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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 | Mar 2013

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

IBISWorld’s Product Warranty & Liability Insurance market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
The Warranty Group The Warranty Group market share
Industry Statistics & Market Size
Revenue
$6bn
Annual Growth 08-13
-1.2%
Annual Growth 13-18
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Profit
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Employment
7,095
Businesses
56
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 and Liability Insurance industry has a low level of capital requirements. In 2013, for every dollar spent on wages, the average firm will invest roughly $0.12 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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