Industry Analysis & Industry Trends
The Global General Insurance Carriers industry provides protection against the costs arising from a variety of property and casualty (P&C) events, such as auto accidents, natural catastrophes and medical malpractice. In the five years to 2014, industry revenue declined as investment income plummeted and premium prices softened. The next five years will feature strong revenue gains. Demand for insurance will grow, hardening premium prices, and investment income will pick up as investor confidence returns to global markets... read more
Motor vehicle insurance
The industry's largest product segment, vehicle insurance, is anticipated to account for 36.9% of total industry revenue in 2014. More specifically, the personal market is expected to represent 30.9% of industry revenue, while the commercial market is anticipated to account for the remaining 6.0%. The industry's primary offerings within this segment are bodily injury liability insurance, property damage liability insurance, collision insurance and comprehensive coverage.
Bodily injury liability insurance covers the medical and legal expenses associated with an accident that causes the injury or death of another individual. Property damage liability insurance covers the damages caused by an individual's car to the property of others... read more