Industry Background:
Inland Marine Insurance is a form of property insurance that covers goods, tools, equipment, and other property that is not tied to a fixed location and is not covered by a standard commercial property policy. Inland Marine Insurance provides coverage for a variety of property, including merchandise ship by truck to a customer, equipment used by construction contractors, musical instruments, photography equipment, fine art, and more. Inland Marine Insurance provides broad coverage for property that helps fill the gap in coverage left by standard commercial property policies.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | CPIC (China), Liberty Mutual (United States), Hartford (United States), Great American Insurance Group (United States), Chubb (United States), Nationwide (United States), Jewelers Mutual (United States), Allstate (United States), AXA (France), Allianz (Germany), AIG (United States), The Travelers Companies (United States), Statefarm (United States), RLI Corp. (United States) and Allianz (Germany) |
This growth is primarily driven by Growing Natural Disasters across the Globe, The Growing Shipping and Transportation Goods Risk Driving the Adoption of Inland Marine Insurance, The Rising Risk in the Businesses Fuelling the Inland Marine Insurance Industry and Inland Marine Exposures Rank among the Most Volatile Of Property Exposures, With Risk Profiles Changing From Day To Day.
Globally, a noticeable market trend is evident
Major Players, such as CPIC (China), Liberty Mutual (United States), Hartford (United States), Great American Insurance Group (United States), Chubb (United States), Nationwide (United States), Jewelers Mutual (United States), Allstate (United States), AXA (France), Allianz (Germany), AIG (United States), The Travelers Companies (United States), Statefarm (United States), RLI Corp. (United States) and Allianz (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On 8 April 2019, AXA XL's North America marine insurance business is continuing to push the frontiers of inland marine coverage with a new contractor's equipment product. New product represents the expansion of the company’s risk appetite and underwriting expertise.
Market Growth Drivers:
Growing Natural Disasters across the Globe, The Growing Shipping and Transportation Goods Risk Driving the Adoption of Inland Marine Insurance, The Rising Risk in the Businesses Fuelling the Inland Marine Insurance Industry and Inland Marine Exposures Rank among the Most Volatile Of Property Exposures, With Risk Profiles Changing From Day To Day
Restraints:
Lack of Awareness among the Business about Inland Marine Insurance Coverage
Opportunities:
Ongoing Growth in the Construction and Freight Industries Is Expected to Open Lucrative Opportunities for the Market during the Projected Period
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Inland Marine Insurance Market
- Analysis about New Entrants in Inland Marine Insurance Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Inland Marine Insurance Study Sheds Light on
The Inland Marine Insurance Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Inland Marine Insurance industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Inland Marine Insurance industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.