The global commercial insurance market size was US$ 691.6 billion in 2021. The global commercial insurance market is forecast to grow to US$ 1,441.4 billion by 2030 by registering a compound annual growth rate (CAGR) of 9.1% during the forecast period from 2022 to 2030. 
Commercial insurance supports business continuity and helps reduce financial losses for the company. It helps in controlling risk and safeguarding the reputation of business owners, clients, and shareholders.

Factors Influencing the Market
The rising competition between the small & medium-sized (SMEs) enterprises in terms of revenue generation are forecast to fuel the growth of the commercial insurance market during the forecast period.  Moreover, the fact that commercial insurance policies help businesses get protection from injury claims and cyberattacks will also benefit the commercial insurance market during the study period. 
The large pool of commercial insurance providers will significantly contribute to the growth of the market. Apart from that, the growing use of advanced technology in commercial insurance is expected to propel the market forward. Artificial intelligence, machine learning, and predictive analysis can significantly help companies understand and predict business risks and mitigate losses. Thus, it will bring untapped growth opportunities for the commercial insurance market during the forecast period. 
On the flip side, a high insurance cost may limit the growth of the market during the analysis period.

COVID-19 Impact Analysis
The commercial insurance sector is negatively impacted by the COVID-19 outbreak. The market witnessed various challenges, such as a significant shift to remote working across many industry verticals, business interruption, and digitalized underwriting, claims, and administrative processes. The pandemic has affected every sector of the economy. As a result, it led to an increase in fraudulent claim efforts and a lack of IT infrastructure. Thus, it hampered the growth of the global commercial insurance market.

Regional Analysis
The Asia-Pacific commercial insurance market is forecast to record the highest growth rate, owing to the presence of a wide range of commercial insurance providers in China, India, and Japan. Moreover, commercial insurance companies offer efficient strategic risk advice to corporate organizations and board directors. Moreover, it helps business re-establish their corporate operations. All of these factors will benefit the commercial insurance market in the region as it is home to a large of small & medium sized enterprises. Apart from that, North America will also record significant growth during the study period due to the presence of various industry players, such as American International Group, Inc., etc.

Competitors in the Market
• Marsh
• Willis Towers Watson
• Direct Line Insurance Group plc
• Chubb
• AXA
• American International Group, Inc.
• Allianz
• Aon plc
• Aviva
• Other Prominent Players

Market Segmentation
The global commercial insurance market segmentation focuses on Type, Distribution Channel, Enterprise Size, Industry Vertical, and Region. 
By Type Outlook
• Commercial Motor Insurance
• Commercial Property Insurance
• Liability Insurance
• Marine Insurance
• Others
By Distribution Channel Outlook 
• Agents & Brokers
• Direct Response
• Others
By Enterprise Size Outlook
• Large Enterprises
• Medium-sized Enterprises
• Small-sized Enterprises
By Industry Vertical Outlook
• Manufacturing
• Construction
• IT & Telecom
• Healthcare
• Energy & Utilities
• Transportation & Logistics
• Others
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America