Worldwide Motor Vehicle Liability Insurance Industry to 2030 – Featuring Allstate, Chubb and State Farm Among Others – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--
The "Motor Vehicle Liability Insurance Market By Mode, Distribution Channel, Vehicle Age, and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

Motor vehicle liability insurance is insurance coverage geared specifically to provide financial protection for a driver who harms someone else or their property while operating a vehicle. It only covers injuries or damages to third parties and their property not to the driver or the driver's property, which may be separately covered by other parts of their policy.

Furthermore, various companies are making it mandatory to have a motor vehicle liability insurance for every vehicle running on road, which enhances the growth of the market. In addition, the biggest benefit of the insurance is that the cost of insurance is very cheap compared to other motor insurance, which is increasing its demand in various developing nations across the globe.

Low cost of motor vehicle liability insurance and legal liability provided to the insured party positively impacts the growth of the market. In addition, rise in stringent government regulation regarding liability insurance boost the growth of the market across the globe. However, factors such as rise in number of false claims and rise in social inflations are limiting the growth of the market. On the contrary, advancements of technologies in big data, advanced analytics and artificial intelligence is expected to offer remunerative opportunities for the expansion of the market during the forecast period.

The global motor vehicle liability insurance market is segmented on the basis of mode, distribution channel, vehicle age, application, and region. Depending on mode, the market is segregated into offline and online. On the basis of distribution channel, it is categorized into independent agents/brokers, direct response, banks, and others. Depending on vehicle type, it is fragmented into new vehicle and used vehicle. Based on application, the market is divided into personal and commercial. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Companies Mentioned

• Allstate
• AXA XL
• Chubb Limited
• Great American
• Hiscox Ltd.
• Nationwide
• Progressive Commercial
• State Farm
• The Hartford
• The Travelers Indemnity Company.

Key Benefits

• The study provides an in-depth analysis of the global motor vehicle liability insurance market forecast along with the current trends and future estimations to explain the imminent investment pockets.
• Information about key drivers, restraints, & opportunities and their impact analysis on the global market is provided in the report.
• Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
• The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential.

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope

3.2. Key forces shaping motor vehicle liability insurance industry/market

3.2.1. Market dynamics

3.2.1.1. Low cost of motor vehicle liability insurance

3.2.1.2. Rise in number of road accidents

3.2.1.3. Stringent government regarding liability payment

3.2.2.1. Rising number of false claims

3.2.2.2. Lack of awareness regarding motor vehicle liability insurance policy

3.2.3. Opportunities

3.2.3.1. Increasing demand for motor vehicle liability insurance products and services

3.2.3.2. Implementation of technologies in existing product and service lines

CHAPTER 4: MOTOR VEHICLE LIABILITY INSURANCE MARKET, BY MODE

CHAPTER 5: MOTOR VEHICLE LIABILITY INSURANCE MARKET, BY DISTRIBUTION CHANNEL

CHAPTER 6: MOTOR VEHICLE LIABILITY INSURANCE MARKET, BY VEHICLE AGE

CHAPTER 7: MOTOR VEHICLE LIABILITY INSURANCE MARKET, BY APPLICATION

CHAPTER 8: MOTOR VEHICLE LIABILITY INSURANCE MARKET, BY REGION

CHAPTER 9: COMPANY PROFILE

For more information about this report visit https://www.researchandmarkets.com/r/78gmid.

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Source: Research and Markets