Report overview
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.
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. This report contains market size and forecasts of Professional Liability Insurance in global, including the following market information:
Global Professional Liability Insurance Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Professional Liability Insurance market was valued at US$ 44740 million in 2022 and is projected to reach US$ 55980 million by 2029, at a CAGR of 3.3% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
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 $5 Million.
We surveyed the Professional Liability Insurance companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Professional Liability Insurance Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global Professional Liability Insurance Market Segment Percentages, by Type, 2022 (%)
Medical Liability
Lawyer Liability
CPA Liability
Construction & Engineering Liability
Other Liability
Global Professional Liability Insurance Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Professional Liability Insurance Market Segment Percentages, by Application, 2022 (%)
Up to $1 Million
$1 Million to $5 Million
$5 Million to $20 Million
Over $20 Million
Global Professional Liability Insurance Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Professional Liability Insurance Market Segment Percentages, By Region and Country, 2022 (%)
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, 2018-2023 (estimated), ($ millions)
Key companies Professional Liability Insurance revenues share in global market, 2022 (%)
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
Outline of Major Chapters:
Chapter 1: Introduces the definition of Professional Liability Insurance, market overview.
Chapter 2: Global Professional Liability Insurance market size in revenue.
Chapter 3: Detailed analysis of Professional Liability Insurance company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: 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 5: 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 6: Sales of Professional Liability Insurance in regional level and country level. 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 of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
