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Synopsis
This report studies the Professional Liability Insurance market. Professional liability insurance (PLI), also called professional indemnity insurance (PII) or errors & omissions (E&O), is a form of liability insurance which helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit.
The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm. Professional liability insurance may take on different forms and names depending on the profession, especially medical and legal, and is sometimes required under contract by other businesses that are the beneficiaries of the advice or service.
The global Professional Liability Insurance market was valued at US$ 43480 million in 2023 and is anticipated to reach US$ 55100 million by 2030, witnessing a CAGR of 3.4% during the forecast period 2024-2030.
Global Professional Liability Insurance key players include Chubb, AIG, AXA, Hiscox, Allianz, etc. Global top five manufacturers hold a share over 25%.
North America is the largest market, with a share about 60%, followed by Europe and Asia-Pacific, both have a share about 35 percent.
In terms of product, Medical Liability is the largest segment, with a share about 30%. And in terms of application, the largest application is Up to $1 Million, followed by $1 Million to $5 Million.
This report aims to provide a comprehensive presentation of the global market for Professional Liability Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Professional Liability Insurance.
Report Scope
The Professional Liability Insurance market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Professional Liability Insurance market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Professional Liability Insurance companies, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
- Chubb (ACE)
- AIG
- Hiscox
- Allianz
- Tokio Marine Holdings
- XL Group
- AXA
- Travelers
- Assicurazioni Generali
- Doctors Company
- Marsh & McLennan
- Liberty Mutual
- Medical Protective
- Aviva
- Zurich
- Sompo Japan Nipponkoa
- Munich Re
- Aon
- Beazley
- Mapfre
Segment by Type
- Medical Liability
- Lawyer Liability
- CPA Liability
- Construction & Engineering Liability
- Other Liability
Segment by Application
- Up to $1 Million
- $1 Million to $5 Million
- $5 Million to $20 Million
- Over $20 Million
By Region
- North America (United States, Canada)
- Europe (Germany, France, U.K., Italy, Netherlands)
- Asia-Pacific (China, Japan, South Korea, China Taiwan, Southeast Asia, India)
- Latin America, Middle East & Africa (Latin America, Mexico, Brazil, Turkey)
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Professional Liability Insurance companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
Index
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Professional Liability Insurance Market Size Growth Rate by Type: 2019 VS 2023 VS 2030
1.2.2 Medical Liability
1.2.3 Lawyer Liability
1.2.4 CPA Liability
1.2.5 Construction & Engineering Liability
1.2.6 Other Liability
1.3 Market by Application
1.3.1 Global Professional Liability Insurance Market Growth by Application: 2019 VS 2023 VS 2030
1.3.2 Up to $1 Million
1.3.3 $1 Million to $5 Million
1.3.4 $5 Million to $20 Million
1.3.5 Over $20 Million
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global Professional Liability Insurance Market Perspective (2019-2030)
2.2 Professional Liability Insurance Growth Trends by Region
2.2.1 Global Professional Liability Insurance Market Size by Region: 2019 VS 2023 VS 2030
2.2.2 Professional Liability Insurance Historic Market Size by Region (2019-2024)
2.2.3 Professional Liability Insurance Forecasted Market Size by Region (2025-2030)
2.3 Professional Liability Insurance Market Dynamics
2.3.1 Professional Liability Insurance Industry Trends
2.3.2 Professional Liability Insurance Market Drivers
2.3.3 Professional Liability Insurance Market Challenges
2.3.4 Professional Liability Insurance Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Professional Liability Insurance Players by Revenue
3.1.1 Global Top Professional Liability Insurance Players by Revenue (2019-2024)
3.1.2 Global Professional Liability Insurance Revenue Market Share by Players (2019-2024)
3.2 Global Professional Liability Insurance Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by Professional Liability Insurance Revenue
3.4 Global Professional Liability Insurance Market Concentration Ratio
3.4.1 Global Professional Liability Insurance Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Professional Liability Insurance Revenue in 2023
3.5 Professional Liability Insurance Key Players Head office and Area Served
3.6 Key Players Professional Liability Insurance Product Solution and Service
3.7 Date of Enter into Professional Liability Insurance Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Professional Liability Insurance Breakdown Data by Type
4.1 Global Professional Liability Insurance Historic Market Size by Type (2019-2024)
4.2 Global Professional Liability Insurance Forecasted Market Size by Type (2025-2030)
5 Professional Liability Insurance Breakdown Data by Application
5.1 Global Professional Liability Insurance Historic Market Size by Application (2019-2024)
5.2 Global Professional Liability Insurance Forecasted Market Size by Application (2025-2030)
6 North America
6.1 North America Professional Liability Insurance Market Size (2019-2030)
6.2 North America Professional Liability Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
6.3 North America Professional Liability Insurance Market Size by Country (2019-2024)
6.4 North America Professional Liability Insurance Market Size by Country (2025-2030)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Professional Liability Insurance Market Size (2019-2030)
7.2 Europe Professional Liability Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
7.3 Europe Professional Liability Insurance Market Size by Country (2019-2024)
7.4 Europe Professional Liability Insurance Market Size by Country (2025-2030)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Professional Liability Insurance Market Size (2019-2030)
8.2 Asia-Pacific Professional Liability Insurance Market Growth Rate by Region: 2019 VS 2023 VS 2030
8.3 Asia-Pacific Professional Liability Insurance Market Size by Region (2019-2024)
8.4 Asia-Pacific Professional Liability Insurance Market Size by Region (2025-2030)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Professional Liability Insurance Market Size (2019-2030)
9.2 Latin America Professional Liability Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
9.3 Latin America Professional Liability Insurance Market Size by Country (2019-2024)
9.4 Latin America Professional Liability Insurance Market Size by Country (2025-2030)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Professional Liability Insurance Market Size (2019-2030)
10.2 Middle East & Africa Professional Liability Insurance Market Growth Rate by Country: 2019 VS 2023 VS 2030
10.3 Middle East & Africa Professional Liability Insurance Market Size by Country (2019-2024)
10.4 Middle East & Africa Professional Liability Insurance Market Size by Country (2025-2030)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 Chubb (ACE)
11.1.1 Chubb (ACE) Company Detail
11.1.2 Chubb (ACE) Business Overview
11.1.3 Chubb (ACE) Professional Liability Insurance Introduction
11.1.4 Chubb (ACE) Revenue in Professional Liability Insurance Business (2019-2024)
11.1.5 Chubb (ACE) Recent Development
11.2 AIG
11.2.1 AIG Company Detail
11.2.2 AIG Business Overview
11.2.3 AIG Professional Liability Insurance Introduction
11.2.4 AIG Revenue in Professional Liability Insurance Business (2019-2024)
11.2.5 AIG Recent Development
11.3 Hiscox
11.3.1 Hiscox Company Detail
11.3.2 Hiscox Business Overview
11.3.3 Hiscox Professional Liability Insurance Introduction
11.3.4 Hiscox Revenue in Professional Liability Insurance Business (2019-2024)
11.3.5 Hiscox Recent Development
11.4 Allianz
11.4.1 Allianz Company Detail
11.4.2 Allianz Business Overview
11.4.3 Allianz Professional Liability Insurance Introduction
11.4.4 Allianz Revenue in Professional Liability Insurance Business (2019-2024)
11.4.5 Allianz Recent Development
11.5 Tokio Marine Holdings
11.5.1 Tokio Marine Holdings Company Detail
11.5.2 Tokio Marine Holdings Business Overview
11.5.3 Tokio Marine Holdings Professional Liability Insurance Introduction
11.5.4 Tokio Marine Holdings Revenue in Professional Liability Insurance Business (2019-2024)
11.5.5 Tokio Marine Holdings Recent Development
11.6 XL Group
11.6.1 XL Group Company Detail
11.6.2 XL Group Business Overview
11.6.3 XL Group Professional Liability Insurance Introduction
11.6.4 XL Group Revenue in Professional Liability Insurance Business (2019-2024)
11.6.5 XL Group Recent Development
11.7 AXA
11.7.1 AXA Company Detail
11.7.2 AXA Business Overview
11.7.3 AXA Professional Liability Insurance Introduction
11.7.4 AXA Revenue in Professional Liability Insurance Business (2019-2024)
11.7.5 AXA Recent Development
11.8 Travelers
11.8.1 Travelers Company Detail
11.8.2 Travelers Business Overview
11.8.3 Travelers Professional Liability Insurance Introduction
11.8.4 Travelers Revenue in Professional Liability Insurance Business (2019-2024)
11.8.5 Travelers Recent Development
11.9 Assicurazioni Generali
11.9.1 Assicurazioni Generali Company Detail
11.9.2 Assicurazioni Generali Business Overview
11.9.3 Assicurazioni Generali Professional Liability Insurance Introduction
11.9.4 Assicurazioni Generali Revenue in Professional Liability Insurance Business (2019-2024)
11.9.5 Assicurazioni Generali Recent Development
11.10 Doctors Company
11.10.1 Doctors Company Company Detail
11.10.2 Doctors Company Business Overview
11.10.3 Doctors Company Professional Liability Insurance Introduction
11.10.4 Doctors Company Revenue in Professional Liability Insurance Business (2019-2024)
11.10.5 Doctors Company Recent Development
11.11 Marsh & McLennan
11.11.1 Marsh & McLennan Company Detail
11.11.2 Marsh & McLennan Business Overview
11.11.3 Marsh & McLennan Professional Liability Insurance Introduction
11.11.4 Marsh & McLennan Revenue in Professional Liability Insurance Business (2019-2024)
11.11.5 Marsh & McLennan Recent Development
11.12 Liberty Mutual
11.12.1 Liberty Mutual Company Detail
11.12.2 Liberty Mutual Business Overview
11.12.3 Liberty Mutual Professional Liability Insurance Introduction
11.12.4 Liberty Mutual Revenue in Professional Liability Insurance Business (2019-2024)
11.12.5 Liberty Mutual Recent Development
11.13 Medical Protective
11.13.1 Medical Protective Company Detail
11.13.2 Medical Protective Business Overview
11.13.3 Medical Protective Professional Liability Insurance Introduction
11.13.4 Medical Protective Revenue in Professional Liability Insurance Business (2019-2024)
11.13.5 Medical Protective Recent Development
11.14 Aviva
11.14.1 Aviva Company Detail
11.14.2 Aviva Business Overview
11.14.3 Aviva Professional Liability Insurance Introduction
11.14.4 Aviva Revenue in Professional Liability Insurance Business (2019-2024)
11.14.5 Aviva Recent Development
11.15 Zurich
11.15.1 Zurich Company Detail
11.15.2 Zurich Business Overview
11.15.3 Zurich Professional Liability Insurance Introduction
11.15.4 Zurich Revenue in Professional Liability Insurance Business (2019-2024)
11.15.5 Zurich Recent Development
11.16 Sompo Japan Nipponkoa
11.16.1 Sompo Japan Nipponkoa Company Detail
11.16.2 Sompo Japan Nipponkoa Business Overview
11.16.3 Sompo Japan Nipponkoa Professional Liability Insurance Introduction
11.16.4 Sompo Japan Nipponkoa Revenue in Professional Liability Insurance Business (2019-2024)
11.16.5 Sompo Japan Nipponkoa Recent Development
11.17 Munich Re
11.17.1 Munich Re Company Detail
11.17.2 Munich Re Business Overview
11.17.3 Munich Re Professional Liability Insurance Introduction
11.17.4 Munich Re Revenue in Professional Liability Insurance Business (2019-2024)
11.17.5 Munich Re Recent Development
11.18 Aon
11.18.1 Aon Company Detail
11.18.2 Aon Business Overview
11.18.3 Aon Professional Liability Insurance Introduction
11.18.4 Aon Revenue in Professional Liability Insurance Business (2019-2024)
11.18.5 Aon Recent Development
11.19 Beazley
11.19.1 Beazley Company Detail
11.19.2 Beazley Business Overview
11.19.3 Beazley Professional Liability Insurance Introduction
11.19.4 Beazley Revenue in Professional Liability Insurance Business (2019-2024)
11.19.5 Beazley Recent Development
11.20 Mapfre
11.20.1 Mapfre Company Detail
11.20.2 Mapfre Business Overview
11.20.3 Mapfre Professional Liability Insurance Introduction
11.20.4 Mapfre Revenue in Professional Liability Insurance Business (2019-2024)
11.20.5 Mapfre Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
Published By : QY Research
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