Liability Insurance Market

Liability Insurance Market 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.

Liability Insurance Market contains market size and forecasts of Professional Liability Insurance in Global, including the following market information:

Global Professional Liability Insurance Market Revenue, 2017-2022, 2023-2028, ($ millions)

Global top five companies in 2021 (%)

The global Professional Liability Insurance market was valued at 44740 million in 2021 and is projected to reach US$ 55980 million by 2028, at a CAGR of 3.3% during the forecast period.

The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.

Medical Liability Segment to Reach $ Million by 2028, with a % CAGR in next six years.

The global key manufacturers of Professional Liability Insurance include Chubb (ACE), AIG, Hiscox, Allianz, Tokio Marine Holdings, XL Group, AXA, Travelers and Assicurazioni Generali, etc. In 2021, the global top five players have a share approximately % in terms of revenue.

We surveyed the Professional Liability Insurance companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Professional Liability Insurance Market, by Type, 2017-2022, 2023-2028 ($ millions)

Global Professional Liability Insurance Market Segment Percentages, by Type, 2021 (%)

Medical Liability

Lawyer Liability

CPA Liability

Construction & Engineering Liability

Other Liability

Global Professional Liability Insurance Market, by Application, 2017-2022, 2023-2028 ($ millions)

Global Professional Liability Insurance Market Segment Percentages, by Application, 2021 (%)

Up to $1 Million

$1 Million to $5 Million

$5 Million to $20 Million

Over $20 Million

Global Professional Liability Insurance Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)

Global Professional Liability Insurance Market Segment Percentages, By Region and Country, 2021 (%)

North America

US

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Russia

Nordic Countries

Benelux

Rest of Europe

Asia

China

Japan

South Korea

Southeast Asia

India

Rest of Asia

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

Turkey

Israel

Saudi Arabia

UAE

Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

Key companies Professional Liability Insurance revenues in global market, 2017-2022 (estimated), ($ millions)

Key companies Professional Liability Insurance revenues share in global market, 2021 (%)

Further, the report presents profiles of competitors in the market, key players 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