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Entertainment Insurance Market by Insurance Type (Production Insurance, Staging and Rigging Insurance, Special Event Insurance, Touring Insurance), by Coverages (Liability Coverage, Commercial Property Coverages, Other Coverages), by Distribution Channel (Brokers, Non-Brokers), by End User (Business, Individuals): Global Opportunity Analysis and Industry Forecast, 2023-2031

Entertainment Insurance Market by Insurance Type (Production Insurance, Staging and...

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Entertainment Insurance Market by Insurance Type (Production Insurance, Staging and Rigging Insurance, Special Event Insurance, Touring Insurance), by Coverages (Liability Coverage, Commercial Property Coverages, Other Coverages), by Distribution Channel (Brokers, Non-Brokers), by End User (Business, Individuals): Global Opportunity Analysis and Industry Forecast, 2023-2031
Entertainment Insurance Market by Insurance...
Report Code
RO13/128/1012

Publish Date
05/May/2023

Pages
200
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The global entertainment insurance market revenue was around US$ 3.5 billion in 2021 and is estimated to reach US$ 8.5 billion by 2031, growing at a compound annual growth rate (CAGR) of 10.1% during the forecast period from 2022 to 2031.

Entertainment insurance has access to a variety of coverage options for the policyholder that can be tailored to their needs. General liability, third-party injury, equipment loss or damage, and other similar items are all covered. Additionally, it shields the policyholder from libel and copyright claims, which are frequent in the insurance sector, involve high legal costs, and take years to resolve.

Factors Influencing Market Growth

The growth of the entertainment industry in recent years drives the growth of the entertainment insurance market.

High premium rate connected with entertainment insurance may hampers the market growth.

With technological advancements and the use of high-tech equipment by the entertainment sector, they must be insured against all types of risk to deliver the greatest possible experience. Thus, this factor is likely to offer growth opportunities for the global entertainment insurance market.
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Study of the COVID-19 Pandemic

The COVID-19 pandemic had a negative impact on the entertainment insurance market because all entertainment-related activities were halted during the lockdown, events were postponed, film shoots were halted, and other similar activities requiring risk protection were not necessary at that time. As a result, during the pandemic, there was a sharp decline in the demand for entertainment insurance. In addition, the current policyholders also discontinued their coverage because it was useless for them to pay a large premium for the policy even while nothing was happening.

Regional Insights

North America experienced the fastest growth. This is because entertainment equipment insurance has become a significant market trend and is widely used by entertainment companies, professional film producers, and acting schools across the U.S. The market has seen a tremendous rise in demand for both comprehensive & especially specialized entertainment insurance. In addition, insurance programs are run by insurers to satisfy the demands of entertainment company segments with specific risk profiles. As a result, this is increasing this region's market growth.

Leading Competitors
The leading competitors in the global entertainment insurance market are:
Allianz
Allen Financial Insurance Group
AXA XL
Chubb
Everest Re Group Ltd
Gallagher
Hub International
Higginbotham
Insurance Canopy
Marsh LLC
MFE Insurance Brokerage
Next Insurance
Ryan Specialty Group
The Hartford
Zensurance
Others
Segmentation Analysis
The global entertainment insurance market segmentation focuses on Insurance Type, Coverages, Distribution Channel, End User, and Region.
Segmentation based on Insurance Type
Production Insurance
Staging and Rigging Insurance
Special Event Insurance
Touring Insurance
Segmentation based on Coverages
Liability Coverage
Commercial Property Coverages
Other Coverages
Segmentation based on Distribution Channel
Brokers
Non-Brokers
Segmentation based on End User
Business
Individuals
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific

Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA

South America
Brazil
Argentina
Rest of South America

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