Companies shopping in the $237 billion U.S. commercial-insurance market are purchasing liability products more than any other type of coverage, a recent study shows.
In its latest sigma study, titled "Insuring Ever-Evolving Commercial Risks," Swiss Re notes that corporate-insurance demand varies by company size and industry, but overall, premiums for liability coverages averaged $1.75 per every $1,000 in revenue for companies across nine industries in 2010, more than any other commercial coverage.
The services industry spent the most on liability — $4.15 spent on premiums per every $1000 in revenue. This finding supports Swiss Re's contention in the report that insurance demand in advanced-market economies is shifting toward liability coverages as services sectors expand at the expense of manufacturing.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.