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The global commercial property insurance market reached a value of US$ XX Billion in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Commercial property insurance protects the physical assets of a company from fire, explosion, pipe burst, storms, theft, vandalism, or any loss arising due to the property damage. It can also cover various other losses, including business personal property, business income, inland marine, and cargo. It is generally utilized by businesses that lease or own office space, manufacture products, manage inventory, lease equipment, and maintain properties of others. Presently, several insurance firms are offering tailor-made property damage and business interruption insurance, which caters to the needs of different organizations, from small and medium commercial enterprises to large corporations.
Large enterprises usually own multiple buildings due to the vast operations of the business. This, in turn, increases the need for commercial property insurance to protect buildings from unforeseen circumstances, reduce business risk, and improve goodwill for being a responsible business enterprise. Moreover, due to the rising incidents of catastrophic events, burglary, and theft, general stores, restaurants, or small and medium-sized enterprises (SMEs) are relying on commercial property insurance to reduce their financial risk. Apart from this, as oil and gas firms usually have high-risk assets on their property, there is a rise in the uptake of commercial property insurance policies to protect structures above and below ground, onsite storage systems, shelving components, and other equipment. Furthermore, significant growth in the export and trade activities is positively influencing the adoption of commercial property and inland marine policies that provide the insured with mono-line coverage for their business locations and equipment. They also include coverage for theft and structures and materials during new construction projects or renovations at an additional charge.
IMARC Group provides an analysis of the key trends in each sub-segment of the global commercial property insurance market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, enterprise size and application.
Breakup by Type:
Breakup by Enterprise Size:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aegon Life Insurance Company Limited, Allianz SE, Aviva plc, Axa S.A., Insureon (HUB International Limited), Nationwide Mutual Insurance Company, Prudential Financial Inc., State Farm Mutual Automobile Insurance Company and The Hartford Financial Services Group Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Enterprise Size, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Aegon Life Insurance Company Limited, Allianz SE, Aviva plc, Axa S.A., Insureon (HUB International Limited), Nationwide Mutual Insurance Company, Prudential Financial Inc., State Farm Mutual Automobile Insurance Company and The Hartford Financial Services Group Inc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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