Property, Casualty and Direct Insurance in Florida
Operators in the Property, Casualty and Direct Insurance industry in Florida provide consumers and businesses with protection in case of a variety of events including, but is not limited to, car accidents, natural catastrophes, work-place injuries and medical malpractice. By underwriting an array of similar insurance policies, industry operators can effectively minimize their risk by spreading the risk over the pool of premiums. This makes the industry a vital part of the larger economy's risk management. Over the five years to 2017, industry revenue in Florida is expected to increase. Industry revenue growth can be attributed to a hardening premium price cycle as industry operators looked to bolster their excess reserves and improve profit margins. Furthermore, industry revenue grew over the period as a result of investments in various asset classes benefiting from bull markets.
Operators in this industry are primarily engaged in underwriting insurance policies that protect individuals, businesses and agencies against losses that occur as a result of property damage, liability or other risks. Industry participants also protect real estate owners or creditors against losses sustained as a result of any title defect to real property. This industry does not include insurance coverage for life, disability, accidental death, dismemberment or health risks.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.