Property, Casualty & Direct Insurance in New York - Industry Market Research Report

  • ID: 4578438
  • Report
  • Region: New York
  • 28 pages
  • IBISWorld
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Saving up: Rising premiums and higher interest rates will improve industry revenue prospects

Property, Casualty & Direct Insurance in New York

Over the past five years, the Property, Casualty and Direct Insurance industry's performance was hampered by a soft-pricing cycle, weak demand for title insurance and poor investment income. However, the stability of property and casualty (P&C) insurance, which is the industry's largest market segment, and its reliance on renewals rather than the generation of new business, tempered these negative trends. As a result, industry revenue is expected to increase modestly over the five years to 2016. In the coming years, technological changes, including systems upgrades and the increased use of cloud computing, will enable industry operators to decrease operational expenses and more effectively manage risk. In addition, rising premiums and higher interest rates expected will significantly improve the industry's revenue prospects.

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.

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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
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  • Berkshire Hathaway Inc.
  • Allstate Insurance Company
  • State Farm Mutual Automobile Insurance Company
  • New York State Insurance Fund
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