About Inland Marine Insurance
Inland Marine Insurance is a form of property insurance that covers goods, tools, equipment, and other property that is not tied to a fixed location and is not covered by a standard commercial property policy. Inland Marine Insurance provides coverage for a variety of property, including merchandise ship by truck to a customer, equipment used by construction contractors, musical instruments, photography equipment, fine art, and more. Inland Marine Insurance provides broad coverage for property that helps fill the gap in coverage left by standard commercial property policies.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Inland Marine Insurance market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
CPIC (China), Liberty Mutual (United States), Hartford (United States), Great American Insurance Group (United States), Chubb (United States), Nationwide (United States), Jewelers Mutual (United States), Allstate (United States), AXA (France), Allianz (Germany), AIG (United States), The Travelers Companies (United States), Statefarm (United States), RLI Corp. (United States) and Allianz (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Brunswick Companies (United States).
Segmentation Overview
AMA Research has segmented the market of Global Inland Marine Insurance market by Type (Shipping and Transit, Bailee’s Customer Coverage, Movable Equipment or Property, Builder’s Risk and Others) and Region.
On the basis of geography, the market of Inland Marine Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Contractors will boost the Inland Marine Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Coverage Type, the sub-segment i.e. Theft will boost the Inland Marine Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Providers, the sub-segment i.e. Companies will boost the Inland Marine Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Growing Natural Disasters across the Globe, The Growing Shipping and Transportation Goods Risk Driving the Adoption of Inland Marine Insurance, The Rising Risk in the Businesses Fuelling the Inland Marine Insurance Industry and Inland Marine Exposures Rank among the Most Volatile Of Property Exposures, With Risk Profiles Changing From Day To Day
Restraints:
Lack of Awareness among the Business about Inland Marine Insurance Coverage
Opportunities:
Ongoing Growth in the Construction and Freight Industries Is Expected to Open Lucrative Opportunities for the Market during the Projected Period
On 8 April 2019, AXA XL's North America marine insurance business is continuing to push the frontiers of inland marine coverage with a new contractor's equipment product. New product represents the expansion of the company’s risk appetite and underwriting expertise.
Key Target Audience
Inland Marine Insurance Companies, Inland Marine Insurance Brokers/Agents, Regulatory & Government Bodies, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.