Industry Analysis & Industry Trends
Gains in both policy volumes and premium prices have spurred revenue growth for the Boat Insurance industry over the five years to 2015. The market for boat insurers has been impacted by distinct demographic changes over the period, as aging baby boomers have become increasingly interested in boats as they retire. Continued increases in boat ownership and premium prices over the next five years are expected to sustain the industry's growth. Additionally, anticipated economic improvements over the five years to 2020 will bolster the industry's investment income.... purchase to read more
Industry Report - Starting a New Business Chapter
The Boat Insurance industry has medium barriers to entry. A new entrant must conform to stringent state and federal regulations to establish property and casualty (P&C) and title insurance operations. The P&C and title insurance markets are also highly competitive. Both markets are highly saturated with a large number of well-established brands, while the title insurance market is heavily concentrated, with the top four firms accounting for about 92.4% of title insurance revenue. The Boat Insurance industry is also highly complex, as some of the nation’s largest state markets are also the riskiest with regards to losses (e.g. Florida and California).
A new entrant must apply for a Certificate of Authority to supply insurance products if they are to begin operating as an insurer... purchase to read more