|By PR Newswire||
|February 17, 2014 09:32 AM EST||
NEW YORK, Feb. 17, 2014 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Professional Indemnity Insurance in the UK
Professional Indemnity Insurance in the UK is about the UK market for and distribution of policies covering professional liability. For 2009, 2013 and with a forecast for 2017. 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, management and financial consulting;
medicine and dentistry;
and other professional sectors.
On the basis of a survey of 150 professional associations, it also identifies affinity schemes for professional indemnity insurance in the UK set up between professional associations and brokers or underwriters of this type of cover. In addition, it 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 the UK available in a published format.
You may be able to use this report and the accompanying PartnerBASE™ dataset in one or more of the following ways:
- to compare the size, growth rates and future prospects of professional indemnity insurance markets in the UK;
- to evaluate the potential for your organisation to target professional indemnity propositions at specific professions;
- to understand the competitive environment for broking and underwriting 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 in the UK for this form of insurance;
- to appreciate which professional categories offer the best long-term potential, which are already saturated with competitors, and what product or distribution innovations are occurring.
TABLE OF CONTENTS
0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 3
What is this report about? 3
Finaccord's study breaks down individual country markets into 12 professional categories 3
This is series of reports brings this complex sector up to date. 3
. with affinity schemes researched in detail through the associated PartnerBASE dataset 3
Association survey 4
Market data 4
Professional indemnity insurance 6
Operating models 7
Other notes 7
PartnerBASE and market data annexe 8
2.0 MARKET ANALYSIS 9
Number of insurable enterprises 10
More than one third of insurable enterprises come from the IT and business consulting sector 10
Only one professional category declined in number between 2009 and 2013 11
Market size 13
The UK hosts the largest professional indemnity insurance market in Europe by overall value 13
Medical liability insurance in the UK has been characterised by an increase in claims. 13
. in a market in which the bulk of cover is underwritten by specialist companies 13
An increasing proportion of solicitors are choosing to purchase top-up cover. 14
Large and small solicitors face different dynamics in premium rates in 2013 15
Surveyors exposed to valuation risks have seen sharply rising premiums 15
The withdrawal of Aviva from the accountancy and finance sector may cause price movements 15
Several insurers no longer underwrite professional indemnity risks for financial advisers 16
Professional indemnity cover accounts for a high and rising proportion of the overall liability market 17
Affinity schemes 18
The majority of professional associations have an affinity partnership for professional indemnity insurance 18
Trafalgar Risk Management is involved in the most affinity deals… 19
. with Towergate Professional Risks also prominent in this market 19
Jelf Group and Stackhouse Poland both collaborate with at least four professional associations. 19
. in a market for affinity programs in which over 40 brokers are involved in total. 19
Hiscox is the most prominent underwriter in the market for professional indemnity affinity schemes. 20
. followed by RSA 21
Other key insurance providers and distribution channels 22
Brokers are the key distribution channel in the UK with relatively little cover acquired directly 22
Howden is a leading broker for financial advisers while Lockton is strong in the market for accountants 22
Away from the affinity market, at least 25 other underwriters insure professional risks in the UK 22
Professional indemnity insurance policies can be bought online. 22
.but banks are not an important distribution channel for this product 23
Market forecast 23
Premium growth will accelerate in several segments up to 2017 23
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY 1
Number of insurable enterprises and value of professional indemnity insurance in the UK, segmented by professional sector, 2013 2
1.0 INTRODUCTION 3
Professional associations contacted by Finaccord, segmented by professional category and membership type 5
2.0 MARKET ANALYSIS 9
Number of insurable enterprises in the UK, segmented by professional sector, 2013 10
Compound annual growth or decline in number of insurable enterprises in the UK, segmented by professional sector, 2009-2013 11
Number of insurable enterprises in the UK, segmented by professional sector, 2009 and 2013 (data) 12
Approximate gross written premiums for professional indemnity insurance in the UK, segmented by professional sector, 2009 and 2013 14
Approximate gross written premiums for professional indemnity insurance in the UK, segmented by professional sector, 2009 and 2013 (data) 16
Approximate gross written premiums for total general liability insurance and gross written premiums for professional indemnity insurance as a percentage of these in the UK, 2009 and 2013 17
Affinity schemes for professional indemnity insurance in the UK: provision rate and operating models, 2013 18
Affinity schemes for professional indemnity insurance in the UK: broker share of partnerships, 2013 20
Affinity schemes for professional indemnity insurance in the UK: underwriter share of partnerships, 2013 21
Forecast for gross written premiums for professional indemnity insurance in the UK, segmented by professional sector, 2013 and 2017 24
Forecast for gross written premiums for professional indemnity insurance in the UK, segmented by professional sector, 2013 and 2017 (data) 24
To order this report: Professional Indemnity Insurance in the UK
Contact Clare: email@example.com
Intl: +1 339-368-6001
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Feb. 20, 2017 06:45 AM EST Reads: 170
In the first article of this three-part series on hybrid cloud security, we discussed the Shared Responsibility Model and examined how the most common attack strategies persist, are amplified, or are mitigated as assets move from data centers to the cloud. Today, we’ll look at some of the unique security challenges that are introduced by public cloud environments. While cloud computing delivers many operational, cost-saving and security benefits, it takes place in a public, shared and on-demand ...
Feb. 20, 2017 06:30 AM EST Reads: 1,070
Both SaaS vendors and SaaS buyers are going “all-in” to hyperscale IaaS platforms such as AWS, which is disrupting the SaaS value proposition. Why should the enterprise SaaS consumer pay for the SaaS service if their data is resident in adjacent AWS S3 buckets? If both SaaS sellers and buyers are using the same cloud tools, automation and pay-per-transaction model offered by IaaS platforms, then why not host the “shrink-wrapped” software in the customers’ cloud? Further, serverless computing, cl...
Feb. 20, 2017 06:00 AM EST Reads: 1,608
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin, ...
Feb. 20, 2017 05:30 AM EST Reads: 4,575
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.
Feb. 20, 2017 05:15 AM EST Reads: 101
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
Feb. 20, 2017 05:15 AM EST Reads: 1,353
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Feb. 20, 2017 03:30 AM EST Reads: 6,148
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 20, 2017 03:15 AM EST Reads: 1,337
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Feb. 20, 2017 02:00 AM EST Reads: 6,106
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
Feb. 20, 2017 02:00 AM EST Reads: 4,156
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 20, 2017 01:00 AM EST Reads: 5,214
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
Feb. 20, 2017 01:00 AM EST Reads: 833
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Feb. 20, 2017 12:45 AM EST Reads: 2,395
Zerto exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016. Zerto is committed to keeping enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform™, organizations can seamlessly move and protect virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual...
Feb. 20, 2017 12:15 AM EST Reads: 972
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
Feb. 20, 2017 12:00 AM EST Reads: 1,415