Scope of the Study
Earthquake insurance is the property insurance which pays the policyholder in the event of earthquake damage. It features a high deductible, which makes the earthquake insurance useful if the entire home is destroyed, but not useful if the home is merely damaged. The premium may vary depending on the material used in homes such as wood, location, and the probability of earthquake. After a sizeable earthquake has occurred the insurance companies stop selling the coverage for few weeks. Various government regulations in different countries is increasing the demand for earthquake insurance.
The market study is being classified by Type (Life Insurance and Non-Life Insurance) and major geographies with country level break-up.
Farmers insurance group (United States), Allstate (United States), State Farm (United States), Liberty Mutual (United States), Nationwide (United States), USAA (United States), Safeco (United States), Mapfre (Spain), GeoVera (United States) and Munich Re (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Mercury (United States), HDFC Ergo (India), Hartford Insurance group (United States), Erie insurance group (United States), Fairfax financial group (Canada), W.R. Barkley corporation (United States) and Zurich insurance group (Switzerland).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Earthquake Insurance market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Earthquake Insurance market by Type, Application and Region.
On the basis of geography, the market of Earthquake Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Prevalence of Natural Disasters
- Benefits Such as Personal Property Coverage is Fuelling the Market Growth
- Property Insurance are Now Made to Compensate an Insured for the Financial Impact
- Stringent Government Regulations
- High Costs Associated with the Insurance
- Increasing Per capita Income
- Lack of Awareness about the Earthquake Insurance
- High Risk Associated with the Insurance
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Key Target AudienceInsurance provider, Government Regulatory Bodies, Government associations, Research organisations, Private Research Organisations and Others
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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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