Professional Indemnity Insurance in Europe
Finaccord, May 2011, Pages: 223
“Professional Indemnity Insurance in Europe” is about the market for and distribution of policies covering professional liability as it exists in ten countries in Europe: Belgium, France, Germany, Italy, Netherlands, Poland, Spain, Sweden, Switzerland and the UK.
For 2006, 2010 and with a forecast for 2014, the study breaks down the market for professional indemnity insurance not only by country but also, on a standardised basis, by professional category with ten categories considered as follows:
- accountancy and finance;
- architecture and engineering;
- broadcasting and publishing;
- complementary medicine;
- estate agency and property;
- IT, management and financial consulting;
- legal services;
- marketing;
- medicine, dentistry and other healthcare activities;
- and other professional sectors.
Furthermore, for each country, it identifies affinity schemes for professional indemnity insurance set up between professional associations and brokers or underwriters of this type of cover, highlights other key underwriters and brokers of professional indemnity insurance and other distribution channels used to sell this form of insurance, and discusses key issues associated with the market. As such, the report is the most comprehensive analysis of professional indemnity insurance in Europe ever produced.
You may be able to use this report and the accompanying PartnerBASE™ dataset in one or more of the following ways:
- to compare the size, growth rates and future prospects of professional indemnity insurance markets across ten major countries in Europe;
- to evaluate the potential for your organisation to target professional indemnity propositions at specific professions;
- to understand the competitive environment for broking and underwriting by both country and professional category;
- to gain access to a single comprehensive source of information providing broker and / or underwriter details for 430 affinity schemes set up by professional associations for this form of insurance;
- to appreciate which countries and professional categories offer the best long-term potential, which are already saturated with competitors, and what product or distribution innovations are occurring.
What are the key features of this research?
- Segmentation of these markets between ten categories of professional enterprise; what is the magnitude of the opportunity in each of these market segments?
- Affinity scheme analysis: Which professional associations have set up accredited programs for professional indemnity insurance, with which brokers and/or underwriters do they hold relationships to this end and what is the importance of specific brokers and underwriters in the overall schemes marketplace?
- Availability of an accompanying PatnerBASE dataset that fully logs 430 affinity schemes identified by Finaccord across 1,100 professional associations
- Forecasts for the market for professional indemnity insurance in Europe segmented both by country and by category of professional enterprise: what is this sector likely to look like in 2014?
Who can use the research?
1. Underwriters: This report provides an unique analysis of a market worth EUR5.81billion across ten countries in Europe and offers valuable insights into its dynamics broken out by professional category for both actual and aspiring underwriters of professional indemnity insurance;
2. Brokers: Over 60% of the 430 identified affinity programs established with professional associations involve a broker and over 150 individual brokers in total are active in the market for these schemes: your organisation can understand more about the competitive environment in this arena by subscribing to this research;
3. Banks: Almost all enterprises eligible for professional indemnity insurance will also be business banking customers yet banks are relatively minor distributors of this type of policy, in spite of the fact that it accounts for a significant portion of the overall commercial lines market;
4. Management consultancies: Are you helping an insurance broker or underwriter with its future plans for professional indemnity insurance in any or all of these ten countries? Save time researching the subject yourselves by accessing this publication.
0.0 EXECUTIVE SUMMARY
Almost a quarter of insurable enterprises are classifiable as IT, management or financial consultants
The UK is the one country in which the market actually declined between 2006 and 2010
Aon and Marsh are the leading brokers of affinity schemes but their overall share of deals is low
This fragmented and heterogeneous market is forecast to reach a value of EUR 7 billion by 2014
1.0 INTRODUCTION
What is this report about?
Finaccord’s study breaks down individual country markets into ten professional categories
Rationale
The report is the first analysis of this EUR 5.81 billion sector ever published...
... with affinity schemes researched in detail through the associated PartnerBASE™ dataset
Methodology
Association survey
Market data
Definitions
Professional indemnity insurance
Professional categories
Operating models
Other notes
2.0 EUROPEAN OVERVIEW
Introduction
Number of insurable enterprises
Across the ten countries, there are over six million potentially insurable enterprises...
... within which IT, management and financial consultants constitute the largest sector
Since 2006, the number of insurable enterprises has increased most rapidly in Poland
The architecture and engineering sector has experienced the weakest growth
Market size
Professional indemnity insurance was worth around EUR 5.81 billion across the ten countries in 2010
... with over 80% of this market value attributable to four professional sectors
In eight sectors the market has grown since 2006 while in two it has declined
As a ratio of total general liability insurance, professional indemnity cover is most significant in the UK
Affinity schemes
Programs for professional indemnity cover are most in evidence in the UK, Germany and Italy
... and reach similar rates of provision among associations in most professional categories
Captive brokers are in evidence in Belgium, Germany, Italy, Sweden and the UK
In most countries, competition among brokers to run affinity insurance schemes is fragmented
Aon and Marsh are the most prominent scheme brokers although their overall share of relationships is low
From the point of view of underwriters, Sweden is Europe’s most concentrated schemes market
Market forecast
The value of professional indemnity insurance is expected to grow in all countries up to 2014
Rising medical claims will drive premiums in the field of medicine, dentistry and other healthcare activities
Sector summaries
Accountancy and finance
Architecture and engineering
Broadcasting and publishing
Complementary medicine Estate agency and property
IT, management and financial consulting
Legal services
Marketing
Medicine, dentistry and other healthcare activities
Other professional sectors
2.0 BELGIUM
Introduction
Number of insurable enterprises
One third of insurable enterprises come from the IT, management and financial consulting sector...
... which was also the fastest-growing sector between 2006 and 2010
Market size
Professional indemnity insurance is usually compulsory for the traditional liberal professions
In terms of value, although not volume, claims have been rising for architects and engineers
‘No-fault’ medical compensation has been agreed in principle, but is not yet in operation
Professional indemnity insurance is a minor component of total general liability insurance
Affinity schemes
Over a third of professional associations have an affinity partnership for professional indemnity insurance
...rising to a half or more for legal and medical associations
Partnerships are spread across ten brokers, headed by Concordia, Protectas and Marsh...
...followed by Aon and Willemot
Ethias has three affinity programs with legal associations...
... while ING works with two dentists’ associations
Other key insurance providers and distribution channels
Gras Savoye is also active as a broker for medical professions and architects
Local brokers are the favoured channel for self-employed professionals
Market forecast
Premium growth is expected to come from a rise in the number of enterprises and of prices in key sectors
4.0 FRANCE
Introduction
Number of insurable enterprises
The traditional healthcare sector accounts for more than a third of all insurable enterprises...
... whilst the strongest growth is occurring in IT, management and financial consulting
Market size
Cover is obligatory across many liberal professions, and this often applies to low-risk activities
Medicine, dentistry and other healthcare activities constitute the largest market segment
Premiums generated by the architecture and engineering sector have changed little in recent years
In France, this type of cover is a comparatively small component within total general liability insurance
Affinity schemes
Professional indemnity cover is available from more than a third of professional associations…
…although the characteristics of these schemes vary substantially by professional sector
Mutual insurers are highly active in at least one key business area…
…and brokers play a particularly significant role within the architecture and engineering category
For brokers, the affinity scheme market for this type of insurance is relatively concentrated…
…and one leading insurer accounts for nearly a third of all underwriter partnerships identified
Other key insurance providers and distribution channels
Affinity schemes dominate the distribution of this insurance among some traditional professions…
…but policies are available directly from a number of both generic and sector-specific providers
Market forecast
Increased sector-specific activity and a rise in voluntary uptake will both have positive effects
5.0 GERMANY
Introduction
Number of insurable enterprises
The number of enterprises eligible for professional indemnity insurance now exceeds one million...
... in spite of a contraction in the architecture and engineering segment since 2006
Market size
Insurance is compulsory for several professions and strictly enforced for lawyers and tax advisors
Rising premiums in the market for doctors’ and hospital liability cover were driven by a variety of factors
A market exists for supplementary professional indemnity insurance bought by doctors
Premiums and claims in the architecture and engineering category have experienced great volatility...
...whereas consultants have become a key growth market for professional indemnity cover
Since 2006, professional indemnity cover has risen as a proportion of the total general liability market
Affinity schemes
More than half of the national associations surveyed were making professional indemnity cover available
UNITA and Funk Gruppe stand out in terms of their number of partnerships with professional bodies
A number of specialist brokers have established themselves as partners of relevant associations
In terms of its number of scheme relationships, HDI Gerling is the leading underwriter
DBV Winterthur and Deutsche Ärzteversicherung merged to form a dominant player in the doctors’ market
Allianz is a major competitor but possesses relatively few partnerships with professional bodies
Affinity programs organised at a regional or local level are significant in several professional sectors
Other key insurance providers and distribution channels
Aside from affinity schemes, several other brokers and underwriters are prominent in the market...
... and many banks distribute professional indemnity policies through their usual bancassurance partners
Market forecast
The market for professional indemnity insurance will experience healthy growth in some segments...
... although seems destined to stagnate in others, such as accountancy and finance
6.0 ITALY
Introduction
Number of insurable enterprises
Architects and engineers add up to the biggest professional category in Italy
Enterprises in all professional sectors grew in number between 2006 and 2010
Market size
Most professionals are currently under no obligation to take out professional indemnity cover
Soaring claims and premiums have characterised the market for doctors’ and hospitals’ liability cover...
...while architects and engineers tend to face lower risks than in other European countries
Take-up rates are boosted by packaging professional indemnity cover with other forms of insurance
Professional indemnity insurance is a growing segment within the general market for liability cover
Affinity schemes
Close to a half of professional bodies offer a nationwide scheme for professional indemnity cover
AEC Master Broker has struck partnerships with a large number of associations at the national level
Marsh is also prominent in the market for affinity schemes for professional indemnity insurance...
... although a significant number of brokers are limited to just one program
Underwriters at Lloyd’s of London are used as insurers by several professional associations
Schemes run at a regional or local level are especially important within the ‘protected’ professions
Other key insurance providers and distribution channels
CNA Europe offers professional indemnity insurance for most professions in Italy
Inarcassa is a distribution channel of some importance in the architecture and engineering category
Market forecast
Professional indemnity insurance is likely to become compulsory for a wider range of professions
7.0 NETHERLANDS
Introduction
Number of insurable enterprises
IT, management and financial consultancies form the biggest professional sector in the Netherlands...
... although the number of legal services enterprises has been growing most rapidly
Market size
Professional indemnity insurance is compulsory for several key professions Several factors cause claims for medical liability to remain at relatively modest levels
Liability for Dutch architects is often capped, reducing the need for cover and the size of the market
High underwriting capacity limits growth in the market for accountants and non-IT consultants...
... although the prospects for professional indemnity cover for IT consultancies appear better
Professional indemnity insurance has outpaced the general liability market
Affinity schemes
A substantial minority of professional associations offer professional indemnity cover to their members
As broker, Aon is dominant in the market for professional indemnity insurance schemes...
...with competition among underwriters somewhat more fragmented
Other key insurance providers and distribution channels
Dutch regulators have made strong interventions in the distribution of professional indemnity insurance
Market forecast
The Dutch market will continue to be driven by increases in the number of newly insured companies
8.0 POLAND
Introduction
Number of insurable enterprises
The IT, management and financial consulting sector is the largest by number in Poland
Enterprises in all professional sectors grew in number between 2006 and 2010
Market size
Architecture and engineering is likely to deliver the highest value in terms of gross written premiums
For some professions, the scope of cover is defined by law which can be problematic for underwriters
Professional indemnity cover has risen as a percentage of the total market for general liability insurance
Affinity schemes
Fewer than one in five professional associations have set up an affinity program...
... and among those that do, relatively few use a broker
INTER Polska holds relationships with four major associations from the healthcare sector
Other key insurance providers and distribution channels
There is relatively little online marketing of professional indemnity insurance in Poland
Market forecast
Gross written premiums are forecast to grow at an annual average of 10.8% between 2010 and 2014
A trend for rising claims may bring about increasing rates in certain professional categories
9.0 SPAIN
Introduction
Number of insurable enterprises
Enterprises in the architecture and engineering sector are most numerous
In spite of the weakness of the Spanish economy, certain professional sectors have continued to grow
Market size
One sector accounts for almost 40% of the total market value
Professional indemnity insurance has been characterised by increasing competition in recent years...
... and several legislative developments have also had an impact on the market
As a percentage of total general liability insurance, professional indemnity cover has increased
Affinity schemes
Professional colleges constitute the principal distribution channel for this form of insurance in Spain
As broker, Adartia Global holds the most nationwide deals for professional indemnity insurance schemes...
... with the remaining initiatives spread thinly among a variety of generalist and specialist intermediaries
Four underwriters are used for two or more national affinity programs for professional indemnity cover
However, many insurance schemes are organised through regional or local professional bodies
Other key insurance providers and distribution channels
Several other brokers and underwriters also possess visible expertise in professional indemnity cover
Direct sales, including online sales, are becoming more important for certain professions
Market forecast
The market value is forecast to increase in all professional sectors other than one
10.0 SWEDEN
Introduction
Number of insurable enterprises
The IT, management and financial consulting sector accounts for nearly one third of all enterprises
There was only moderate growth in the number of enterprises between 2006 and 2010
Market size
The Swedish market for professional indemnity insurance is highly developed but relatively low in value
Increased competition has put average premiums under pressure in a number of segments
The Swedish market for medical liability cover follows a different dynamic from the rest of Europe 0
Professional indemnity insurance accounts for a relatively low proportion of the general liability market
Affinity schemes
Professional bodies are an important distribution channel for this type of insurance in Sweden
Eight different brokers have established affinity programs with professional bodies
Six insurers are used as underwriters for affinity programs for professional indemnity cover
Other key insurance providers and distribution channels
Several significant providers have no visible involvement in scheme business
Market forecast
Despite its maturity the Swedish market can expect accelerated growth in the years leading up to 2014
11.0 SWITZERLAND
Introduction
Number of insurable enterprises
The IT, management and financial consulting category is the largest professional sector in Switzerland
Enterprises in all professional sectors grew in number between 2006
Market size
Professional indemnity insurance is currently not compulsory for most professions in Switzerland
The market has benefited from a higher number of insured enterprises in recent years
Swiss doctors and hospitals have experienced steeply rising premiums over the last decade...
...while for some other professions premiums are relatively high due to the large amounts insured
Professional indemnity cover accounts for a small but growing proportion of the general liability market
Affinity schemes
Over a third of professional bodies in Switzerland run an affinity scheme on a national basis
Several professional organisations work with comparatively small brokers
AXA Winterthur and Zurich hold the highest number of partnerships with professional bodies
Other key insurance providers and distribution channels
Several other brokers also possess visible expertise in professional indemnity cover...
Market forecast
Premium income is likely to record high growth among IT, management and financial consultants
12.0 UNITED KINGDOM
Introduction
Number of insurable enterprises
More than 40% of insurable enterprises come from the IT, management and financial consulting sector
Complementary medicine rises while estate agency and property declines
Market size
The UK hosts the largest professional indemnity insurance market in Europe by overall value
Medical liability insurance is often provided by mutuals on a discretionary basis
The end of the assigned risks pool and the closure of SIMIA are changing the face of insurance for solicitors
The property crash has reduced premiums paid in the architecture and engineering category
Fears about litigation against IFAs in the wake of the credit crisis have not been realised
Professional indemnity insurance has fallen as a share of total general liability, 2006 to 2010
Affinity schemes
Well over 50% of professional associations have an affinity partnership for professional indemnity insurance
Trafalgar Risk Management has the most affinity deals, specialising in accountancy and finance...
... with Towergate Professional Risks also prominent in this market
Other scheme brokers include Giles Insurance Brokers, which specialises in estate agency and property...
Heath Lambert, which concentrates on architects and engineers...
...and PIMS-SCA which works with marketing associations
40 brokers are limited to one or two schemes only with professional associations
There are 19 identified underwriters for professional indemnity insurance affinity partnerships...
... including five run by the professions themselves
Other key insurance providers and distribution channels
Brokers are the key channel in the UK, with limited direct distribution
The global brokers offer professional indemnity insurance for small clients as well as large ones
Professional indemnity insurance policies can be bought online in the UK...
... although recent litigation may limit brokers’ appetite to accept online applications without extra checks
Market forecast
Premiums in property-related sectors are expected to rise by 2014, though remaining below their 2006 level
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY
Number of insurable enterprises in Europe, segmented by country, 2010
Approximate gross written premiums for professional indemnity insurance in Europe, segmented by professional sector, 2006 and 2010
Share of partnerships of top five brokers for affinity schemes for professional indemnity insurance segmented by country, 2011
1.0 INTRODUCTION
Professional associations contacted by Finaccord, segmented by country, professional category and membership type
2.0 EUROPEAN OVERVIEW
Number of insurable enterprises in Europe, segmented by country, 2010
Number of insurable enterprises in Europe, segmented by professional sector, 2010
Average annual growth or decline in number of insurable enterprises in Europe, segmented by country, 2006-2010
Number of insurable enterprises in Europe, segmented by country, 2006 and 2010 (data)
Average annual growth or decline in number of insurable enterprises in Europe, segmented by professional sector, 2006-2010
Number of insurable enterprises in Europe, segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for professional indemnity insurance in Europe, segmented by country, 2006 and 2010
Approximate gross written premiums for professional indemnity insurance in Europe, segmented by country, 2006 and 2010 (data)
Approximate gross written premiums for professional indemnity insurance in Europe, segmented by professional sector, 2006 and 2010
Approximate gross written premiums for professional indemnity insurance in Europe, segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for professional indemnity insurance as a percentage of gross written premiums for total general liability insurance in Europe, segmented by country, 2006 and 2010
Approximate gross written premiums for professional indemnity insurance as a percentage of gross written premiums for total general liability insurance in Europe, segmented by country, 2006 and 2010 (data)
Provision rates for affinity schemes for professional indemnity insurance segmented by country, 2011
Provision rates for affinity schemes for professional indemnity insurance segmented by professional category, 2011
Operating models used for affinity schemes for professional indemnity insurance segmented by country, 2011
Operating models used for affinity schemes for professional indemnity insurance segmented by country, 2011 (data)
Share of partnerships of top five brokers for affinity schemes for professional indemnity insurance segmented by country, 2011
Share of partnerships of top five brokers for affinity schemes for professional indemnity insurance segmented by country, 2011 (data)
Overview of share of partnerships of Aon and Marsh for affinity schemes for professional indemnity insurance, 2011 (data)
Share of partnerships of top five underwriters for affinity schemes for professional indemnity insurance segmented by country, 2011
Share of partnerships of top five underwriters for affinity schemes for professional indemnity insurance segmented by country, 2011 (data) Forecast for gross written premiums for professional indemnity insurance in Europe, segmented by country, 2010 and 2014
Forecast for gross written premiums for professional indemnity insurance in Europe, segmented by country, 2010 and 2014 (data)
Forecast for gross written premiums for professional indemnity insurance in Europe, segmented by professional sector, 2010 and 2014
Forecast for gross written premiums for professional indemnity insurance in Europe, segmented by professional sector, 2010 and 2014 (data)
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the accountancy and finance sector in Europe, segmented by country, 2006, 2010 and 2014
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the accountancy and finance sector in Europe, segmented by country, 2006, 2010 and 2014 (data)
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the architecture and engineering sector in Europe, segmented by country, 2006, 2010 and 2014
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the architecture and engineering sector in Europe, segmented by country, 2006, 2010 and 2014 (data)
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the broadcasting and publishing sector in Europe, segmented by country, 2006, 2010 and 2014
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the broadcasting and publishing sector in Europe, segmented by country, 2006, 2010 and 2014 (data)
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the complementary medicine sector in Europe, segmented by country, 2006, 2010 and 2014
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the complementary medicine sector in Europe, segmented by country, 2006, 2010 and 2014 (data)
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the estate agency and property sector in Europe, segmented by country, 2006, 2010 and 2014
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the estate agency and property sector in Europe, segmented by country, 2006, 2010 and 2014 (data)
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the IT, management and financial consulting sector in Europe, segmented by country, 2006, 2010 and 2014
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the IT, management and financial consulting sector in Europe, segmented by country, 2006, 2010 and 2014 (data)
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the legal services sector in Europe, segmented by country, 2006, 2010 and 2014
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the legal services sector in Europe, segmented by country, 2006, 2010 and 2014 (data)
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the marketing sector in Europe, segmented by country, 2006, 2010 and 2014
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the marketing sector in Europe, segmented by country, 2006, 2010 and 2014 (data)
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the medicine, dentistry and other healthcare activities sector in Europe, segmented by country, 2006, 2010 and 2014
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in the medicine, dentistry and other healthcare activities sector in Europe, segmented by country, 2006, 2010 and 2014 (data)
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in other professional sectors in Europe, segmented by country, 2006, 2010 and 2014
Approximate and forecast gross written premiums for professional indemnity insurance acquired by enterprises in other professional sectors in Europe, segmented by country, 2006, 2010 and 2014 (data)
2.0 BELGIUM
Number of insurable enterprises in Belgium, segmented by professional sector, 2010
Average annual growth or decline in number of insurable enterprises in Belgium, segmented by professional sector, 2006-2010
Number of insurable enterprises in Belgium, segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for professional indemnity insurance in Belgium, segmented by professional sector, 2006 and 2010
Approximate gross written premiums for professional indemnity insurance in Belgium, segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in Belgium, 2006 and 2010
Affinity schemes for professional indemnity insurance in Belgium: provision rate and operating models, 2011
Affinity schemes for professional indemnity insurance in Belgium: broker and underwriter share of partnerships, 2011
Forecast for gross written premiums for professional indemnity insurance in Belgium, segmented by professional sector, 2010 and 2014
Forecast for gross written premiums for professional indemnity insurance in Belgium, segmented by professional sector, 2010 and 2014 (data)
4.0 FRANCE
Number of insurable enterprises in France, segmented by professional sector, 2010
Average annual growth or decline in number of insurable enterprises in France, segmented by professional sector, 2006-2010
Number of insurable enterprises in France, segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for professional indemnity insurance in France, segmented by professional sector, 2006 and 2010
Approximate gross written premiums for professional indemnity insurance in France, segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in France, 2006 and 2010
Affinity schemes for professional indemnity insurance in France: provision rate and operating models, 2011
Affinity schemes for professional indemnity insurance in France: broker and underwriter share of partnerships, 2011
Forecast for gross written premiums for professional indemnity insurance in France, segmented by professional sector, 2010 and 2014
Forecast for gross written premiums for professional indemnity insurance in France, segmented by professional sector, 2010 and 2014 (data)
5.0 GERMANY
Number of insurable enterprises in Germany, segmented by professional sector 2010
Average annual growth or decline in number of insurable enterprises in Germany, segmented by professional sector, 2006-2010
Number of insurable enterprises in Germany, segmented by professional sector, 2006-2010 (data)
Gross written premiums for professional indemnity insurance in Germany segmented by professional sector, 2006 and 2010
Gross written premiums for professional indemnity insurance in Germany segmented by professional sector, 2006 and 2010 (data) Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in Germany, 2006 and 2010
Affinity schemes for professional indemnity insurance in Germany: provision rates and operating models, 2011
Affinity schemes for professional indemnity insurance in Germany: broker and underwriter share of partnerships, 2011
Forecast for gross written premiums for professional indemnity insurance in Germany segmented by professional sector, 2010 and 2014
Forecast for gross written premiums for professional indemnity insurance in Germany, segmented by professional sector, 2010 and 2014 (data)
6.0 ITALY
Number and segmentation of insurable enterprises in Italy, 2006-2010
Average annual growth or decline in number of insurable enterprises in Italy, segmented by professional sector, 2006-2010
Number of insurable enterprises in Italy, segmented by professional sector, 2006-2010 (data)
Gross written premiums for professional indemnity insurance in Italy segmented by professional sector, 2006 and 2010
Gross written premiums for professional indemnity insurance in Italy segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in Italy, 2006 and 2010
Affinity schemes for professional indemnity insurance in Italy: provision rates and operating models, 2011
Affinity schemes for professional indemnity insurance in Italy: broker and underwriter share of partnerships, 2011
Forecast for gross written premiums for professional indemnity insurance in Italy segmented by professional sector, 2010 and 2014
Forecast for gross written premiums for professional indemnity insurance in Italy, segmented by professional sector, 2010 and 2014 (data)
7.0 NETHERLANDS
Number and segmentation of insurable enterprises in Netherlands, 2006-2010
Average annual growth or decline in number of insurable enterprises in the Netherlands, segmented by professional sector, 2006-2010
Number of insurable enterprises in the Netherlands, segmented by professional sector, 2006-2010 (data)
Gross written premiums for professional indemnity insurance in Netherlands segmented by professional sector, 2006 and 2010
Gross written premiums for professional indemnity insurance in Netherlands segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in Netherlands, 2006 and 2010
Affinity schemes for professional indemnity insurance in the Netherlands: provision rates and operating models, 2011
Affinity schemes for professional indemnity insurance in the Netherlands: broker and underwriter share of partnerships, 2011
Forecast for gross written premiums for professional indemnity insurance in Netherlands segmented by professional sector, 2010 and 2014
Forecast for gross written premiums for professional indemnity insurance in the Netherlands, segmented by professional sector, 2010 and 2014 (data)
8.0 POLAND
Number of insurable enterprises in Poland, segmented by professional sector 2010
Average annual growth or decline in number of insurable enterprises in Poland, segmented by professional sector, 2006-2010
Number of insurable enterprises in Poland, segmented by professional sector, 2006-2010 (data)
Approximate gross written premiums for professional indemnity insurance in Poland, segmented by professional sector, 2006 and 2010
Approximate gross written premiums for professional indemnity insurance in Poland, segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in Poland, 2006 and 2010
Affinity schemes for professional indemnity insurance in Poland: provision rates and operating models, 2011
Affinity schemes for professional indemnity insurance in Poland: broker and underwriter share of partnerships, 2011
Forecast for gross written premiums for professional indemnity insurance in Poland, segmented by professional sector, 2010 and 2014
Forecast for gross written premiums for professional indemnity insurance in Poland, segmented by professional sector, 2010 and 2014 (data)
9.0 SPAIN
Number of insurable enterprises in Spain, segmented by professional sector, 2010
Average annual growth or decline in number of insurable enterprises in Spain, segmented by professional sector, 2006-2010
Number of insurable enterprises in Spain, segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for professional indemnity insurance in Spain, segmented by professional sector, 2006 and 2010
Approximate gross written premiums for professional indemnity insurance in Spain, segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in Spain, 2006 and 2010
Affinity schemes for professional indemnity insurance in Spain: provision rate and operating models, 2011
Affinity schemes for professional indemnity insurance in Spain: broker and underwriter share of partnerships, 2011
Forecast for gross written premiums for professional indemnity insurance in Spain, segmented by professional sector, 2010 and 2014
Forecast for gross written premiums for professional indemnity insurance in Spain, segmented by professional sector, 2010 and 2014 (data)
10.0 SWEDEN
Number of insurable enterprises in Sweden, segmented by professional sector, 2010
Average annual growth or decline in number of insurable enterprises in Sweden, segmented by professional sector, 2006-2010
Average annual growth or decline in number of insurable enterprises in Sweden, segmented by professional sector, 2006-2010 (data)
Gross written premiums for professional indemnity insurance in Sweden segmented by professional sector, 2006 and 2010
Gross written premiums for professional indemnity insurance in Sweden segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in Sweden, 2006 and 2010
Affinity schemes for professional indemnity insurance in the Sweden: provision rates and operating models, 2011
Affinity schemes for professional indemnity insurance in Sweden: broker and underwriter share of partnerships, 2011
Forecast for gross written premiums for professional indemnity insurance in Sweden segmented by professional sector, 2010 and 2014
Forecast for gross written premiums for professional indemnity insurance in Sweden, segmented by professional sector, 2010 and 2014 (data)
11.0 SWITZERLAND
Number and segmentation of insurable enterprises in Switzerland, 2006-2010
Average annual growth or decline in number of insurable enterprises in Switzerland, segmented by professional sector, 2006-2010
Number and segmentation of insurable enterprises in Switzerland, 2006-2010 (data)
Gross written premiums for professional indemnity insurance in Switzerland segmented by professional sector, 2006 and 2010
Gross written premiums for professional indemnity insurance in Switzerland segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in Switzerland, 2006 and 2010
Affinity schemes for professional indemnity insurance in Switzerland: provision rates and operating models, 2011
Affinity schemes for professional indemnity insurance in Switzerland: broker and underwriter share of partnerships, 2011
Forecast for gross written premiums for professional indemnity insurance in Switzerland segmented by professional sector, 2010 and 2014
Forecast for gross written premiums for professional indemnity insurance in Switzerland, segmented by professional sector, 2010 and 2014 (data)
12.0 UNITED KINGDOM
Number of insurable enterprises in the UK, segmented by professional sector, 2010
Average annual growth or decline in number of insurable enterprises in the UK, segmented by professional sector, 2006-2010
Number of insurable enterprises in the UK, segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for professional indemnity insurance in the UK, segmented by professional sector, 2006 and 2010
Approximate gross written premiums for professional indemnity insurance in the UK, segmented by professional sector, 2006 and 2010 (data)
Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in the UK, 2006 and 2010
Affinity schemes for professional indemnity insurance in the UK: provision rate and operating models, 2011
Affinity schemes for professional indemnity insurance in the UK: broker and underwriter share of partnerships, 2011
Forecast for gross written premiums for professional indemnity insurance in the UK, segmented by professional sector, 2010 and 2014
Forecast for gross written premiums for professional indemnity insurance in the UK, segmented by professional sector, 2010 and 2014 (data)
The bulk of the research for this report was carried out during a ten-week period spanning March to May 2011 and was composed of a survey of professional associations and detailed market data modelling.
In total, Finaccord contacted 1,100 professional associations for this research, broken down by country, professional category and membership type. The objectives of this survey were to gather data about the number and type of members belonging to the association and the total number of individuals a/or enterprises eligible for membership, aswell as to identify any affinity schemes established by them for professional indemnity insurance.
The market data for this publication has been built up by means of a data model that takes into account the following datapoints for 2006, 2010 and 2014 for each country and professional category: the total number of insurable enterprises and their distribution by turnover band; an estimated take-up rate for professional indemnity insurance across these enterprises; and an estimated average premium payable per policy for professional indemnity insurance among insured enterprises.
Both of the latter datapoints were determined in part by any reliable published data about the market that already existed in the public domain and in interviews with leading providers of professional indemnity insurance that Finaccord carried out as part of its research.
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