Global Workers Compensation Insurance Market Overview:
Workers compensation insurance offers medical and wage benefits to people who are injured at work. The coverage is authorized by each state and the wage and medical benefits vary by state. Workers compensation is considered a social insurance because it relies on a social contract between organization and labor. It is purchased by businesses where exchange for purchasing workers compensation insurance, industry owners are protected from civil suits from their workers who become injured on the job.
- Increasing Awareness about Workplace Safety
- Growing Healthcare Costs
- Collaboration between traditional insurance and Insur Tech firms
- Health Insurance at Low Costs
- Improving Labor Market Conditions and Surging Equity Markets
- Rising Adoption of Workers Compensation Insurance in Developing Countries
- Tricky Terms and Conditions
Some of the key players profiled in the report are AIG (United States), Berkshire Hathaway (United States), Liberty Mutual (United States), Zurich Insurance (Switzerland), Allianz (Germany), Tokio Marine (Japan), XL Group (United States), ACE&Chubb (United States), QBE (Australia) and Bharti AXA (India). Additionally, following companies can also be profiled that are part of our coverage like American International Group (United States), Chubb Ltd. (United States), Beazley (United Kingdom), State Farm (United States) and GEICO (United States). Analyst at AdvanceMarketAnalytics see United States Players to retain maximum share of Global Workers Compensation Insurance market by 2024. Considering Market by Providers, the sub-segment i.e. Agency will boost the Workers Compensation Insurance market. Considering Market by Offerings, the sub-segment i.e. Medical Benefits will boost the Workers Compensation Insurance market.
On April 15, 2019 - Liberty Mutual Insurance announced today it has signed a definitive agreement to acquire the global surety and credit reinsurance operations of AmTrust Financial Services, Inc. (AmTrust), a multinational property and casualty insurer specializing in coverage for small to midsized businesses. and On June 2, 2019 - Zurich Insurance Group (Zurich) has successfully completed the acquisition of ANZís life insurance business, OnePath Life, becoming a leading life insurer for retail customers in that market.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Workers Compensation Insurance market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Workers Compensation Insurance market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Service Providers of Workers Compensation Insurance, Insurance Association, Government Bodies, Consulting firms and Emerging Companies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.