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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 can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

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 Products Chapter

General liability

General liability includes protective liability insurance and excess umbrella policies. It provides coverage for contractors so that they are not liable for claims related to damage inflicted due to their work. Such policies can also cover a host of claims including mold, dust, injuries to people, damaged utilities or even property damage related to acts of terrorism. They may or may not cover subcontractor work, which is called a subcontractor default insurance policy, and subcontractors often buy their own general liability insurance. This product segment increased as a share of revenue during the five years to 2013 as overall construction revenue slumped and contractors increasingly worked on high-risk projects to bolster revenue... 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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