Homeowners' Insurance Industry

Abstract

The Homeowners' Insurance Industry Report provides insightful analysis, market overview, structure and outlook of the industry. A synopsized discussion offers preludes to regional insurance markets such as the United States, Canada, the United Kingdom, Denmark and Chile. The report provides the reader with a rudimentary preface, specifically to the homeowners' insurance industry in the US, which is richly laden with qualitative and quantitative analysis. The report also examines leading companies' footing in the US homeowners' insurance industry, along with their annual written premiums. Also provided is a compilation of recent past/ historical perspective of the industry, strategic corporate developments and product launches within it. Global key and niche players briefly discussed and abstracted in the report include Allianz Cornhill, Allstate Financial Group, Aviva Plc., Chubb Corp., Fidelity National Financial, Hilb Rogal & Hobbs Company, Insurance Australia Group Ltd., Metropolitan Life Insurance Co., NatWest Life, Royal & Sun Alliance Insurance Group, State Farm Group, Suncorp Metway Insurance Ltd., and Zurich Australia Insurance Limited.

Table of Contents

1. Common Types of Protection

• Structure of the House...
• Personal Belongings...
• Liability Protection...
• Additional Living Expenses...

2. Savings on Renters Insurance

• Customer Guidelines...

3. Regional Perspective

3a Homeowners Insurance Market in the US

• Hurricane Losses Expand Coverage for Homeowners Insurance
• Private Insurers Repulsing on Homeowners Insurance Policies
• Homeowners and Auto Insurance Markets to Quiver
• Table 1: Leading Players in the US Homeowners Insurance Market (2006): Market Share of Direct Premiums Written in US$ Billion by Company - State Farm Mutual Group, Allstate Insurance Group, Zurich Insurance Group, Nationwide Group, Travelers Group, USAA Group, Liberty Mutual Insurance Group, Chubb & Son Group, American Family Insurance Group and Hartford Fire & Casualty Group (includes corresponding Graph/Chart)
• Table 2: Top 10 States in the US Homeowners' Insurance Market by Direct Premiums in US$ Million for 2006 (includes corresponding Graph/Chart)
• Home Insurance Coverage
• Seven Basic Kinds of Home Insurance Policies
• Covered and Not Covered Events of Casualty/Damage in Home Insurance
• Renters Insurance in Brief
• Coverage Types...
• Actual Cash Value
• Replacement Cost
• Liability Coverage
• Additional Living Expenses
• Costs...
• Deductibles in Homeowners Insurance
• Other Home Insurance Coverages
• Guaranteed Replacement Cost Coverage...
• Inflation Guard Endorsement...
• Scheduled Personal Property Endorsement...
• Increased Limits on Money and Securities...
• Secondary Residence Premises Endorsement...
• Watercraft Endorsement...
• Theft Coverage Protection Endorsement...
• Credit Card Forgery and Depositors Forgery Coverage Endorsement...
• Earthquake Insurance...
• California - The Most Active Seismic Zone
• Table 3: Major Earthquakes in the US: Ranked by Property Damage in US$ Million
• Windstorm Coverage...
• Key Trends and Issues in Homeowners' Insurance Sector
• Homeowner' s Earthquake Policies on Decline as Insurers Reduce Benefits...
• Huge Losses Deter Insurers from Offering Rich Earthquake Policies...
• The Underinsured Homeowners...
• Marital Status - An Issue...
• Challenges Facing Homeowners Insurers
• Toxic Mold Damage Claims...
• Law Practitioners Cash in on Mold Claims
• Lapses Lead to Losses
• Crisis Creates Claim-Premium Imbalance
• Insurers Taking No Chances
• Key Statistics of Recent Past
• Table 4: US Expenditure on Homeowners' Insurance: 2000-2002 (In US$ Million) (includes corresponding Graph/Chart)
• Table 5: US Homeowner/Renter Insurance Market (2000-2002): Average Premiums Written (in US$) for Homeowners, and Renters (includes corresponding Graph/Chart)
• Table 6: Homeowners Losses in the US for 2000-2004 (includes corresponding Graph/Chart)
• Rates on the Uptrend for Homeowners Insurance
• Factors Contributing to Increased Rates for Homeowners' Plans...
• Table 7: Leading Players in US Homeowners Insurance Market (2003): Percentage Breakdown by Direct Premiums Written (In US$ Billion) for State Farm Mutual Group, Allstate Insurance Co. Group, Farmers Insurance Group, Nationwide Group, United Services Automobile Association Group, Travelers Property Casualty Corp. & Affiliates, Liberty Mutual Group, Combined Federal Ins. Co. & Affiliates (Chubb), American Family Insurance Group, Combined Safeco Ins. Co. Group, and Others (includes corresponding Graph/Chart)
• Table 8: Leading Players in US Homeowners Multiple Peril Insurance Market (2000-2002): Percentage Share Breakdown by Direct Premiums Written (In US$ million) for State Farm Group, Allstate Ins Group, Zurich/ Farmers Group, Nationwide Group, USAA Group, Travelers P C Group, Chubb Group of Ins Cos, Amer Family Ins Group, Liberty Mutual Ins Cos, Safeco Ins Cos and Others (includes corresponding Graph/Chart)
• Table 9: US Homeowners Multiple Peril Insurance Market (2001 & 2002): Number of Companies Writing Policies; Direct Premiums Written in Dollars; and Percentage Share of Each State
• Earthquake Writers in the US - Key Statistics
• Table 10: Market Shares of Leading Earthquake Writers in US in 2000 (In %) (includes corresponding Graph/Chart)
• Table 11: Leading Players in Fire and Homeowners Multiple Peril Insurance Market in Hawaii (2000): Direct Premium Written in US$ million for State Farm Group, CNA Insurance Cos, Ace INA Group, Island Insurance Group, Allstate Insurance Group, and Others (includes corresponding Graph/Chart
• Homeowners Insurance Market in Hawaii

3b. Review of Homeowners' Insurance Market in Other Countries/Regions

• 3b(i). Canada
• 3b(ii). The United Kingdom
• A Historic Retrospect on Homeowners' Insurance
• Rate Hikes Indispensable
• Intermediaries Command Distribution of Home Insurance
• Price Sensitivity of Household Insurance Premiums
• Determinants
• Trend Towards Single Adult Homes
• Brighter Prospects in the Offing
• Competition Intensifies
• 3b(iii). Denmark
• Market Leaders - A Past Perspective
• Table 12: Household Insurance Industry in Denmark (2002): Gross Premium and Gross Claims in DKK Million by Companies (includes corresponding Graph/Chart
• 3b(iv). Chile
• Mass Marketing Props Demand for Homeowners Insurance
• Coverage Scope of Homeowners' Insurance in Chile

4. Product Launches

• Allstate Introduces New Landlord Insurance Product in Texas
• Zurich to Re-Launch its Home Solutions Product
• Halifax Rolls Out New Insurance Product

5. Product Launches in the Past

• Chubb Introduces Homeowners Policy
• Zurich Launches Zurich Home Service Plan
• First American Forays into Homeowners Insurance
• Abram Introduces Homeowners Program
• LeasingDesk.com Extends Coverage to More States
• Norwich Union Launches Garden Insurance Package
• Union General' s Insurance Products for Apartments

6. Recent Industry Activity

• Unitrin' s Subsidiary Acquires Merastar
• CFS Forms a New Wing for General Insurance
• Alleghany to Purchase Stake in Homesite Group
• Assurant Snaps Up SAFECO FIS
• Great Northwest Takes Over Hawaiian Insurance & Guaranty
• State Automobile to Acquire Beacon
• Motors Insurance Acquires MEEMIC Holdings
• Benchmark Causes Vibes in Investment Property Insurance
• Sequel Acquires Stake in Homeowners of America
• ProCentury Acquires Firemans Fund Insurance
• COUNTRY Insurance & Financial Services to Acquire MSI Insurance Co
• Lawley-Andolina LLC Acquires Luellen Insurance
• Wescom Credit Union Acquires Hallmark Associates Insurance Services
• IBM Plans to Acquire Liberty Insurance Services Corp

7. Strategic Developments in the Past

• Cardif Acquires FALIC
• CFI Buys Summit Insurance Group
• Hub International Ltd. Acquires CIA
• Balboa Reaches Agreement with 21st Century
• Farmers Insurance Formulates Partnership with Target Stores
• Texas Department of Insurance Approves New Homeowners Policy
• CPP Acquires Homecare Holdings

8. Focus on Select Players Worldwide

• Allianz Cornhill, UK
• Allstate Financial Group, US
• Aviva Plc, UK - Fifth Largest Life Insurer in the World
• Grupo Bradesco de Seguros, Brazil
• Chubb Corp., US
• Direct Line, UK
• Ecclesiastical Insurance Group, UK
• Equity Insurance Group Limited, UK
• Fidelity National Financial, US
• Generali -Providencia, Hungary
• Hartford Financial Services Group, Inc., US
• Insurance Australia Group Ltd. (IAG), Australia
• Metropolitan Life Insurance Co., US
• NatWest Life, UK
• Royal & Sun Alliance Insurance Group, UK
• State Farm Mutual Automobile Insurance Company, US
• Suncorp Metway Insurance Ltd, Australia
• Zurich Australia Insurance Limited, Australia

COMPETITIVE LANDSCAPE