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Professional Indemnity Insurance in the UK, Key Trends and Opportunities to 2017
M2 - Fri Mar 14, 4:37AM CDT
Research and Markets (http://www.researchandmarkets.com/research/jxrrg6/professional) has announced the addition of the "Professional Indemnity Insurance in the UK, Key Trends and Opportunities to 2017" report to their offering. Premium growth in the professional indemnity insurance category remained soft during the review period (2008-2012), and declined at a compound annual growth rate (CAGR) of 0.20%, as an increase in professional negligence court cases and the volume of registered professionals requiring cover was outweighed by the recessionary economic backdrop. Premiums rose by 2.8% in 2012, to a total of GBP2.05 billion, while a further GBP0.60 billion is estimated to have been underwritten by syndicates on the Lloyd's market. Despite soft premium growth, the availability of professional indemnity insurance worsened, particularly for surveyors, small firms of solicitors and independent financial advisers (IFAs). For solicitors, the broad scope of insurance coverage requirements stipulated by the Solicitors Regulation Authority exposes insurers to a high level of risk, while in the surveyor and IFA sub-categories, insurers reduced capacity due to growing apprehension over rising claims related to property valuations and failed investments. Stronger economic growth over the forecast period is expected to ease litigation and reduce claims costs. Nevertheless, the six-year statute of limitations means insurers remain liable for negligent acts which occurred during the recession. A further risk to the outlook of claims stems from the Retail Distribution Review (RDR) increasing the exposure of whole-of-market advisers to rarer investment instruments, and the April 2013 Jackson reforms influencing compensation levels negotiated by lawyers. - The report provides market analysis, information and insights into the UK professional indemnity insurance business. - It provides a snapshot of the market's size and segmentation. - It offers a comprehensive analysis of claims, drivers and market outlook. - It provides an analysis of distribution channels. - It summarises deals, news and regulatory developments Companies Mentioned - ACE European Group Ltd - AIG Europe Ltd - AmTrust Europe Ltd - CNA Insurance Company Ltd - Chubb Insurance Company of Europe SE - HCC International Insurance Company Plc - Hiscox Ltd - QBE Insurance (Europe) Ltd - Royal & Sun Alliance Insurance Plc - XL Group Plc For more information visit http://www.researchandmarkets.com/research/jx...ofessional About Research and Markets Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Household Insurance in the UK Report: Key Trends and Opportunities to 2017
M2 - Wed Jul 10, 6:33AM CDT
Research and Markets (http://www.researchandmarkets.com/research/3bhgr6/household) has announced the addition of the "Household Insurance in the UK, Key Trends and Opportunities to 2017" report to their offering. Gross written premiums in the household insurance category rose by 0.6% annually in 2012, slowing from the expansion recorded in 2011. Premium income totaled GBP5.26 billion in 2012 and grew at a CAGR of 3.24% between 2008 and 2012. The strength of the housing market is a primary driver of demand for household insurance. 2012 saw slower growth in mortgage lending and house prices, and a slump in private housing construction. The soft recovery in the UK housing market, coupled with the fragility in the wider economy, will remain a challenge for the household insurance category. A strong rebound in economic growth is not expected to materialize until 2014, but as this recovery gains traction, growth rates in premiums will also pick up. Claims paid by household insurers jumped by 11.3% in 2012, in li
Professional Indemnity Insurance in the UK, Key Trends and Opportunities to 2017
M2 - Fri Mar 14, 4:37AM CDT
Research and Markets (http://www.researchandmarkets.com/research/jxrrg6/professional) has announced the addition of the "Professional Indemnity Insurance in the UK, Key Trends and Opportunities to 2017" report to their offering. Premium growth in the professional indemnity insurance category remained soft during the review period (2008-2012), and declined at a compound annual growth rate (CAGR) of 0.20%, as an increase in professional negligence court cases and the volume of registered professionals requiring cover was outweighed by the recessionary economic backdrop. Premiums rose by 2.8% in 2012, to a total of GBP2.05 billion, while a further GBP0.60 billion is estimated to have been underwritten by syndicates on the Lloyd's market. Despite soft premium growth, the availability of professional indemnity insurance worsened, particularly for surveyors, small firms of solicitors and independent financial advisers (IFAs). For solicitors, the broad scope of insurance coverage requirements stipulated by the Solicitors Regulation Authority exposes insurers to a high level of risk, while in the surveyor and IFA sub-categories, insurers reduced capacity due to growing apprehension over rising claims related to property valuations and failed investments. Stronger economic growth over the forecast period is expected to ease litigation and reduce claims costs. Nevertheless, the six-year statute of limitations means insurers remain liable for negligent acts which occurred during the recession. A further risk to the outlook of claims stems from the Retail Distribution Review (RDR) increasing the exposure of whole-of-market advisers to rarer investment instruments, and the April 2013 Jackson reforms influencing compensation levels negotiated by lawyers. - The report provides market analysis, information and insights into the UK professional indemnity insurance business. - It provides a snapshot of the market's size and segmentation. - It offers a comprehensive analysis of claims, drivers and market outlook. - It provides an analysis of distribution channels. - It summarises deals, news and regulatory developments Companies Mentioned - ACE European Group Ltd - AIG Europe Ltd - AmTrust Europe Ltd - CNA Insurance Company Ltd - Chubb Insurance Company of Europe SE - HCC International Insurance Company Plc - Hiscox Ltd - QBE Insurance (Europe) Ltd - Royal & Sun Alliance Insurance Plc - XL Group Plc For more information visit http://www.researchandmarkets.com/research/jx...ofessional About Research and Markets Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Household Insurance in the UK Report: Key Trends and Opportunities to 2017
M2 - Wed Jul 10, 6:33AM CDT
Research and Markets (http://www.researchandmarkets.com/research/3bhgr6/household) has announced the addition of the "Household Insurance in the UK, Key Trends and Opportunities to 2017" report to their offering. Gross written premiums in the household insurance category rose by 0.6% annually in 2012, slowing from the expansion recorded in 2011. Premium income totaled GBP5.26 billion in 2012 and grew at a CAGR of 3.24% between 2008 and 2012. The strength of the housing market is a primary driver of demand for household insurance. 2012 saw slower growth in mortgage lending and house prices, and a slump in private housing construction. The soft recovery in the UK housing market, coupled with the fragility in the wider economy, will remain a challenge for the household insurance category. A strong rebound in economic growth is not expected to materialize until 2014, but as this recovery gains traction, growth rates in premiums will also pick up. Claims paid by household insurers jumped by 11.3% in 2012, in li
