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Product Warranty & Liability Insurance in the US: Market Research Report

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

Product Warranty & Liability Insurance Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Aug 2014

Solid protection: Rising incomes will spur big-ticket sales, lifting demand for warranties

IBISWorld’s Product Warranty & Liability 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
The Warranty Group The Warranty Group market share
Industry Statistics & Market Size
Revenue
$1bn
Annual Growth 09-14
-3.5%
Annual Growth 14-19
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Profit
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Employment
3,655
Businesses
53
Industry Analysis & Industry Trends

Product warranty insurance providers felt the brunt of the recession's effects as consumers struggled with lower disposable income, rising unemployment and limited access to financing. A reduction in purchases of household appliances and consumer electronics created fewer opportunities for underwriting new product warranty policies. However, the improved economy is spurring a recovery in revenue. Over the next five years, the industry is forecast to return on a path toward growth, backed by rising consumer income levels.... purchase to read more

Industry Report - Industry Investment Chapter

The Product Warranty Insurance industry has a low level of capital requirements. In 2014, for every dollar spent on wages, the average firm will invest roughly $0.05 in capital equipment. Generally, this industry is more labor-intensive, relying on the skills of underwriters and other insurance professionals to help sell, underwrite and process product warranty policies. Most capital expenses have come in the form of technology upgrades, as capital is needed for information technology as systems are used to track policies, payments and claims. Systems are also used by actuaries to model insurance risk; ensuring firms have proper reserves in case of a catastrophic event... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Product Warranty & Liability Insurance Industry?

This industry comprises establishments primarily engaged in underwriting product warranty policies, which protect the buyer of the product from defects and damage. The industry excludes warranty programs for homes, automobiles and other vehicles. It also excludes companies that perform repair services for products under warranty.

Industry Products
Electronics protection policiesOther product protection policiesHome appliance protection policies
 
Industry Activities
Underwriting factory warranties for manufacturersUnderwriting extended warranties forers and consumersProviding training and marketing services


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