liberty Mutual Professional Liability Insurance Product Portfolio
  12.12.5 Liberty Mutual Recent Developments
12.13 Medical Protective
  12.13.1 Medical Protective Company Information
  12.13.2 Medical Protective Business Overview
  12.13.3 Medical Protective Revenue in Professional Liability Insurance Business (2019-2024)
  12.13.4 Medical Protective Professional Liability Insurance Product Portfolio
  12.13.5 Medical Protective Recent Developments
12.14 Aviva
  12.14.1 Aviva Company Information
  12.14.2 Aviva Business Overview
  12.14.3 Aviva Revenue in Professional Liability Insurance Business (2019-2024)
  12.14.4 Aviva Professional Liability Insurance Product Portfolio
  12.14.5 Aviva Recent Developments
12.15 Zurich
  12.15.1 Zurich Company Information
  12.15.2 Zurich Business Overview
  12.15.3 Zurich Revenue in Professional Liability Insurance Business (2019-2024)
  12.15.4 Zurich Professional Liability Insurance Product Portfolio
  12.15.5 Zurich Recent Developments
12.16 Sompo Japan Nipponkoa
  12.16.1 Sompo Japan Nipponkoa Company Information
  12.16.2 Sompo Japan Nipponkoa Business Overview
  12.16.3 Sompo Japan Nipponkoa Revenue in Professional Liability Insurance Business (2019-2024)
  12.16.4 Sompo Japan Nipponkoa Professional Liability Insurance Product Portfolio
  12.16.5 Sompo Japan Nipponkoa Recent Developments
12.17 Munich Re
  12.17.1 Munich Re Company Information
  12.17.2 Munich Re Business Overview
  12.17.3 Munich Re Revenue in Professional Liability Insurance Business (2019-2024)
  12.17.4 Munich Re Professional Liability Insurance Product Portfolio
  12.17.5 Munich Re Recent Developments
12.18 Aon
  12.18.1 Aon Company Information
  12.18.2 Aon Business Overview
  12.18.3 Aon Revenue in Professional Liability Insurance Business (2019-2024)
  12.18.4 Aon Professional Liability Insurance Product Portfolio
  12.18.5 Aon Recent Developments
12.19 Beazley
  12.19.1 Beazley Company Information
  12.19.2 Beazley Business Overview
  12.19.3 Beazley Revenue in Professional Liability Insurance Business (2019-2024)
  12.19.4 Beazley Professional Liability Insurance Product Portfolio
  12.19.5 Beazley Recent Developments
12.20 Mapfre
  12.20.1 Mapfre Company Information
  12.20.2 Mapfre Business Overview
  12.20.3 Mapfre Revenue in Professional Liability Insurance Business (2019-2024)
  12.20.4 Mapfre Professional Liability Insurance Product Portfolio
  12.20.5 Mapfre Recent Developments

13 REPORT CONCLUSION

14 DISCLAIMER



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