|By PR Newswire||
|November 8, 2012 02:49 PM EST||
NEW YORK, Nov. 8, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Professional Indemnity Insurance in Canada is a report about the Canadian market for and distribution of policies covering professional liability. For 2007, 2011 and with a forecast for 2015, the study breaks down the market for professional indemnity insurance on a standardised basis by professional group with 12 categories considered as follows:
accountancy and finance
architecture and engineering
broadcasting and publishing
estate agency and property
financial and insurance intermediation
IT and business consulting
medicine and dentistry
other professional sectors
Furthermore, on the basis of a survey of 150 professional associations, it identifies affinity schemes for professional indemnity insurance in Canada set up between professional bodies and brokers or underwriters of this type of cover, highlights other key underwriters and brokers of professional indemnity insurance and other distribution channels used to sell this form of insurance, and discusses key issues associated with the market. As such, the report is the most comprehensive analysis of professional indemnity insurance in Canada ever produced.
You may be able to use these reports plus the accompanying PartnerBASE™ datasets and market data annexes in one or more of the following ways:
- to compare the size, growth rates and future prospects of professional liability insurance markets in Canada across 12 distinct categories, utilising the market data annexe as a convenient source of data already in Excel format;
- to evaluate the potential for your organisation to target professional indemnity propositions at specific professions;
- to understand the competitive environment for broking and underwriting in Canada by professional category;
- to gain access to a single comprehensive source of information providing broker and / or underwriter details for affinity schemes set up by professional associations for this form of insurance;
- to appreciate which professional categories in Canada offer the best long-term potential, which are already saturated with competitors, and what product or distribution innovations are occurring.
0.0 EXECUTIVE SUMMARY
What is this report about?
Finaccord's study breaks down the market into 12 professional categories
This is the first ever report published on this subject...
... with affinity schemes researched in detail through the associated PartnerBASE dataset
Professional indemnity insurance
PartnerBASE™ and market data annexe
2.0 MARKET ANALYSIS
Number of insurable enterprises
IT and business consulting is the largest of the professional categories analysed...
...while healthcare-related services has been the fastest-growing by number of insurable enterprises
Professional liability insurance is worth over USD 1.1 billion in gross written premiums and other revenue
The CMPA covered around 83,000 medical practitioners in Canada in 2011...
...while the HIRC is the main insurer for hospitals
LAWPRO is the biggest provider of professional indemnity insurance for lawyers...
...while the CLIA is an insurance exchange for professional liability risks for lawyers in several provinces
While premiums for architects have stabilised, market conditions for home inspectors are more difficult
Financial intermediaries have benefited from soft pricing in recent years...
..while abundant capacity has also created favourable premium rates for most IT and business consultants
Insurers struggle to write profitable business for the accounting profession
Nurses are normally covered through the CNPS
Professional indemnity insurance for social workers has become a sizeable market
FARCIQ covers around 18,000 real estate professionals in Quebec
Insurance cover for media organisations is seen to have high potential but demand has not yet taken off
Chiropractors run their own organisation to ensure affordable protection...
...while underwriting yoga instructors is reportedly profitable due to their low claims frequency
Professional indemnity insurance premiums have grown more slowly than the total general liability market
Close to half of professional associations have an affinity partnership for professional liability cover...
...rising to over 90% for associations representing enterprises active in alternative medicine
Lawyers normally take out compulsory cover through the provincial law societies...
Partnerships are spread across 32 brokers, headed by LMS Prolink and Aon Reed Stenhouse
JTL works primarily with associations in the field of architecture and engineering....
...while McFarlan Rowlands has ties in the segment of healthcare-related services
Encon is the underwriter with the highest number of verified partnerships...
...while Lloyd's underwriters also have several ties across a diverse range of professional associations...
...and Novex / Intact focusses on partnerships in the area of healthcare-related services
A number of professional associations make professional liability cover compulsory for membership
Several associations have maintained the same affinity scheme for over a decade...
...although others have begun a new relationship within the last two years
Other key insurance providers and distribution channels
In some segments, professionals take out insurance directly from brokers
IT and business consulting is the sector with the highest growth potential up to 2015...
...while lawyers' premium rates will be impacted by rising claims costs
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY
Number of insurable enterprises and value of professional indemnity insurance in Canada, segmented by professional sector, 2011
2.0 MARKET ANALYSIS
Insurable enterprises in Canada, segmented by professional sector, 2011
Number of insurable enterprises in Canada, segmented by professional sector, 2007 and 2011 (data)
Approximate gross written premiums for professional indemnity insurance in Canada, segmented by professional sector, 2007 and 2011
Approximate gross written premiums for professional indemnity insurance in Canada, segmented by professional sector, 2007 and 2011 (data)
Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in Canada, 2007 and 2011
Affinity schemes for professional indemnity insurance in Canada: provision rate and operating models, 2011
Affinity schemes for professional indemnity insurance in Canada: broker share of partnerships, 2011
Affinity schemes for professional indemnity insurance in Canada: underwriter share of partnerships, 2011
Forecast for gross written premiums for professional indemnity insurance in Canada, segmented by professional sector, 2011 and 2015
Forecast for gross written premiums for professional indemnity insurance in Canada, segmented by professional sector, 2011 and 2015 (data)
To order this report:
Contact Nicolas: [email protected]
Intl: +1 805-652-2626
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web ...
Dec. 4, 2016 06:45 AM EST Reads: 1,222
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Dec. 4, 2016 06:15 AM EST Reads: 6,959
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Dec. 4, 2016 05:30 AM EST Reads: 1,751
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes how...
Dec. 4, 2016 04:45 AM EST Reads: 4,962
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Dec. 4, 2016 04:30 AM EST Reads: 1,554
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
Dec. 4, 2016 04:30 AM EST Reads: 861
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, discussed how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved efficienc...
Dec. 4, 2016 04:00 AM EST Reads: 4,955
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
Dec. 4, 2016 04:00 AM EST Reads: 6,225
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, will share examples from a wide range of industries – includin...
Dec. 4, 2016 03:45 AM EST Reads: 1,553
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 4, 2016 02:15 AM EST Reads: 877
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
Dec. 4, 2016 02:00 AM EST Reads: 3,783
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
Dec. 4, 2016 12:30 AM EST Reads: 1,787
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data professionals...
Dec. 3, 2016 11:00 PM EST Reads: 4,165
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 3, 2016 11:00 PM EST Reads: 969
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Dec. 3, 2016 09:30 PM EST Reads: 1,618