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Workers' Compensation Insurance in the US - Industry Market Research Report

Publisher IBISWorld
Published Nov 04, 2024
Length 80 Pages
SKU # IBSS19340706

Description

Workers' Compensation Insurance in the US - Industry Market Research Report


Workers' Compensation Insurance in the US

Workers' compensation insurance providers have struggled to recover from the major hit brought on by the COVID-19 pandemic. Interest rates plummeted, decimating the industry's investment portfolio. Soaring unemployment rates amid mass furloughs and the emergence of wide-scale remote work severely cut into demand for workers' comp and pushed down the industry's revenue. The industry was already at a downward point in its pricing cycle, pushing more catastrophic dips in revenue as insurance providers wrestled for control in an overcrowded market. Overal, industry-wide revenue has been dropping at a CAGR of 2.9% over the past five years and is expected to total $55.0 billion in 2023, when revenue will climb by an estimated 1.9%.

This industry underwrites (i.e. assumes the risk and assigns premiums for) workers’ compensation insurance, which protects businesses from liabilities related to injuries at the workplace.

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.

Table of Contents

80 Pages
TABLE OF CONTENTS

ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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