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Contractors' Insurance in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Contractors' Insurance Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Apr 2013

Under cover: As construction picks up, jobs for contractors will rise, requiring more industry insurance

IBISWorld’s Contractors' Insurance market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
AIG AIG market share
Liberty Mutual Group Inc. Liberty Mutual Group Inc. market share
The Travelers Companies Inc. The Travelers Companies Inc. market share
Industry Statistics & Market Size
Revenue
$10bn
Annual Growth 08-13
-0.7%
Annual Growth 13-18
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Profit
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Employment
670
Businesses
100
Industry Analysis & Industry Trends

With strong reliance on the construction market, this industry faced steep declines in the five years to 2013, particularly during the recession. However, as the construction market continues to recover from its recessionary lows, and employment in the United States continues to rise, the Contractors' Insurance industry will grow in the five years to 2018. The industry's technological change and innovation will continue to remain low, despite the implementation of some online services.... purchase to read more

Industry Report - Industry Investment Chapter

The Contractors' Insurance industry uses capital primarily in the form of IT to track policies, payments and claims. Actuaries also use software to model insurance risk, ensuring firms have proper reserves in case of a catastrophic event. One key technological investment has been in online distribution, which is becoming a key business portal, as the majority of consumers now shop online for insurance coverage. Internet use has lowered labor intensity, which has limited growth in wages as a share of revenue over the past five years. Despite marginally lower labor intensity, the industry still requires personnel for selling, administration and processing... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Contractors' Insurance Industry?

This industry includes companies that underwrite workplace risks for contractors in the construction sector. These companies generally cover the insured in the case of a loss stemming from contractor or subcontractor negligence on the job. This report excludes a discussion of construction bonding such as surety bonds.

Industry Products
Contractors general liability insuranceContractors workers compensation insuranceContractors other insurance
 
Industry Activities
Directly underwriting insurance for construction contractorsManaging insurance claims from contractorsMarketing contractors' insurance


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