Earthquake insurance is the property insurance which pays the policyholder in the event of earthquake damage. It features a high deductible, which makes the earthquake insurance useful if the entire home is destroyed, but not useful if the home is merely damaged.
Edison, NJ -- (SBWIRE) -- 06/01/2021 -- The premium may vary depending on the material used in homes such as wood, location, and the probability of earthquake. After a sizeable earthquake has occurred the insurance companies stop selling the coverage for few weeks. Various government regulations in different countries is increasing the demand for earthquake insurance.
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The players profiled in the Earthquake Insurance market include:
Farmers insurance group (United States)
Allstate (United States)
State Farm (United States)
Liberty Mutual (United States)
Nationwide (United States)
USAA (United States)
Safeco (United States)
Mapfre (Spain)
GeoVera (United States)
Munich Re (Germany)
Earthquake Insurance Segmentation :
by Type (Life Insurance, Non-Life Insurance), End users (Personal, Commercial), Coverage (Dwelling coverage, Personal property coverage, Additional living expenses), Distribution channel (Online, Insurance Broker)
Market Trends
- Property Insurance are Now Made to Compensate an Insured for the Financial Impact
Drivers
- Increasing Prevalence of Natural Disasters
- Benefits Such as Personal Property Coverage is Fuelling the Market Growth
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Challenges
- Lack of Awareness about the Earthquake Insurance
- High Risk Associated with the Insurance
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Opportunities
- Increasing Per capita Income
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Competitive Analysis:
The Earthquake Insurance market examines the competition by highlighting the leading industry players including crucial information, such as company profile, financial information, services offered, recent improvements in products, and key components. The report studies strengths and weaknesses of these players and presents details on several strategies adopted by them. The common strategies adopted by the Earthquake Insurance market players include mergers and acquisition, partnerships, new product development, product promotions, and technological improvements.
Regulatory Factors
Market Insights
On 24th July 2019, Convey has launched technology marketplace which is a technology referral service for property and casualty insurance agencies. This helps in reduction of costs, increase operational efficiency, and take advantage of cloud based solutions
Furthermore, the years considered for the study are as follows:
Historical Years: 2015-2020
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2021-2026
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Table of Content:
Chapter 1: Earthquake Insurance Market Overview
1.1 Scope of Study
1.2 Key Market Categories
1.3 Regional and Country-wise Regulatory Scenario
1.4 Market Investment Description
1.5 Market Study by Type
1.5.1 Global Earthquake Insurance Market Share by Type
1.6 Market by Application
1.6.1 Global Earthquake Insurance Market Share by Application
1.7 Market by Technology
1.7.1 Global Earthquake Insurance Market Share by Technology
1.8 Earthquake Insurance Market Progress Trends under COVID-19 Outbreak
1.8.1 Global COVID-19 Status Summary
1.8.2 Impact of the Novel Coronavirus pandemic on Earthquake Insurance Market Development
Chapter 3: Value Chain of Earthquake Insurance Market
3.1 Value Chain Status
3.2 Earthquake Insurance Manufacturing Pricing Structure Analysis
3.2.1 Production Process Analysis
3.2.2 Manufacturing Cost Structure of Earthquake Insurance
3.2.3 Labor Cost of Earthquake Insurance
3.2.3.1 Labor Cost of Earthquake Insurance during COVID-19 Outbreak
3.3 Marketing and Sales Model Study
3.4 Downstream Major Customer Study (Region-wise)
3.5 Value Chain Landscape during COVID-19 Outbreak
Chapter 4: Industry Players operating in the Earthquake Insurance Market
4.4 Company 1
4.4.1 'Company 1' Basic Information
4.4.2 Earthquake Insurance Product Profiles, Applications and Features
4.4.3 'Company 1' Earthquake Insurance Industry Performance
4.4.4 'Company 1' Business Summary
Updated information on Earthquake Insurance Market:
- The report offers comprehensive outline of regional distributions of key and prominent products in the Earthquake Insurance Market
- The Earthquake Insurance market research report offers developmental plans for businesses involved in the market based on the production cost value and products value, and more for the coming years in order to gain prosperity
- It also provides all-inclusive study on the overall expansion within the Earthquake Insurance Market to decide asset developments, product launch and other associated news
- The report answers how the mid-level producers and major companies earn profit in the Earthquake Insurance Market
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