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市場調查報告書

公司員工第三責任險 (D&O保險) 的英國市場

D&O Insurance in the UK

出版商 Finaccord Ltd. 商品編碼 327682
出版日期 內容資訊 英文 24 Pages
商品交期: 最快1-2個工作天內
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公司員工第三責任險 (D&O保險) 的英國市場 D&O Insurance in the UK
出版日期: 2014年12月01日 內容資訊: 英文 24 Pages
簡介

本報告提供英國的公司員工第三責任險 (D&O保險) 的市場相關分析、整體市場結構和趨勢 (過去、今後5年份)、企業的各類型 (上市公司/非上市公司/其他) 、各行業 (金融機關/其他 (製造業、一級產業等)) 、各保險種類 (國內/國外的承銷商) 的詳細趨勢、主要保險企業/承銷商/仲介的市場佔有率、普及率、保險申請額趨勢、競爭情形等調查、考察。

摘要整理

第1章 簡介

  • 關於本報告
  • 合理性根據
  • 調查手法
  • 定義
  • Finaccord

第2章 市場分析

  • 簡介
  • 法規的背景
  • 保險企業數量
  • 市場規模、成長率、分類
  • 普及水準
  • 承銷商的市場佔有率及專門領域
  • 索賠的趨勢與主要的風險
  • 未來展望

第3章 附錄

  • 參加調查的仲介及保險公司

圖表一覽

目錄

D&O Insurance in the UK is about the market for directors' and officers' liability cover in the UK. In addition to documenting the development of the market value from 2010 to 2014, the report also divides it for the most recent year for three key segmentations: between publicly listed corporate enterprises, unlisted corporate enterprises and other entities (e.g. non-incorporated businesses and the not-for-profit sector); between the financial services sector, the non-financial services sector and the manufacturing / primary sector; and between underwriters based in the UK itself and underwriters located outside of it.

These unique market splits are based in part on a survey of leading brokers and underwriters of D&O insurance in the UK. This same survey also identifies the underwriters of this type of cover used by brokers on a regular basis, gives an input into Finaccord's estimates for the market shares of underwriters of D&O insurance, provides a basis for commentary surrounding distribution channels used for this type of cover, informs observations concerning trends in claims by type of insured entity, and guides Finaccord's forecasts for the market value through to 2018.

You may be able to use this report plus the accompanying market data annexe in one or more of the following ways:

  • to gain access to data showing the size, growth rate and future prospects of the D&O insurance market in the UK;
  • to appreciate how much of the market value is attributable to publicly listed corporate enterprises (as opposed to non-listed corporate enterprises and other entities) and how much to financial institutions (as opposed to the non-financial services and primary / manufacturing sectors);
  • to understand how much of the market value is insured by underwriters in the UK itself and how much by underwriters elsewhere (e.g. at Lloyd's of London);
  • to evaluate the potential for your organisation to increase its share of D&O insurance broking or underwriting in the UK;
  • to comprehend the competitive environment for underwriting and the degree to which brokers display interest in placing risks with alternative underwriters.

Table of Contents

0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

  • What is this report about?
  • Rationale
    • Several factors underpin the rationale for the production of a study about D&O insurance
  • Methodology
    • Research program
    • Market data analysis
  • Definitions
    • D&O insurance
      • Policies are usually taken out by companies rather than by company managers nd typically pay for both defence costs and the damages paid to the claimant
      • D&O insurance can be bought by a variety of different types of entity
      • In Europe, policies typically incorporate Side A and Side B cover but not always Side C cover
      • Stand-alone cover bought for certain specialised risks is excluded from the definition of D&O insurance
    • Premiums
    • Sectors
    • Abbreviations
    • Exchange rates
  • Finaccord

2.0 MARKET ANALYSIS

  • Introduction
  • Regulatory background
    • There are two main types of corporate entity of interest in the context of management liability although the introduction of limited liability partnerships created a third
    • Company law in the UK is defined mainly by the Companies Act of 2006
    • The UK Corporate Governance Code is also significant in the context of D&O insurance
    • The normal limitation period for breach of fiduciary duty is six years
    • Minority shareholders can bring claims on behalf of the company
    • Costs related to official investigations are an important trigger for D&O claims in the UK
  • Number of insurable entities
    • There has been some growth in the number of publicly listed corporate enterprises since 2010 but much more among unlisted companies with substantial annual revenues
    • The number of limited liability partnerships in the UK has now reached a substantial level
  • Market value, growth and segmentation
    • The value of the UK D&O insurance market is likely to have broken through GBP 500 million in 2014 and has been rising as a proportion of the wider general liability insurance sector but relatively low insolvency-related claims among SMEs have limited growth in the market value as has competition among underwriters, especially for non-financial accounts
    • A comparatively high proportion of D&O premiums in the UK is attributable to publicly listed companies and financial institutions account for the lion's share of the total market value
  • Penetration levels
    • A small percentage of publicly listed enterprises has yet to take out D&O cover and a much larger percentage of unlisted ones with sufficient revenues to make them core targets
  • Underwriter market shares and specialisms
    • At least 30 underwriters of D&O insurance compete in the broker channel in the UK although three are likely to hold more than a half of the market value between them
    • Chubb's 'MASTERPLUS' policy is especially popular among privately held companies
    • Beyond the top seven underwriters, the UK market structure appears to fragment rapidly
    • Key brokers and broker specialisms
    • AXA, DUAL and W.R. Berkley have all introduced online quotation systems for D&O insurance
    • The leading brokers of D&O cover in the UK are mainly the leading brokers of commercial lines in general
  • Trends in claims and key risks
    • D&O insurance in the UK is profitable and has not seen any great increase in the value of claims paid in spite of concerns in certain sectors, especially large banking institutions
    • Middle market financial institutions are considered to be relatively sound risks
    • Enforcement of regulations is a primary driver of claims in UK D&O insurance
    • Defence costs are likely to account for over three quarters of the value of all D&O claims paid in the UK
  • Future outlook
    • The value of the market is predicted to grow in both nominal and real terms up to 2018 but first-time buyers will not influence this greatly as these are mainly smaller organisations

3.0 APPENDIX

  • Brokers and insurers participating in the survey

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY

  • Key market data for D&O insurance in the UK

1.0 INTRODUCTION

2.0 MARKET ANALYSIS

  • Number of insurable entities segmented by legal structure, size and sector in the UK, 2014
  • Premiums for D&O insurance and the percentage of the total general liability insurance market that this represents in the UK, 2010 and 2014
  • Segmentation of D&O insurance premiums in the UK between publicly listed corporate enterprises, unlisted corporate enterprises and other organisations, 2014
  • Segmentation of D&O insurance premiums in the UK between the financial services sector, the nonfinancial services sector and the manufacturing / primary sector, 2014
  • Ratio of D&O insurance premiums to gross value added in the financial services sector, the non-financial services sector and the manufacturing / primary sector in the UK, 2014 (table)
  • Ratio of D&O insurance premiums to gross value added in the financial services sector, the non-financial services sector and the manufacturing / primary sector in the UK, 2014
  • Segmentation of D&O insurance premiums in the UK between underwriters based in the UK and underwriters based abroad, 2014
  • Proportion of publicly listed corporate enterprises and unlisted corporate enterprises with revenues above EUR 10 million with D&O insurance in the UK, 2014
  • Frequency of usage of specific insurance underwriters by major brokers of D&O insurance in the UK, 2014
  • Estimated market shares of D&O insurance premiums of underwriters in the UK, 2014
  • Segmentation of claims costs between defence costs and other claims costs in the UK in a typical year 22
  • Forecast premiums for D&O insurance in the UK, 2018

3.0 APPENDIX

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