Market Overview:
The global CPA liability insurance market is expected to grow from USD 1.5 billion in 2018 to USD 2.8 billion by 2030, at a CAGR of 7.5% during the forecast period. The growth of the market can be attributed to the increasing demand for coverage against professional liabilities arising out of negligence or errors and omissions (E&O) on the part of CPAs. Additionally, the rising awareness about D&O insurance among professionals is also contributing to the growth of this market.
Product Definition:
CPA liability insurance is a type of professional liability insurance that provides coverage for CPAs in the event that they are sued for malpractice. This type of insurance is important because it can help protect CPAs from costly legal expenses in the event that they are sued for malpractice.
D&O Insurance:
D&O insurance is an insurance policy that covers the professional liability and malpractice claims made against accountants, lawyers, engineers and other such professionals. The main objective of this type of insurance is to protect the company from legal actions in case a covered person causes damage to a company by engaging in unethical practices or violating rules & regulations. D&O also provides protection against financial losses incurred due to any fraudulent or unprofessional conduct by employees or former employees.
E&O Insurance:
An E&O insurance is an insurance policy that protects the CPA firm from losses incurred due to fraudulent or illegal acts by its employees. The main objective of this policy is to reimburse the firm for expenses incurred in defense against any legal action taken against it on account of the actions (if any) by its employees which are considered fraudulent or unethical.
Application Insights:
The market is segmented on the basis of application into coverage: up to million, coverage: million to million, coverage: Million to 20 Million and over Million. The Coversation: Up To-Million segment held a major share in 2016 owing to the fact that it offers limited scope for claims and hence is widely preferred by many companies as an introductory package. Companies are generally selective in choosing which policy they should take based on their level of risk exposure. This has resulted in a high demand for global CPA liability insurance policies with lower limits than other segments such as Coverage -Million To-Million or Coverage-Over-Million.
Regional Analysis:
Asia Pacific dominated the global market in 2017. The region is expected to continue its dominance over the forecast period as well, owing to factors such as increasing penetration of CPA firms and rising demand for risk management services from companies operating across various industries. Furthermore, growing awareness regarding CPA policies among businesses and their dependence on account of financial results are expected to drive the regional market further.
The Asia Pacific was followed by Europe in terms of growth rate during the forecast period. The European market is anticipated to grow at a significant rate over the next eight years due to several factors such as regulatory reforms that have paved way for alternative business structures and growth opportunities offered by new markets emerging from crisis situations across countries including Spain, Italy, Greece etc.
Growth Factors:
- Increasing demand from small and medium-sized businesses for CPA liability insurance to protect them from potential financial losses in the event of an audit failure.
- The increasing number of accounting scandals and bankruptcies, which has led to a heightened awareness among businesses of the importance of protecting themselves against potential financial losses through CPA liability insurance.
- The growing popularity of outsourcing by businesses, which has led to an increase in the number of CPAs being hired by companies to provide services such as auditing and tax consulting. This increased demand for CPAs is also driving growth in the CPA liability insurance market.
- The increasing complexity of business regulations and standards, which is making it more difficult for businesses to comply with accounting rules without professional assistance, leading them to purchase CPA liability insurance policies as a way to mitigate their risk exposure. 5)The continued growth in global trade and cross-border business transactions, which is creating new opportunities for CPAs providing assurance services related thereto, thereby contributing to market growth
Scope Of The Report
Report Attributes
Report Details
Report Title
CPA Liability Insurance Market Research Report
By Type
D&O Insurance, E&O Insurance
By Application
Coverage: Up to $1 Million, Coverage: $1 Million to $5 Million, Coverage: $5 Million to $20 Million, Coverage: Over $20 Million
By Companies
Chubb (ACE), AIG, Hiscox, Allianz, Tokio Marine Holdings, XL Group, AXA, Travelers, Assicurazioni Generali, Doctors Company, Marsh & McLennan, Liberty Mutual, Medical Protective, Aviva, Zurich, Sompo Japan Nipponkoa, Munich Re, Aon, Beazley, Mapfre, Old Republic Insurance Company
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
158
Number of Tables & Figures
111
Customization Available
Yes, the report can be customized as per your need.
Global CPA Liability Insurance Market Report Segments:
The global CPA Liability Insurance market is segmented on the basis of:
Types
D&O Insurance, E&O Insurance
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Coverage: Up to $1 Million, Coverage: $1 Million to $5 Million, Coverage: $5 Million to $20 Million, Coverage: Over $20 Million
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Chubb (ACE)
- AIG
- Hiscox
- Allianz
- Tokio Marine Holdings
- XL Group
- AXA
- Travelers
- Assicurazioni Generali
- Doctors Company
- Marsh & McLennan
- Liberty Mutual
- Medical Protective
- Aviva
- Zurich
- Sompo Japan Nipponkoa
- Munich Re
- Aon
- Beazley
- Mapfre
- Old Republic Insurance Company
Highlights of The CPA Liability Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- D&O Insurance
- E&O Insurance
- By Application:
- Coverage: Up to $1 Million
- Coverage: $1 Million to $5 Million
- Coverage: $5 Million to $20 Million
- Coverage: Over $20 Million
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the CPA Liability Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
CPA liability insurance is a type of insurance that protects CPAs from personal financial losses arising out of professional negligence. This coverage can help protect CPAs from lawsuits, fines, and other costs associated with legal action.
Some of the major companies in the cpa liability insurance market are Chubb (ACE), AIG, Hiscox, Allianz, Tokio Marine Holdings, XL Group, AXA, Travelers, Assicurazioni Generali, Doctors Company, Marsh & McLennan, Liberty Mutual, Medical Protective, Aviva, Zurich, Sompo Japan Nipponkoa, Munich Re, Aon, Beazley, Mapfre, Old Republic Insurance Company.
The cpa liability insurance market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 CPA Liability Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 CPA Liability Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 CPA Liability Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the CPA Liability Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global CPA Liability Insurance Market Size & Forecast, 2020-2028
4.5.1 CPA Liability Insurance Market Size and Y-o-Y Growth
4.5.2 CPA Liability Insurance Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 D&O Insurance
5.2.2 E&O Insurance
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Coverage: Up to $1 Million
6.2.2 Coverage: $1 Million to $5 Million
6.2.3 Coverage: $5 Million to $20 Million
6.2.4 Coverage: Over $20 Million
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global CPA Liability Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 CPA Liability Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 D&O Insurance
9.6.2 E&O Insurance
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Coverage: Up to $1 Million
9.10.2 Coverage: $1 Million to $5 Million
9.10.3 Coverage: $5 Million to $20 Million
9.10.4 Coverage: Over $20 Million
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 D&O Insurance
10.6.2 E&O Insurance
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Coverage: Up to $1 Million
10.10.2 Coverage: $1 Million to $5 Million
10.10.3 Coverage: $5 Million to $20 Million
10.10.4 Coverage: Over $20 Million
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 D&O Insurance
11.6.2 E&O Insurance
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Coverage: Up to $1 Million
11.10.2 Coverage: $1 Million to $5 Million
11.10.3 Coverage: $5 Million to $20 Million
11.10.4 Coverage: Over $20 Million
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 D&O Insurance
12.6.2 E&O Insurance
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Coverage: Up to $1 Million
12.10.2 Coverage: $1 Million to $5 Million
12.10.3 Coverage: $5 Million to $20 Million
12.10.4 Coverage: Over $20 Million
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 D&O Insurance
13.6.2 E&O Insurance
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Coverage: Up to $1 Million
13.10.2 Coverage: $1 Million to $5 Million
13.10.3 Coverage: $5 Million to $20 Million
13.10.4 Coverage: Over $20 Million
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 CPA Liability Insurance Market: Competitive Dashboard
14.2 Global CPA Liability Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Chubb (ACE)
14.3.2 AIG
14.3.3 Hiscox
14.3.4 Allianz
14.3.5 Tokio Marine Holdings
14.3.6 XL Group
14.3.7 AXA
14.3.8 Travelers
14.3.9 Assicurazioni Generali
14.3.10 Doctors Company
14.3.11 Marsh & McLennan
14.3.12 Liberty Mutual
14.3.13 Medical Protective
14.3.14 Aviva
14.3.15 Zurich
14.3.16 Sompo Japan Nipponkoa
14.3.17 Munich Re
14.3.18 Aon
14.3.19 Beazley
14.3.20 Mapfre
14.3.21 Old Republic Insurance Company
