Market Overview:

The United States commercial insurance market is expected to exhibit a CAGR of 10.03% during 2022-2027.

Commercial insurance protects the company financially from common risks, such as client litigation, employee injury, property theft and damage, and other unexpected events. It also covers fire, burglary, office package policy, marine, construction, plant and machinery, liability of directors and officers, general and public liability, and cyber security. It offers more coverage due to the involvement of various physical properties compared to personal insurance. As a result, commercial insurance finds extensive applications in the manufacturing, construction, healthcare, energy and utilities, and transportation industries. At present, there is a rise in the demand for commercial insurance in the United States due to the increasing number of small, medium-sized, and large businesses.

United States Commercial Insurance Market Trends:

The growing reliance on commercial insurance among various enterprises to protect the business from scams represents one of the key factors driving the market. Moreover, there is an increase in the number of commercial insurance providers for all businesses in the US. This, along with the rising usage of commercial insurance based on the premium charged for the policies that remain constant throughout the country, is propelling the growth of the market. In addition, there is a rise in the employment of predictive analytics by several commercial insurers to help understand and predict business risks and mitigate losses. This, coupled with the increasing adoption of advanced technologies, such as artificial intelligence (AI) and machine learning (ML) in commercial insurance, is offering lucrative growth opportunities to industry investors. Additionally, the US Government is extensively investing in promoting the utilization of commercial insurance. This initiative is projected to positively influence the market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the United States commercial insurance market report, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on type, enterprise size, distribution channel and industry vertical.

Breakup by Type:

• Liability Insurance
• Commercial Motor Insurance
• Commercial Property Insurance
• Marine Insurance
• Others
   

Breakup by Enterprise Size:

• Large Enterprises
• Small and Medium-sized Enterprises
   

Breakup by Distribution Channel:

• Agents and Brokers
• Direct Response
• Others
   

Breakup by Industry Vertical:

• Transportation and Logistics
• Manufacturing
• Construction
• IT and Telecom
• Healthcare
• Energy and Utilities
• Others
   

Breakup by Region:

• Northeast
• Midwest
• South
• West
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key Questions Answered in This Report:

• How has the United States commercial insurance market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the United States commercial insurance market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the enterprise size?
• What is the breakup of the market based on the distribution channel?
• What is the breakup of the market based on the industry vertical?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the United States commercial insurance market and who are the key players?
• What is the degree of competition in the industry?