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Property, Casualty and Direct Insurance in the US - Industry Market Research Report

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    Report

  • 46 Pages
  • August 2021
  • Region: United States
  • IBISWorld
  • ID: 239636

Rest Insured: Rising Disposable Incomes Have Driven Demand for Purchases That Require Insurance

Property, Casualty and Direct Insurance in the US


Industry operators in the Property, Casualty and Direct Insurance industry support US consumers and businesses by providing protection against damage caused by a variety of events, such as car accidents, catastrophe and medical malpractice. General insurers derive income from insurance premiums and by investing in bonds, stocks and other assets. Most property and casualty premiums are obtained through the renewal of policies that relate to existing risks. Changes in risk exposure and pricing conditions affect remaining premiums. Industry revenue has benefited from a hardening price cycle within the industry over the five years to 2019. Numerous catastrophic events that occurred just prior to the period led to poor profit margins, pushing the industry into a hard-pricing cycle to try to improve margins and rebuild balance sheets during the five-year period. Industry revenue is forecast to increase over the five years to 2024. Technological changes, including system upgrades and the increased use of cloud computing, will enable industry operators to decrease operational expenses and more effectively manage risk.

Operators in this industry are primarily engaged in underwriting insurance policies that protect individuals, businesses and agencies against losses that occur as a result of property damage, liability or other risks. Industry participants also protect real estate owners or creditors against losses sustained as a result of any title defect to real property. This industry does not include insurance coverage for life, disability, accidental death, dismemberment or health risks.

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

A selection of companies mentioned in this report includes:

  • Allstate Corporation
  • Liberty Mutual Insurance Group Inc.
  • State Farm Mutual Automobile Insurance Company
  • Berkshire Hathaway Inc.

Methodology

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