Product Code: A30183
Medical professional liability insurance is a type of liability insurance that protects against risks specific to the profession, such as careless misdiagnosis, inappropriate medication dose, improper surgery, and the wrong course of treatment. If a doctor ever acts improperly against a patient, the insurance is intended to support them both financially and legally. It also helps defend them from accusations of negligence.
Medical liability insurance minimizes the risk, such as bodily injury caused to any person because of misdiagnosis or any other circumstances. In addition, it reduces out of pocket costs for the insured. Without coverage, the insured have to pay out of pocket to cover claims, which can put their business at financial risk. Moreover, surge in awareness of medical professional liability insurance in developing countries is a factor that propels the market growth. However, rise in medical professional liability insurance premium cost and lack of knowledge about coverage included in medical professional liability insurance policy are some major factors that limit the growth of the medical professional liability insurance market. On the contrary, medical professional liability insurance is an essential coverage for providing compensation for health staff to recover from a work-related injury or illness. Therefore, rise in cases of hospital-related accidents is expected to provide major lucrative opportunities for the growth of the medical professional liability insurance market.
The medical professional liability insurance market is segmented into type, claim type, coverage, application, distribution channel, and region. By type, the market is differentiated into occurrence-based policies and claims-based policies. The claims type is segmented into misdiagnosis or delayed diagnosis, childbirth injuries, medication errors, surgical errors and others. By coverage, the market is segmented into up to US$1 million, US$1 million to US$5 million, US$5 million to US$20 million and above US$20 million. Depending on application, it is bifurcated into individual and commercial. The commercial is further segmented into private hospital and public hospital. Private hospital is further segregated into large hospital and small and medium-sized hospital The distribution channel segment is segregated into agents & brokers, direct response, banks and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The medical professional liability insurance market analysis includes top companies operating in the market such as Allianz, Aviva, AXA, Berkshire Hathaway Specialty Insurance, Chubb, Cigna, CoverWallet, Coverys, Liberty Mutual Group, MagMutual LLC, MCIC Vermont, ProAssurance Corporation, The Doctors Company, The Hartford, Zurich, The Travelers Indemnity Company, and CNA. These players have adopted various strategies to increase their market penetration and strengthen their position in the medical professional liability insurance industry.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global medical professional liability insurance market along with the current trends and future estimations to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the global medical professional liability insurance market size are provided in the report.
- The Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global medical professional liability insurance market from 2021 to 2031 is provided to determine the market potential.
Key Market Segments
By Type
- Occurrence-based Policies
- Claims-based Policies
By Claim Type
- Medication Errors
- Surgical Errors
- Others
- Misdiagnosis or Delayed Diagnosis
- Childbirth Injuries
By Coverage
- Up to US$1 Million
- US$1 Million to US$5 Million
- US$5 Million to US$20 Million
- Above US$20 Million
By Application
- Individual
- Commercial
- Commercial
- Private Hospital
- Public Hospital
By Distribution Channel
- Agents and Brokers
- Direct Response
- Banks
- Others
By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Allianz
- Aviva
- AXA
- Berkshire Hathaway Specialty Insurance
- Chubb
- Cigna
- CoverWallet
- Coverys
- Liberty Mutual Group
- MagMutual LLC
- MCIC Vermont
- ProAssurance Corporation
- The Doctors Company
- The Hartford
- Zurich
- The Travelers Indemnity Company
- CNA
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key market segments
- 1.3.Key benefits to the stakeholders
- 1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings of the study
- 2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top investment pockets
- 3.3.Porter's five forces analysis
- 3.4.Top player positioning
- 3.5.Market dynamics
- 3.5.1.Drivers
- 3.5.2.Restraints
- 3.5.3.Opportunities
- 3.6.COVID-19 Impact Analysis on the market
CHAPTER 4: MEDICAL PROFESSIONAL LIABILITY INSURANCE MARKET, BY TYPE
- 4.1 Overview
- 4.1.1 Market size and forecast
- 4.2 Occurrence-based Policies
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market analysis by country
- 4.3 Claims-based Policies
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market analysis by country
CHAPTER 5: MEDICAL PROFESSIONAL LIABILITY INSURANCE MARKET, BY CLAIM TYPE
- 5.1 Overview
- 5.1.1 Market size and forecast
- 5.2 Misdiagnosis or Delayed Diagnosis
- 5.2.1 Key market trends, growth factors and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market analysis by country
- 5.3 Childbirth Injuries
- 5.3.1 Key market trends, growth factors and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market analysis by country
- 5.4 Medication Errors
- 5.4.1 Key market trends, growth factors and opportunities
- 5.4.2 Market size and forecast, by region
- 5.4.3 Market analysis by country
- 5.5 Surgical Errors
- 5.5.1 Key market trends, growth factors and opportunities
- 5.5.2 Market size and forecast, by region
- 5.5.3 Market analysis by country
- 5.6 Others
- 5.6.1 Key market trends, growth factors and opportunities
- 5.6.2 Market size and forecast, by region
- 5.6.3 Market analysis by country
CHAPTER 6: MEDICAL PROFESSIONAL LIABILITY INSURANCE MARKET, BY COVERAGE
- 6.1 Overview
- 6.1.1 Market size and forecast
- 6.2 Up to US$1 Million
- 6.2.1 Key market trends, growth factors and opportunities
- 6.2.2 Market size and forecast, by region
- 6.2.3 Market analysis by country
- 6.3 US$1 Million to US$5 Million
- 6.3.1 Key market trends, growth factors and opportunities
- 6.3.2 Market size and forecast, by region
- 6.3.3 Market analysis by country
- 6.4 US$5 Million to US$20 Million
- 6.4.1 Key market trends, growth factors and opportunities
- 6.4.2 Market size and forecast, by region
- 6.4.3 Market analysis by country
- 6.5 Above US$20 Million
- 6.5.1 Key market trends, growth factors and opportunities
- 6.5.2 Market size and forecast, by region
- 6.5.3 Market analysis by country
CHAPTER 7: MEDICAL PROFESSIONAL LIABILITY INSURANCE MARKET, BY APPLICATION
- 7.1 Overview
- 7.1.1 Market size and forecast
- 7.2 Individual
- 7.2.1 Key market trends, growth factors and opportunities
- 7.2.2 Market size and forecast, by region
- 7.2.3 Market analysis by country
- 7.3 Commercial
- 7.3.1 Key market trends, growth factors and opportunities
- 7.3.2 Market size and forecast, by region
- 7.3.3 Market analysis by country
- 7.3.4 Commercial Medical Professional Liability Insurance Market by Commercial
- 7.3.4.1 Private Hospital Market size and forecast, by region
- 7.3.4.2 Private Hospital Market size and forecast, by country
- 7.3.4.3 Public Hospital Market size and forecast, by region
- 7.3.4.4 Public Hospital Market size and forecast, by country
CHAPTER 8: MEDICAL PROFESSIONAL LIABILITY INSURANCE MARKET, BY DISTRIBUTION CHANNEL
- 8.1 Overview
- 8.1.1 Market size and forecast
- 8.2 Agents and Brokers
- 8.2.1 Key market trends, growth factors and opportunities
- 8.2.2 Market size and forecast, by region
- 8.2.3 Market analysis by country
- 8.3 Direct Response
- 8.3.1 Key market trends, growth factors and opportunities
- 8.3.2 Market size and forecast, by region
- 8.3.3 Market analysis by country
- 8.4 Banks
- 8.4.1 Key market trends, growth factors and opportunities
- 8.4.2 Market size and forecast, by region
- 8.4.3 Market analysis by country
- 8.5 Others
- 8.5.1 Key market trends, growth factors and opportunities
- 8.5.2 Market size and forecast, by region
- 8.5.3 Market analysis by country
CHAPTER 9: MEDICAL PROFESSIONAL LIABILITY INSURANCE MARKET, BY REGION
- 9.1 Overview
- 9.1.1 Market size and forecast
- 9.2 North America
- 9.2.1 Key trends and opportunities
- 9.2.2 North America Market size and forecast, by Type
- 9.2.3 North America Market size and forecast, by Claim Type
- 9.2.4 North America Market size and forecast, by Coverage
- 9.2.5 North America Market size and forecast, by Application
- 9.2.5.1 North America Commercial Medical Professional Liability Insurance Market by Commercial
- 9.2.6 North America Market size and forecast, by Distribution Channel
- 9.2.7 North America Market size and forecast, by country
- 9.2.7.1 U.S.
- 9.2.7.1.1 Market size and forecast, by Type
- 9.2.7.1.2 Market size and forecast, by Claim Type
- 9.2.7.1.3 Market size and forecast, by Coverage
- 9.2.7.1.4 Market size and forecast, by Application
- 9.2.7.1.4.1 U.S. Commercial Medical Professional Liability Insurance Market by Commercial
- 9.2.7.1.5 Market size and forecast, by Distribution Channel
- 9.2.7.2 Canada
- 9.2.7.2.1 Market size and forecast, by Type
- 9.2.7.2.2 Market size and forecast, by Claim Type
- 9.2.7.2.3 Market size and forecast, by Coverage
- 9.2.7.2.4 Market size and forecast, by Application
- 9.2.7.2.4.1 Canada Commercial Medical Professional Liability Insurance Market by Commercial
- 9.2.7.2.5 Market size and forecast, by Distribution Channel
- 9.3 Europe
- 9.3.1 Key trends and opportunities
- 9.3.2 Europe Market size and forecast, by Type
- 9.3.3 Europe Market size and forecast, by Claim Type
- 9.3.4 Europe Market size and forecast, by Coverage
- 9.3.5 Europe Market size and forecast, by Application
- 9.3.5.1 Europe Commercial Medical Professional Liability Insurance Market by Commercial
- 9.3.6 Europe Market size and forecast, by Distribution Channel
- 9.3.7 Europe Market size and forecast, by country
- 9.3.7.1 UK
- 9.3.7.1.1 Market size and forecast, by Type
- 9.3.7.1.2 Market size and forecast, by Claim Type
- 9.3.7.1.3 Market size and forecast, by Coverage
- 9.3.7.1.4 Market size and forecast, by Application
- 9.3.7.1.4.1 UK Commercial Medical Professional Liability Insurance Market by Commercial
- 9.3.7.1.5 Market size and forecast, by Distribution Channel
- 9.3.7.2 Germany
- 9.3.7.2.1 Market size and forecast, by Type
- 9.3.7.2.2 Market size and forecast, by Claim Type
- 9.3.7.2.3 Market size and forecast, by Coverage
- 9.3.7.2.4 Market size and forecast, by Application
- 9.3.7.2.4.1 Germany Commercial Medical Professional Liability Insurance Market by Commercial
- 9.3.7.2.5 Market size and forecast, by Distribution Channel
- 9.3.7.3 France
- 9.3.7.3.1 Market size and forecast, by Type
- 9.3.7.3.2 Market size and forecast, by Claim Type
- 9.3.7.3.3 Market size and forecast, by Coverage
- 9.3.7.3.4 Market size and forecast, by Application
- 9.3.7.3.4.1 France Commercial Medical Professional Liability Insurance Market by Commercial
- 9.3.7.3.5 Market size and forecast, by Distribution Channel
- 9.3.7.4 Italy
- 9.3.7.4.1 Market size and forecast, by Type
- 9.3.7.4.2 Market size and forecast, by Claim Type
- 9.3.7.4.3 Market size and forecast, by Coverage
- 9.3.7.4.4 Market size and forecast, by Application
- 9.3.7.4.4.1 Italy Commercial Medical Professional Liability Insurance Market by Commercial
- 9.3.7.4.5 Market size and forecast, by Distribution Channel
- 9.3.7.5 Spain
- 9.3.7.5.1 Market size and forecast, by Type
- 9.3.7.5.2 Market size and forecast, by Claim Type
- 9.3.7.5.3 Market size and forecast, by Coverage
- 9.3.7.5.4 Market size and forecast, by Application
- 9.3.7.5.4.1 Spain Commercial Medical Professional Liability Insurance Market by Commercial
- 9.3.7.5.5 Market size and forecast, by Distribution Channel
- 9.3.7.6 Netherlands
- 9.3.7.6.1 Market size and forecast, by Type
- 9.3.7.6.2 Market size and forecast, by Claim Type
- 9.3.7.6.3 Market size and forecast, by Coverage
- 9.3.7.6.4 Market size and forecast, by Application
- 9.3.7.6.4.1 Netherlands Commercial Medical Professional Liability Insurance Market by Commercial
- 9.3.7.6.5 Market size and forecast, by Distribution Channel
- 9.3.7.7 Rest of Europe
- 9.3.7.7.1 Market size and forecast, by Type
- 9.3.7.7.2 Market size and forecast, by Claim Type
- 9.3.7.7.3 Market size and forecast, by Coverage
- 9.3.7.7.4 Market size and forecast, by Application
- 9.3.7.7.4.1 Rest of Europe Commercial Medical Professional Liability Insurance Market by Commercial
- 9.3.7.7.5 Market size and forecast, by Distribution Channel
- 9.4 Asia-Pacific
- 9.4.1 Key trends and opportunities
- 9.4.2 Asia-Pacific Market size and forecast, by Type
- 9.4.3 Asia-Pacific Market size and forecast, by Claim Type
- 9.4.4 Asia-Pacific Market size and forecast, by Coverage
- 9.4.5 Asia-Pacific Market size and forecast, by Application
- 9.4.5.1 Asia-Pacific Commercial Medical Professional Liability Insurance Market by Commercial
- 9.4.6 Asia-Pacific Market size and forecast, by Distribution Channel
- 9.4.7 Asia-Pacific Market size and forecast, by country
- 9.4.7.1 China
- 9.4.7.1.1 Market size and forecast, by Type
- 9.4.7.1.2 Market size and forecast, by Claim Type
- 9.4.7.1.3 Market size and forecast, by Coverage
- 9.4.7.1.4 Market size and forecast, by Application
- 9.4.7.1.4.1 China Commercial Medical Professional Liability Insurance Market by Commercial
- 9.4.7.1.5 Market size and forecast, by Distribution Channel
- 9.4.7.2 Japan
- 9.4.7.2.1 Market size and forecast, by Type
- 9.4.7.2.2 Market size and forecast, by Claim Type
- 9.4.7.2.3 Market size and forecast, by Coverage
- 9.4.7.2.4 Market size and forecast, by Application
- 9.4.7.2.4.1 Japan Commercial Medical Professional Liability Insurance Market by Commercial
- 9.4.7.2.5 Market size and forecast, by Distribution Channel
- 9.4.7.3 India
- 9.4.7.3.1 Market size and forecast, by Type
- 9.4.7.3.2 Market size and forecast, by Claim Type
- 9.4.7.3.3 Market size and forecast, by Coverage
- 9.4.7.3.4 Market size and forecast, by Application
- 9.4.7.3.4.1 India Commercial Medical Professional Liability Insurance Market by Commercial
- 9.4.7.3.5 Market size and forecast, by Distribution Channel
- 9.4.7.4 Australia
- 9.4.7.4.1 Market size and forecast, by Type
- 9.4.7.4.2 Market size and forecast, by Claim Type
- 9.4.7.4.3 Market size and forecast, by Coverage
- 9.4.7.4.4 Market size and forecast, by Application
- 9.4.7.4.4.1 Australia Commercial Medical Professional Liability Insurance Market by Commercial
- 9.4.7.4.5 Market size and forecast, by Distribution Channel
- 9.4.7.5 South Korea
- 9.4.7.5.1 Market size and forecast, by Type
- 9.4.7.5.2 Market size and forecast, by Claim Type
- 9.4.7.5.3 Market size and forecast, by Coverage
- 9.4.7.5.4 Market size and forecast, by Application
- 9.4.7.5.4.1 South Korea Commercial Medical Professional Liability Insurance Market by Commercial
- 9.4.7.5.5 Market size and forecast, by Distribution Channel
- 9.4.7.6 Singapore
- 9.4.7.6.1 Market size and forecast, by Type
- 9.4.7.6.2 Market size and forecast, by Claim Type
- 9.4.7.6.3 Market size and forecast, by Coverage
- 9.4.7.6.4 Market size and forecast, by Application
- 9.4.7.6.4.1 Singapore Commercial Medical Professional Liability Insurance Market by Commercial
- 9.4.7.6.5 Market size and forecast, by Distribution Channel
- 9.4.7.7 Rest of Asia-Pacific
- 9.4.7.7.1 Market size and forecast, by Type
- 9.4.7.7.2 Market size and forecast, by Claim Type
- 9.4.7.7.3 Market size and forecast, by Coverage
- 9.4.7.7.4 Market size and forecast, by Application
- 9.4.7.7.4.1 Rest of Asia-Pacific Commercial Medical Professional Liability Insurance Market by Commercial
- 9.4.7.7.5 Market size and forecast, by Distribution Channel
- 9.5 LAMEA
- 9.5.1 Key trends and opportunities
- 9.5.2 LAMEA Market size and forecast, by Type
- 9.5.3 LAMEA Market size and forecast, by Claim Type
- 9.5.4 LAMEA Market size and forecast, by Coverage
- 9.5.5 LAMEA Market size and forecast, by Application
- 9.5.5.1 LAMEA Commercial Medical Professional Liability Insurance Market by Commercial
- 9.5.6 LAMEA Market size and forecast, by Distribution Channel
- 9.5.7 LAMEA Market size and forecast, by country
- 9.5.7.1 Latin America
- 9.5.7.1.1 Market size and forecast, by Type
- 9.5.7.1.2 Market size and forecast, by Claim Type
- 9.5.7.1.3 Market size and forecast, by Coverage
- 9.5.7.1.4 Market size and forecast, by Application
- 9.5.7.1.4.1 Latin America Commercial Medical Professional Liability Insurance Market by Commercial
- 9.5.7.1.5 Market size and forecast, by Distribution Channel
- 9.5.7.2 Middle East
- 9.5.7.2.1 Market size and forecast, by Type
- 9.5.7.2.2 Market size and forecast, by Claim Type
- 9.5.7.2.3 Market size and forecast, by Coverage
- 9.5.7.2.4 Market size and forecast, by Application
- 9.5.7.2.4.1 Middle East Commercial Medical Professional Liability Insurance Market by Commercial
- 9.5.7.2.5 Market size and forecast, by Distribution Channel
- 9.5.7.3 Africa
- 9.5.7.3.1 Market size and forecast, by Type
- 9.5.7.3.2 Market size and forecast, by Claim Type
- 9.5.7.3.3 Market size and forecast, by Coverage
- 9.5.7.3.4 Market size and forecast, by Application
- 9.5.7.3.4.1 Africa Commercial Medical Professional Liability Insurance Market by Commercial
- 9.5.7.3.5 Market size and forecast, by Distribution Channel
CHAPTER 10: COMPANY LANDSCAPE
- 10.1. Introduction
- 10.2. Top winning strategies
- 10.3. Product Mapping of Top 10 Player
- 10.4. Competitive Dashboard
- 10.5. Competitive Heatmap
- 10.6. Key developments
CHAPTER 11: COMPANY PROFILES
- 11.1 Allianz
- 11.1.1 Company overview
- 11.1.2 Company snapshot
- 11.1.3 Operating business segments
- 11.1.4 Product portfolio
- 11.1.5 Business performance
- 11.1.6 Key strategic moves and developments
- 11.2 Aviva
- 11.2.1 Company overview
- 11.2.2 Company snapshot
- 11.2.3 Operating business segments
- 11.2.4 Product portfolio
- 11.2.5 Business performance
- 11.2.6 Key strategic moves and developments
- 11.3 AXA
- 11.3.1 Company overview
- 11.3.2 Company snapshot
- 11.3.3 Operating business segments
- 11.3.4 Product portfolio
- 11.3.5 Business performance
- 11.3.6 Key strategic moves and developments
- 11.4 Berkshire Hathaway Specialty Insurance
- 11.4.1 Company overview
- 11.4.2 Company snapshot
- 11.4.3 Operating business segments
- 11.4.4 Product portfolio
- 11.4.5 Business performance
- 11.4.6 Key strategic moves and developments
- 11.5 Chubb
- 11.5.1 Company overview
- 11.5.2 Company snapshot
- 11.5.3 Operating business segments
- 11.5.4 Product portfolio
- 11.5.5 Business performance
- 11.5.6 Key strategic moves and developments
- 11.6 Cigna
- 11.6.1 Company overview
- 11.6.2 Company snapshot
- 11.6.3 Operating business segments
- 11.6.4 Product portfolio
- 11.6.5 Business performance
- 11.6.6 Key strategic moves and developments
- 11.7 CoverWallet
- 11.7.1 Company overview
- 11.7.2 Company snapshot
- 11.7.3 Operating business segments
- 11.7.4 Product portfolio
- 11.7.5 Business performance
- 11.7.6 Key strategic moves and developments
- 11.8 Coverys
- 11.8.1 Company overview
- 11.8.2 Company snapshot
- 11.8.3 Operating business segments
- 11.8.4 Product portfolio
- 11.8.5 Business performance
- 11.8.6 Key strategic moves and developments
- 11.9 Liberty Mutual Group
- 11.9.1 Company overview
- 11.9.2 Company snapshot
- 11.9.3 Operating business segments
- 11.9.4 Product portfolio
- 11.9.5 Business performance
- 11.9.6 Key strategic moves and developments
- 11.10 MagMutual LLC
- 11.10.1 Company overview
- 11.10.2 Company snapshot
- 11.10.3 Operating business segments
- 11.10.4 Product portfolio
- 11.10.5 Business performance
- 11.10.6 Key strategic moves and developments
- 11.11 MCIC Vermont
- 11.11.1 Company overview
- 11.11.2 Company snapshot
- 11.11.3 Operating business segments
- 11.11.4 Product portfolio
- 11.11.5 Business performance
- 11.11.6 Key strategic moves and developments
- 11.12 ProAssurance Corporation
- 11.12.1 Company overview
- 11.12.2 Company snapshot
- 11.12.3 Operating business segments
- 11.12.4 Product portfolio
- 11.12.5 Business performance
- 11.12.6 Key strategic moves and developments
- 11.13 The Doctors Company
- 11.13.1 Company overview
- 11.13.2 Company snapshot
- 11.13.3 Operating business segments
- 11.13.4 Product portfolio
- 11.13.5 Business performance
- 11.13.6 Key strategic moves and developments
- 11.14 The Hartford
- 11.14.1 Company overview
- 11.14.2 Company snapshot
- 11.14.3 Operating business segments
- 11.14.4 Product portfolio
- 11.14.5 Business performance
- 11.14.6 Key strategic moves and developments
- 11.15 Zurich
- 11.15.1 Company overview
- 11.15.2 Company snapshot
- 11.15.3 Operating business segments
- 11.15.4 Product portfolio
- 11.15.5 Business performance
- 11.15.6 Key strategic moves and developments
- 11.16 The Travelers Indemnity Company
- 11.16.1 Company overview
- 11.16.2 Company snapshot
- 11.16.3 Operating business segments
- 11.16.4 Product portfolio
- 11.16.5 Business performance
- 11.16.6 Key strategic moves and developments
- 11.17 CNA
- 11.17.1 Company overview
- 11.17.2 Company snapshot
- 11.17.3 Operating business segments
- 11.17.4 Product portfolio
- 11.17.5 Business performance
- 11.17.6 Key strategic moves and developments