Global Professional Liability Insurance Market Is Expected to Reach 48500 Million US$ by the End of 2025

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Los Angeles, CA -- (SBWIRE) -- 05/06/2019 -- 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.

n most cases, growth is likely to be faster in less-developed markets than in developed ones, although much also depends on the degree to which significant competition exists among underwriters in this field and on future claims experience in each country.

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Medical Professional Liability Insurance, at US$15.7 billion, accounted for the biggest chunk (40.8%) of the worldwide market pie by professional category. That was followed by approximately US$7.5 billion to professionals in the lawyer, and about US$15.2 billion to professionals in all other segments combined.

In 2018, the global Professional Liability Insurance market size was 38400 million US$ and it is expected to reach 48500 million US$ by the end of 2025, with a CAGR of 3.0% between 2019 and 2025.

This report studies the Professional Liability Insurance market size by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

This report focuses on the global top players, covered

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

Market segment by Regions/Countries, this report covers

North America

Europe

China

Rest of Asia Pacific

Central & South America

Middle East & Africa

Market segment by Type, the product can be split into

Medical Liability Insurance

Lawyer Liability Insurance

Construction & Engineering Liability Insurance

Other Liability Insurance

Market segment by Application, the market can be split into

Up to $1 Million

$1 Million to $5 Million

$5 Million to $20 Million

Over $20 Million

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