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Contractors' Insurance in the US - Industry Research Report

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    Report

  • 20 Pages
  • January 2024
  • Region: United States
  • IBISWorld
  • ID: 5751269
Description Jump to:

Under cover: As construction picks up, jobs for contractors will rise, requiring more industry insurance

This industry includes companies that underwrite workplace risks for contractors in the construction sector. These companies generally cover the insured in the case of a loss stemming from contractor or subcontractor negligence on the job. This report excludes a discussion of construction bonding such as surety bonds.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Table of Contents

ABOUT THIS INDUSTRY
  • Industry Definition
  • Main Activities
  • Similar Industries
  • Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
  • Executive Summary
  • Key External Drivers
  • Current Performance
  • Industry Outlook
  • Industry Life Cycle
PRODUCTS & MARKETS
  • Supply Chain
  • Products & Services
  • Demand Determinants
  • Major Markets
  • International Trade
  • Business Locations
COMPETITIVE LANDSCAPE
  • Market Share Concentration
  • Key Success Factors
  • Cost Structure Benchmarks
  • Basis of Competition
  • Barriers to Entry
  • Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
  • Capital Intensity
  • Technology & Systems
  • Revenue Volatility
  • Regulation & Policy
  • Industry Assistance
KEY STATISTICS
  • Industry Data
  • Annual Change
  • Key Ratios
JARGON & GLOSSARY

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Liberty Mutual Insurance Group Inc.

Methodology

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About the Contractors Insurance Market

The Contractors Insurance market is a subset of the larger insurance industry. It provides coverage for contractors and subcontractors who are working on construction projects. This type of insurance is designed to protect contractors from financial losses due to accidents, property damage, and other liabilities that may arise from their work. It also covers the cost of any legal fees that may be incurred in the event of a dispute. Contractors Insurance is typically purchased by the contractor or subcontractor, but can also be purchased by the property owner or general contractor. It is important to note that the coverage provided by this type of insurance is different from that of general liability insurance, which is designed to protect the property owner from any claims made against them. Some of the companies in the Contractors Insurance market include Liberty Mutual, Allstate, State Farm, Travelers, and Chubb. Show Less Read more

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