Allied Market Research
Loading...
0
Upcoming Allied Market Research
2022
Marine Protection And Indemnity Insurance Market

Marine Protection and Indemnity Insurance Market by Coverage (Illness, Injuries or Loss of the Life; Medical Expenditure; Damage to Cargo; Damage to Other Vessels or Property; Repatriation; War & Other Political Risks and Oil Spill & Pollution Civil Liabilities) and End-User (Ship Owners, Ship-Operators, Charterers of Ships and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

A14738
Pages: NA
Feb 2022 | 161 Views
   
Author(s) : NA
Tables: NA
Charts: NA
  • Formats*:

  • SIngle User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • IComes with the additional cost
    of $2500.00 contact sales.

 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Marine Protection And Indemnity Insurance Market

Request Now !

Marine protection and indemnityinsurance is tailored to the specific needs of the marine industry. It covers virtually all maritime liability risks associated with vessel ownership and operation, including third-party risks for cargo damage while in transit, environmental risks such as oil spills and pollution, war& political risks. Furthermore, when it comes to protection & indemnity insurance, there is no standard underwriting form. Instead, underwriters will create protection & indemnity coverage for each insured based on the risk's nature and character as well as the amount of coverage desired. Moreover, a protection & indemnity club, which is essentially a mutual insurance association that provides risk pooling, information, representation, and risk mitigation, is frequently used to provide protection & indemnity insurance, by providing protection against personal injuries, death claims & illnesses from the crew, passengers & others. Therefore, the increase in demand for the protection & indemnity insurance in the marine industry is expected to boost the growth of the marine protection & indemnity insurance market in the coming years.

The Marine Protection and Indemnity Insurance market is segmented on the basis of Coverage, End User, and Region. Based on Coverage, the market is divided into Illness, Injuries or Loss of the Life; Medical Expenditure; Damage to Cargo; Damage to Other Vessels or Property; Repatriation; War & Other Political Risks and Oil Spill & Pollution Civil Liabilities. In terms of End-User, the market is categorized into Ship Owners, Ship-Operators, Charterers of Ships and Others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the Marine Protection and Indemnity Insurance industry include Berkshire Hathaway Inc., Ping An Insurance, AIA Group, Allianz, Tokio Marine Holdings, Zurich, Munich, AXA, Chubb, and Aon Plc. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the Marine Protection and Indemnity Insurance  market.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2030

  Base year considered

  2020

  Forecast period

  2021–2030

  Forecast unit

  Value ($)

  Segments covered

  Coverage, End User,and Region

  Companies covered

Berkshire Hathaway Inc., Ping An Insurance, AIA Group, Allianz, Tokio Marine Holdings, Zurich, Munich, AXA, Chubb, and Aon Plc

 

COVID-19 scenario analysis

Businesses have felt the economic consequences of the pandemic, despite the tragic human impact of COVID-19 and government restrictions on travel and commerce. COVID-19 has altered the risk landscape in the marine industry, raising concerns about shipowners' protection and indemnity (P&I) coverage and how it may be triggered.

Furthermore, COVID-19 caused severe trade imbalances, and ship-ownershave been increasingly confronted with port congestion, requiring containerized cargos to be offloaded short of their final destination port and stored for delivery at a later date. Although this is a common occurrence in the container trade, much longer delays are expected, making it more difficult to predict what will happen. So, there has been rise in need for protection & indemnity insurance, and this is driving the growth of the market during the forecast period.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysi

Increased customization of marine protection & indemnity insurance policies and incorporation of technological tools to assess risks are driving the growth of the market. In addition, rise in awareness of different kinds of coverages included in the protection & indemnity insurance helps propel the growth of the market. However, there are certain losses or claims, which cannot be covered, such as certain kinds of liability claims made by employers or the claims made by crew members who have suffered some accidents in the ship, which are expected to limit the growth of the market.Contrarily, growingadoption of protection & indemnity insurance over the years is expected to fuel the growth of the market in the coming years.

The global marine protection & indemnity insurancemarket trends are as follows:

Differentiating measures when compared with marine insurance policies

There are no standard forms or terms and conditions associated with marine protection and indemnity insurance policies. The underwriters customize coverage for each insured based on the insured's personality, the nature of the risk, and the amount of insurance desired.Furthermore, as the marine protection and indemnity insurance policy is a contract associated with indemnity, the insurance provider will not be liable to pay unless the claim is paid by the insuredand it differs from standard marine insurance. Therefore, the assistance in addressing the needs in the marine industry is driving the growth of the marine protection and indemnity insurance market during the forecast period.


Incorporation of technological tools to assess risks

Commercial insurers & brokers can now better predict the third-party liability risks that their clients pose to their insurers, due to technological advancements.Storing and collecting claims data has resulted in the development of massive datasets on ship behavioral patterns, operations, and claims.From these datasets, algorithms can quickly process hundreds of thousands of factors & data points, identifying trends & predicting future loss values. Furthermore, the risk assessment can be more accurate if the data is more diverse and all-encompassing. The ability to predict future risks and loss prevention initiatives would be greatly improved by collecting and sharing historical claims and behavioral data.

Therefore, rise in the integration of technological advancements is expected to boost the growth of the marine protection & indemnity insurance market during the forecast period.

Key benefits of the report:

  • This study presents analytical depiction of the global marine protection and indemnity insurance market along with the current trends and future estimations to determine the imminent investment pockets.    
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.     
  • The current market is quantitatively analyzed from 2021 to 2030 to highlight the global marine protection and indemnity insurance market growth scenario.         
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.    
  • The report provides a detailed market analysis depending on the present and future competitive intensity of the market.

Questions answered in the marine protection and indemnity insurancemarket research report:    

  • Which are the leading players active in the global marine protection and indemnity insurancemarket?
  • What would be the detailed impact of COVID-19 on the global marine protection and indemnity insurancemarket?
  • What are current trends that would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the global marine protection and indemnity insurance market?
  • What are the projections for the future that would help in taking further strategic steps?

Key Market Segments

Segments Sub-segments
Coverage
  • Illness, Injuries or Loss of the Life
  • Medical Expenditure
  • Damage to Cargo
  • Damage to Other Vessels or Property
  • Repatriation
  • War & Other Political Risks
  • Oil Spill & Pollution Civil Liabilities
End User
  • Ship Owners
  • Ship Operators
  • Charterers of Ships
  • Others
By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
PURCHASE OPTIONS

Start reading ,This Report and over 13000+ thousand more Reports, Available with Avenue Library, T&C*

Call or Email us

U.S.-Canada
Toll-free :
+1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com
 
Allied Market Research Allied Market Research Allied Market Research

Access from any device, anywhere

Clients can easily download both quantitative as well as
qualitative reports in PDF and excel formats.

RELATED TAGS
 

HAVE QUESTIONS?
SPEAK WITH ANALYST

 

FREQUENTLY ASKED
QUESTIONS?

 

DID YOU MISS ANYTHING?
DO YOU HAVE SPECIFIC REQUIREMENTS?

 

REQUEST TOC/SAMPLE

OR

Purchase Full Report of
Marine Protection And Indemnity Insurance Market

Start reading.
This Report and over 13,000+ thousand more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,456
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Data Pack
  • $3,840
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Single User
  • $5,769
  • Restricted to one authorized user
  • One print only
  • Available in Excel & PDF
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Five Users
  • $6,450
  • Limited to five authorized users
  • Print upto five copies
  • Available in Excel & PDF
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Enterprise
    License/PDF

  • $9,995
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Library Membership
  • $ 699/mo
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 
 

Featured Reports

 

Erythropoietin Drugs Market

Global Opportunity Analysis and Industry Forecast, 2021–2028

Published in May 2021

Download Sample

Protein Therapeutics Market

Global Opportunity Analysis and Industry Forecast, 2017-2023

Published in Nov 2017

Download Sample

Surgical Equipment Market

Global Opportunity Analysis and Industry Forecast, 2020-2027

Published in Jan 2021

Download Sample

Medical Implant Market

Global Opportunity Analysis and Industry Forecast, 2020–2027

Published in Nov 2020

Download Sample

Featured Readings

 

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

 
Get Industry Data Alerts
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers