Latest Trend in UK Professional Indemnity Market 2018
ResearchMoz presents professional and in-depth study of "UK Professional Indemnity Market Review 2017".
Summary
"UK Professional Indemnity Market Review 2017", provides an in-depth analysis of the UK professional indemnity insurance market. It looks at market size as well as changes in premiums, claims, distribution, regulations, and future opportunities. It provides a thorough overview of the market along with a GWP forecast for the coming years.
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The soft market conditions that have characterized the UK professional indemnity insurance market in recent years may finally be coming to an end. The winds of change are starting to blow, with premium rate rises and a reduction in capacity widely anticipated in 2018.
Scope
- The UK professional indemnity market is estimated to have been worth 1.64bn in 2017.
- Much of the growth in underlying demand is occurring among non-traditional professions, and in particular among SMEs.
- Hiscox and AXA are the largest UK PII SME insurers.
Reasons to buy
- Benchmark yourself against the rest of the market.
- Ensure you remain competitive as new innovations and insurance models begin to enter the market.
- Adapt your distribution strategy to ensure it is efficient and still meets customer purchasing habits.
View Complete TOC with tables & Figures @ https://www.researchmoz.us/uk-professional-indemnity-market-review-2017-report.html/toc
Table of Contents
1. EXECUTIVE SUMMARY 2
1.1. Market summary 2
1.2. Key findings 2
1.3. Critical success factors 2
2. MARKET CONTEXT 8
2.1. Introduction 8
2.1.1. The PII market 8
2.2. The size of the PII market has remained stable 8
2.3. Underlying demand for PII remains saturated among traditional professions, with greater growth in miscellaneous occupations 10
2.3.1. Regulatory, financial, and competitive pressures have driven consolidation, leading to stagnant or declining business numbers in the legal and financial advice sectors 10
2.3.2. Consolidation has impacted demand in the small- and medium-sized accountancy sector, while the number of audit firms continues to decline 10
2.3.3. Growth in the number of architecture and engineering firms has outstripped other areas of traditional PII 11
2.3.4. Consolidation has put pressure on professional indemnity insurers, while sole traders have required a different approach 13
2.3.5. While growth in traditional PII policyholder numbers may be slowing, turnover has continued to rise, indicating greater risk exposure for professional indemnity insurers 14
2.3.6. Much of the growth in underlying demand is occurring among non-traditional professions and SMEs 15
2.3.7. Technology, management consultancy, and contractors are all areas of growth 16
2.3.8. PII is believed to be fairly saturated among larger risks, with most new business emerging among SMEs 17
2.4. Premium rates remained under significant pressure in 2017, but signs of a turnaround are on the cards 18
2.4.1. Strong competition has placed unsustainable pressure on premium rates in recent years 18
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2.4.2. There have been some indications that the market may be about to turn, with less willingness to reduce rates in 2017 18
2.4.3. Pockets of rate rises were in evidence in 2017 as a result of sector-specific dynamics 18
2.5. Profitability has reached unsustainable levels 19
2.5.1. The major factors causing a drag on profitability have been persistent rate reductions and an increase in claims frequency and severity 19
For More Information Kindly Contact:
ResearchMoz
Mr. Nachiket Ghumare,
90 State Street, Albany NY, United States - 12207
Tel: +1-518-621-2074
USA-Canada Toll Free: 866-997-4948
Email: sales@researchmoz.us
Follow us on LinkedIn @ http://bit.ly/1TBmnVG
Follow me on : https://marketinfo247.wordpress.com/
Summary
"UK Professional Indemnity Market Review 2017", provides an in-depth analysis of the UK professional indemnity insurance market. It looks at market size as well as changes in premiums, claims, distribution, regulations, and future opportunities. It provides a thorough overview of the market along with a GWP forecast for the coming years.
Get PDF for more Professional and Technical insights @ https://www.researchmoz.us/enquiry.php?type=S&repid=1476955
The soft market conditions that have characterized the UK professional indemnity insurance market in recent years may finally be coming to an end. The winds of change are starting to blow, with premium rate rises and a reduction in capacity widely anticipated in 2018.
Scope
- The UK professional indemnity market is estimated to have been worth 1.64bn in 2017.
- Much of the growth in underlying demand is occurring among non-traditional professions, and in particular among SMEs.
- Hiscox and AXA are the largest UK PII SME insurers.
Reasons to buy
- Benchmark yourself against the rest of the market.
- Ensure you remain competitive as new innovations and insurance models begin to enter the market.
- Adapt your distribution strategy to ensure it is efficient and still meets customer purchasing habits.
View Complete TOC with tables & Figures @ https://www.researchmoz.us/uk-professional-indemnity-market-review-2017-report.html/toc
Table of Contents
1. EXECUTIVE SUMMARY 2
1.1. Market summary 2
1.2. Key findings 2
1.3. Critical success factors 2
2. MARKET CONTEXT 8
2.1. Introduction 8
2.1.1. The PII market 8
2.2. The size of the PII market has remained stable 8
2.3. Underlying demand for PII remains saturated among traditional professions, with greater growth in miscellaneous occupations 10
2.3.1. Regulatory, financial, and competitive pressures have driven consolidation, leading to stagnant or declining business numbers in the legal and financial advice sectors 10
2.3.2. Consolidation has impacted demand in the small- and medium-sized accountancy sector, while the number of audit firms continues to decline 10
2.3.3. Growth in the number of architecture and engineering firms has outstripped other areas of traditional PII 11
2.3.4. Consolidation has put pressure on professional indemnity insurers, while sole traders have required a different approach 13
2.3.5. While growth in traditional PII policyholder numbers may be slowing, turnover has continued to rise, indicating greater risk exposure for professional indemnity insurers 14
2.3.6. Much of the growth in underlying demand is occurring among non-traditional professions and SMEs 15
2.3.7. Technology, management consultancy, and contractors are all areas of growth 16
2.3.8. PII is believed to be fairly saturated among larger risks, with most new business emerging among SMEs 17
2.4. Premium rates remained under significant pressure in 2017, but signs of a turnaround are on the cards 18
2.4.1. Strong competition has placed unsustainable pressure on premium rates in recent years 18
Make An Enquiry @ https://www.researchmoz.us/enquiry.php?type=E&repid=1476955
2.4.2. There have been some indications that the market may be about to turn, with less willingness to reduce rates in 2017 18
2.4.3. Pockets of rate rises were in evidence in 2017 as a result of sector-specific dynamics 18
2.5. Profitability has reached unsustainable levels 19
2.5.1. The major factors causing a drag on profitability have been persistent rate reductions and an increase in claims frequency and severity 19
For More Information Kindly Contact:
ResearchMoz
Mr. Nachiket Ghumare,
90 State Street, Albany NY, United States - 12207
Tel: +1-518-621-2074
USA-Canada Toll Free: 866-997-4948
Email: sales@researchmoz.us
Follow us on LinkedIn @ http://bit.ly/1TBmnVG
Follow me on : https://marketinfo247.wordpress.com/
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