Premium position: Revenue growth has been driven by rising numbers of vehicles and employees in the state

Among all states, the Property, Casualty and Direct Insurance industry in California is the largest in terms of written premiums. Over the five years to 2017, the industry has exhibited strong growth as demand for property and casualty insurance has increased, largely as the result of a rising number of motor vehicles being purchased and a growing number of employees in California's workforce. As California law requires private drivers to purchase auto liability insurance, in addition to requiring employers to purchase workers' compensation for their employees, these trends have helped boost revenue over the past five years...read more.

Industry Statistics & Market Size
Revenue
$76bn
Annual Growth 12-17
3.3%
Forecast Growth 17-22
Profit
Employment
49,385
Businesses
1,905
What Our Customers Say

Industry Threats & Opportunities

  • The industry has exhibited strong growth as demand for property and casualty insurance has increased
  • The multiple peril crop market has exhibited the most rapid increase in claims paid
  • The proliferation of autonomous vehicles is projected to pose a threat to auto insurers
  • Industry Report - Industry Products Chapter

    Personal and commercial autoIn 2017, personal and commercial auto lines are anticipated to account for 37.1% and 4.7% of total industry premiums, respectively. Personal auto insurance has increased as a share of premiums over the past five years, whereas commercial auto insurance has remained steady as a fraction of premiums. Insurers provide both liability and collision/comprehensive auto lines. California law requires private passengers to purchase auto liability insurance, making it the largest auto insurance line. Bodily injury liability insurance covers the medical and legal expenses associated with an accident that causes the injury or death of another individual. Alt...purchase to read more.

    Additional Insights for the Property, Casualty & Direct Insurance in California Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Property, Casualty & Direct Insurance in California Industry are

  • Ability to effectively manage risk
  • Offer a range of insurance products
  • Management of a high quality assets portfolio
  • IBISWorld analysts also discuss how external factors such as Number of motor vehicle registrations and Number of Employees in California in the Property, Casualty & Direct Insurance in California industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What is the Property, Casualty & Direct Insurance in California Industry?

    Operators in this industry are primarily engaged in underwriting insurance policies in California that protect individuals, businesses and agencies against losses that occur as a result of property damage, liability or other risks. Insurers also protect real estate owners or creditors against losses sustained as a result of any title defect to real property. This industry does not include insurance coverage for life, disability, accidental death, dismemberment or health risks.

    Industry Products
  • Homeowners multiple peril
  • Workers' compensation
  • Commercial multiple peril
  • Commercial auto
  • Private passenger auto
  • Inland marine
  • Additional liability
  • Industry Activities
  • Directly underwriting automobile insurance
  • Directly underwriting homeowners' insurance
  • Directly underwriting title insurance
  • Directly underwriting workers' compensation insurance
  • Directly underwriting medical malpractice insurance
  • Reinsuring policies from other insurance companies
  • Similar Industries
  • Life Insurance & Annuities
  • Health & Medical Insurance
  • Property, Casualty and Direct Insurance
  • Reinsurance Carriers
  • Workers' Compensation & Other Insurance Funds
  • Life Insurance & Annuities in California
  • Health & Medical Insurance in California
  • Life Insurance & Annuities in New York
  • Health & Medical Insurance in New York
  • Property, Casualty & Direct Insurance in New York
  • Property, Casualty and Direct Insurance in Illinois
  • Life Insurance & Annuities in Illinois
  • Health & Medical Insurance in Illinois
  • Property, Casualty and Direct Insurance in Texas
  • Property, Casualty and Direct Insurance in Florida
  • Health & Medical Insurance in Florida
  • Property, Casualty and Direct Insurance in Massachusetts
  • Life Insurance & Annuities in Massachusetts
  • Health & Medical Insurance in Massachusetts
  • Property, Casualty and Direct Insurance in Ohio
  • Health & Medical Insurance in Ohio
  • Property, Casualty and Direct Insurance in Pennsylvania
  • Life Insurance & Annuities in Pennsylvania
  • Health & Medical Insurance in Pennsylvania
  • Property, Casualty and Direct Insurance in New Jersey
  • Life Insurance & Annuities in New Jersey
  • Health & Medical Insurance in New Jersey
  • Property, Casualty and Direct Insurance in Georgia
  • Life Insurance & Annuities in Georgia
  • Health & Medical Insurance in Georgia
  • Property, Casualty and Direct Insurance in Michigan
  • Life Insurance & Annuities in Michigan
  • Health & Medical Insurance in Michigan
  • Property, Casualty and Direct Insurance in Wisconsin
  • Life Insurance & Annuities in Wisconsin
  • Health & Medical Insurance in Wisconsin
  • Property, Casualty and Direct Insurance in Washington
  • Life Insurance & Annuities in Washington
  • Health & Medical Insurance in Washington
  • Property, Casualty and Direct Insurance in Virginia
  • Life Insurance & Annuities in Virginia
  • Health & Medical Insurance in Virginia
  • Property, Casualty and Direct Insurance in Tennessee
  • Life Insurance & Annuities in Tennessee
  • Health & Medical Insurance in Tennessee
  • Property, Casualty and Direct Insurance in Missouri
  • Life Insurance & Annuities in Missouri
  • Property, Casualty and Direct Insurance in North Carolina
  • Life Insurance & Annuities in North Carolina
  • Health & Medical Insurance in North Carolina
  • Property, Casualty and Direct Insurance in Minnesota
  • Life Insurance & Annuities in Minnesota
  • Health & Medical Insurance in Minnesota
  • Property, Casualty and Direct Insurance in Maryland
  • Life Insurance & Annuities in Maryland
  • Health & Medical Insurance in Maryland
  • Property, Casualty and Direct Insurance in Colorado
  • Life Insurance & Annuities in Colorado
  • Health & Medical Insurance in Colorado
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of motor vehicle registrations
  • Number of Employees in California
  • Homeownership Rate in California
  • Yield on 10-year Treasury note

  • Current Performance
  • Hardening cycle
  • Interest rates
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • Auto market
  • Industry landscape and interest rates
  • Table: Property, Casualty & Direct Insurance in California Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Property, Casualty & Direct Insurance in California Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Mining
  • Wholesale Trade
  • Information
  • Educational Services
  • Consumers

  • Key Selling Industries
  • Insurance Brokers & Agencies
  • Reinsurance Carriers
  • Third-Party Administrators & Insurance Claims Adjusters

  • Products & Services
  • Private passenger auto
  • Workers' compensation
  • Homeowners multiple peril
  • Other
  • Additional liability
  • Commercial multiple peril
  • Commercial auto
  • Inland marine
  • Chart: Property, Casualty & Direct Insurance in California Industry Products and Services Segmentation

  • Major Markets
  • Other commercial market
  • Private vehicle market
  • Other private market
  • Commercial vehicle market
  • Other insurance carriers
  • Chart: Major Market Segmentation for the Property, Casualty & Direct Insurance in California Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Loss and loss adjustment expenses
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Property, Casualty & Direct Insurance in California

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Property, Casualty & Direct Insurance in California Industry

  • Berkshire Hathaway Inc.Farmers Insurance GroupState Farm Mutual Automobile Insurance CompanyLiberty Mutual Insurance Group
  • Table: Berkshire Hathaway Inc. - financial performance
  • Table: Farmers Insurance Group - financial performance
  • Table: State Farm Mutual Automobile Insurance Company - financial performance
  • Table: Liberty Mutual Insurance Group - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Property, Casualty & Direct Insurance in California Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Property, Casualty & Direct Insurance in California Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of Motor Vehicle Registrations (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Attorney-In-Fact
  • An organization authorized to perform business functions on behalf of another party.
  • Capacity
  • The supply of insurance or the maximum amount of insurance a company or market can underwrite, which is determined by a firm's financial strength or surplus.
  • Loss Ratio
  • The percentage of premiums earned that were paid out as claims; it equals loss-incurred and loss-adjusted expenses (LLAE) divided by earned premiums.
  • Policyholder Surplus
  • The difference between an insurer's liabilities and its assets and is the financial cushion that protects policyholders in case of unexpectedly high claims.
  • Title Insurance
  • Indemnity insurance that protects against financial loss from defects in title to real property and from invalidity of mortgage liens.
  • Underwriting
  • The process where insurers assess the risks to insure and decide how much to charge for those risks.
  • Why buy this report?

    The Property, Casualty & Direct Insurance in California Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Property, Casualty & Direct Insurance in California:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Property, Casualty & Direct Insurance in California market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Property, Casualty & Direct Insurance in California, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Contact Us

    Want to speak to a representative? Call us.

    clear