Professional Indemnity Insurance in Sweden

  • ID: 2125631
  • Report
  • Region: Sweden
  • Finaccord
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Professional Indemnity Insurance in Sweden is about the Swedish market for and distribution of policies covering professional liability.

For 2006, 2010 and with a forecast for 2014, the study breaks down the market for professional indemnity insurance on a standardised basis by professional group 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, it identifies affinity schemes for professional indemnity insurance in Sweden 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 Sweden 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 in Sweden;

- 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 professional category;

- to gain access to a single comprehensive source of information providing broker and / or underwriter details for affinity schemes set up by professional associations in Sweden for this form of insurance;

- to appreciate which professional categories offer the best long-term potential, which are already saturated with competitors, and what product or distribution innovations are occurring.
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0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

What is this report about?

Finaccord's study breaks down individual country markets into ten professional categories

Rationale

This is the first series of reports about this complex 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

Finaccord

2.0 MARKET ANALYSIS

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

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

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY

Number of insurable enterprises and value of professional indemnity insurance in Sweden, segmented by professional sector, 2010

1.0 INTRODUCTION

Professional associations contacted by Finaccord, segmented by professional category and membership type

2.0 MARKET ANALYSIS

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)
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