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Professional Liability Insurance Market to Reach $81.2 Billion, Globally, by 2032 at 6.7% CAGR: Allied Market Research

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The global professional liability insurance market is experiencing growth due to several factors such urbanization and transformation towards service-sector economy and increase in awareness of the professional liability insurance plan.

WILMINGTON, Del., Aug. 5, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Professional Liability Insurance Market by Type (Medical Liability, Lawyer Liability, CPA Liability, Construction Liability, and Others), and Application (Up to $1 Million, $1 Million to $5 Million, $5 Million to $20 Million, and Over $20 Million): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the professional liability insurance market was valued at $45.6 billion in 2023, and is estimated to reach $81.2 billion by 2032, growing at a CAGR of 6.7% from 2024 to 2032.

Claim Your Research Report Sample & TOC: https://www.alliedmarketresearch.com/request-sample/A120260 

Report coverage & details:

Report Coverage

Details

Forecast Period

2024–2032

Base Year

2023

Market Size in 2022

$45.6 billion

Market Size in 2032

$45.6 billion

CAGR

6.7 %

No. of Pages in Report

219

Segments covered

Type, Application, and Region.

Drivers

 Urbanization and transformation towards service-sector economy Increase in awareness of the professional liability insurance plan

 

Opportunities

Growth of professional services across various industries

Restraints

High insurance amount and longer time for claim settlement

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Prime determinants of growth  

The global professional liability insurance market is experiencing growth due to several factors such as urbanization and transformation towards service-sector economy and increase in awareness of the professional liability insurance plan. However, the high insurance amount and longer time for claim settlement hinders market growth to some extent. Moreover, the growth of professional services across various industries offers remunerative opportunities for the expansion of the global professional liability insurance market.

The CPA Liability segment is expected to dominate during the forecast period. 

By type, the CPA liability segment is projected to attain the highest CAGR of 10.3% from 2024 to 2032, owing to the use of data analytics and reporting capabilities in advocacy software to monitor and analyze liability trends and patterns. This data-driven approach enables CPA firms to gain insights into common areas of malpractice, understand the factors contributing to liability risks, and develop strategies to mitigate these risks. 

The Up to $55 million to $20 million segment is expected to dominate during the forecast period. 

By application, the $5 million to $20 million segment is projected to attain the highest CAGR of 14.1% from 2024 to 2032, owing to the integration of advanced data analytics and machine learning capabilities. These features enable organizations to analyze vast amounts of data, predict advocacy outcomes, and tailor campaigns more effectively based on data-driven insights. 

Asia-Pacific to maintain its dominance by 2032. 

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for three-fourths of the global professional liability insurance market revenue and is expected to dominate the market in terms of revenue during the forecast period, owing to the rapid adoption of mobile-first and cloud-based solutions. Given the high mobile penetration and the increasing reliance on cloud technology in many Asia-Pacific countries, advocacy software is being designed to be highly accessible on mobile devices and scalable via cloud platforms. This ensures that advocacy organizations can engage supporters and manage campaigns effectively, even in areas with limited infrastructure. 

Chubb Group of Insurance Companies 

American International Group, Inc.Hiscox Inc.Allianz SETokio Marine Holdings, Inc.AXA SAThe Travelers Indemnity CompanyAssicurazioni Generali S.p.A.The Doctors CompanyCNA Financial Corporation

The report provides a detailed analysis of these key players in the global professional liability insurance market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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https://www.alliedmarketresearch.com/request-for-customization/A120260 

Key Benefits for Stakeholders

This report provides a quantitative analysis of the professional liability insurance market growth, current trends, estimations, and dynamics of the professional liability insurance market analysis from 2024 to 2032 to identify the prevailing professional liability insurance market opportunity.The professional liability insurance market research is offered along with information related to key drivers, restraints, and opportunities.Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.In-depth analysis of the professional liability insurance market share to determine the prevailing market opportunities.Major countries in each region are mapped according to their revenue contribution to the global professional liability insurance market size.Market player positioning facilitates benchmarking and provides a clear understanding of the professional liability insurance market players’ present position.The report includes the analysis of the regional and global professional liability insurance market trends, key players, market segments, application areas, and market growth strategies.

Professional Liability Insurance Market Report Highlights

Aspects Details

By Type

Medical LiabilityLawyer LiabilityCPA LiabilityConstruction LiabilityOthers

By Application

Up to $1 Million$1 Million to $5 Million$5 Million to $20 MillionOver $20 Million

By Region

North America (U.S., Canada)Europe (UK, Germany, France, Italy, Spain, Rest of Europe)Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)Latin America (Brazil, Argentina, Colombia, Rest of Latin America)Middle East and Africa (GCC Countries, South Africa, Rest of Middle East and Africa)

Get Your 219-Page Report Now (PDF with Detailed Insights, Charts, Tables, and Figures) @ https://www.alliedmarketresearch.com/checkout-final/611e3a768f2b43179cf8e4610caffe76?utm_source=AMR&utm_medium=research&utm_campaign=P19623 

Key Market Players

Allianz SE, The Travelers Indemnity Company, Hiscox Inc., The Doctors Company, Tokio Marine Holdings, Inc., Chubb Group of Insurance Companies, CNA Financial Corporation, Assicurazioni Generali S.p.A., American International Group, Inc., AXA SA

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Cultivating a Culture of Peace: International Day of Peace Statement by Education Cannot Wait Executive Director Yasmine Sherif

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NEW YORK, Sept. 21, 2024 /CNW/ — The longing for peace transcends time, geography and religion. Based on justice, human rights and universal values outlined in the UN Charter, a culture of peace brings us all together in our common agenda for humanity. We can only co-exist by aligning ourselves with such a world order.

On today’s International Day of Peace, we call on world leaders to end conflict and embrace a culture of peace as enshrined in the UN Charter and related international law.

As the UN General Assembly outlined in the Declaration and Programme of Action on a Culture of Peace  a quarter of a century ago, this must include: “Respect for life, human rights and fundamental freedoms; the promotion of non-violence through education, dialogue and cooperation; commitment to peaceful settlement of conflicts; and adherence to freedom, justice, democracy, tolerance, solidarity, cooperation, pluralism, cultural diversity, dialogue and understanding at all levels of society and among nations.”

Educating for peace starts at home and continues in school through years of education. This takes place during the most formative years of a child learning about their identity, ethics, values, conscience, courage and compassion. Wherever there has been a failure in imparting on children the imperative for peace, the world is turned upside down. This is a global failure with no geographical boundaries.

Today, we live in a world of unprecedented violence, armed conflict and chaos. All the genuine and heartfelt commitments made in 1945 in the UN Charter seem to be fading away. Children and adolescents are the most vulnerable, the least protected, and the most impacted. They bear the brunt. 

Global conflicts killed three times as many children in 2023 than in the previous year, according to the United Nations. The number of forcibly displaced people reached an unprecedented 120 million in May 2024.

“In 2023, the United Nations verified a record 32,990 grave violations against 22,557 children in 26 conflict zones, a 35% increase from the previous year,” according to recent analysis by the UN.

We can end these violations and invest in a constructive co-existence globally. We can use our resources for education, rather than for wars. In classrooms around the world, girls and boys who have withstood the wrath of war can rebuild their hopes and their lives. Cultivating a culture of peace is possible. The financial resources exist. The choice as to how we use them is ours.

View original content to download multimedia:https://www.prnewswire.com/news-releases/cultivating-a-culture-of-peace-international-day-of-peace-statement-by-education-cannot-wait-executive-director-yasmine-sherif-302254413.html

SOURCE Education Cannot Wait

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Niutech at the Forefront: U.S.-China Circular Economy Forum Tackles “White Pollution”

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BEIJING, Sept. 20, 2024 /PRNewswire/ — On September 6, 2024, the inaugural U.S.-China Circular Economy Cooperation Forum was held in Beijing. The forum, guided by the U.S.-China Climate Action Working Group Circular Economy Task Force, was co-organized by the China Circular Economy Association and the US-China Business Council. The forum brought together approximately 460 distinguished guests from the National Development and Reform Commission of China, the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, the Ministry of Housing and Urban-Rural Development, the Ministry of Commerce, the General Administration of Market Regulation, the US State Department, the US Department of Energy and other government departments, as well as industry experts, business representatives and scientific research institutions of the two countries. As the domestic leader in continuous pyrolysis technology, Niutech was invited by the China Circular Economy Association to attend the forum and gave an insightful speech on the topic of waste plastic recycling, and the issues of ‘white pollution’ that can result from it.

Enhancing Quality and Efficiency in the Circular Economy with Innovative Forces

The forum was strategically designed to advance the goals outlined in the U.S.-China “The Sunnylands Statement on Enhancing Cooperation to Address the Climate Crisis” (hereinafter referred to as the Sunnylands Statement). It aimed to create a collaborative platform for the business community, social organizations, and research institutions from both countries to foster exchanges and drive tangible cooperation in the circular economy.  

Zhao Chenxin, Deputy Director of the National Development and Reform Commission, John Podesta, Senior Advisor to the U.S. President on International Climate Policy, Liu Zhenmin, China’s Special Envoy for Climate Change Affairs, Nicholas Burns, U.S. Ambassador to China, and Xie Zhenhua, former Special Envoy for Climate Change Affairs of China, attended the opening ceremony of the Forum and delivered a speech, and Xie Feng, Chinese Ambassador to the U.S., made a video message. Deputy Director Zhao Chenxin said that addressing climate change is a common cause for all mankind and cannot be separated from the cooperation between the two global forces, China and the United States.

The China-US Circular Economy Cooperation Forum, held as an initiative to implement the Sunnylands Statement, marked another significant milestone in China-US cooperation on the circular economy. This collaboration is crucial for both nations as they join forces to tackle the climate crisis. On the afternoon of September 6, the forum organized four parallel meetings, where representatives engaged in in-depth exchanges on topics such as using the recycling economy to reduce greenhouse gas emissions, promoting the application of recycled materials, addressing plastic pollution and enhancing recycling, and increasing the recycling value of waste in the context of new industries and consumption patterns.

Niutech: International Experts on Continuous Pyrolysis Technology and Pioneers in solving the global “white pollution” problem

Globally, hundreds of millions of tons of waste plastics are generated annually, yet only about 30% undergo recycling. Traditional physical methods are typically limited to high-value, single-category, and relatively clean waste plastics. However, repeated recycling can degrade the quality of the plastics. Chemical recycling, on the other hand, offers a transformative approach by converting waste plastics into high-value products or fuels through chemical processes, thus overcoming the limitations of physical recycling.

Pyrolysis technology, a cornerstone of chemical recycling, addresses the challenges associated with the material recycling of waste plastics. It is adept at processing various types of low-value, mixed, and contaminated waste plastics. The products of pyrolysis can be further processed to manufacture new plastics, achieving a closed-loop system where waste plastics are repurposed into high-value new plastics. This not only retains the material’s utility at a high level but also converts “white pollution” into a “white oil field,” signifying a major shift in the management and valorization of plastic waste.

At the forum, as the international expert in continuous pyrolysis technology, the corporate representative of Niutech shared the cases of waste plastic chemical recycling projects deployed with international giants BASF and Quantafuel in Denmark, Thailand and other countries. Niutech has developed its own pyrolysis technology and equipment, which they fully own the intellectual property rights to. This technology enables the transformation of low-value, mixed, and contaminated waste plastics—including various polymers such as PP, PE, PS, ABS—into high-quality fuel oil.  

The fuel oil derived from this process can undergo further refining into naphtha, a critical raw material in the production of new plastics. This advanced recycling process not only diverts plastics from landfills and the environment but also contributes to a circular economy by turning waste into a valuable resource.

In the future, Niutech will continue to champion the principle of “green, recycling and low-carbon” waste plastics pyrolysis. Armed with advanced technology, reliable equipment, abundant high-value solutions and proven experience, Niutech is committed to enhancing communication and cooperation with domestic and foreign partners. Together, they will drive forward the chemical recycling of waste plastics and the sustainable development of the global waste plastics recycling industry.

 

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SOURCE Niutech

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Global Ultrasound Institute Launches GUSI Fellowships Platform: Elevating Point-of-Care Ultrasound Education

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SAN FRANCISCO, Sept. 20, 2024 /PRNewswire/ — The Global Ultrasound Institute (GUSI) is proud to announce the launch of the GUSI Fellowships Platform, an innovative online platform designed to empower learners around the world to achieve confidence and competency in point-of-care ultrasound (POCUS). With a holistic, device-independent approach that includes comprehensive evidence-based education, personalized mentorship from world-class POCUS educators, detailed scan review feedback, quantitative assessments, and CME certification, GUSI is setting a new standard in POCUS education.

“GUSI’s online didactics are the best that I have seen. And what I like most about the fellowship were the 1:1 sessions and being able to interact with GUSI expert faculty who have many years of experience in POCUS. And you get to pick their brains and they get to instruct you 1:1. I have used the training I received from GUSI to do much more POCUS clinically and further impact my patients lives.”

Dr. James Wilcox,
Assistant POCUS Director, Indiana University School of Medicine
Adjunct Professor and Assistant Professor of Medicine

“Our mission at GUSI is to democratize access to high-quality ultrasound training,” said Dr. Kevin Bergman and Dr. Mena Ramos, Co-CEOs of Global Ultrasound Institute. “The GUSI Fellowships Platform enables learners from diverse backgrounds to enhance their skills in a supportive, flexible environment, making it easier than ever to reach their POCUS goals.”

With training options covering 38 different scan types, learners can expect personalized 1:1 mentorship with expert POCUS educators who provide timely feedback on practice scans.

“The GUSI fellowship mentors are the best: patient, kind, knowledgeable, experienced, and supportive. GUSI provided education in the areas I wanted and needed to obtain and in my home/office environment not requiring multiple trips around the country. It is not just the way course work is presented – learning is made easier by the support provided to each student.”

Dr. Glenda Patterson
Core Faculty, University of Arkansas Northwest Internal Medicine Residency
Physician, Veterans Health Care of the Ozarks
Board-certified in Internal Medicine, Pulmonary Medicine, and Critical Care Medicine

The GUSI Fellowships Platform features a scalable software system designed to monitor and track performance, ensuring learners can effectively measure their progress.

GUSI understands the challenges faced by healthcare professionals seeking to enhance their ultrasound skills amid demanding schedules. GUSI addresses these concerns with flexible scheduling options, allowing learners to progress at their own pace while balancing their professional and personal commitments. This adaptability and virtual experience is crucial for fostering a culture of continuous learning and skill development.

“I went from not being able to hold the probe to someone who can scan and diagnosing and finding pathologies. I worked with Dr. Milne-Price and she was amazing! She sharpened my skills and we did sessions of live scanning over Zoom. I feel confident in my skills now to scan on my own.”

Dr. Dalea Al-Hawarri
Faculty, Bryn Mawr Family Medicine Residency

As healthcare continues to evolve, the demand for proficient ultrasound practitioners has never been greater. GUSI is not only committed to providing exceptional education but also aims to inspire a new generation of healthcare professionals who can leverage POCUS to improve patient outcomes globally. Join us in this exciting journey towards excellence in ultrasound practice.

For more information on GUSI Fellowships and to start your journey toward ultrasound proficiency, visit https://globalultrasoundinstitute.com/.

About Global Ultrasound Institute:

Global Ultrasound Institute stands at the forefront of point-of-care ultrasound, providing wraparound education, training, AI, and administrative software tools to healthcare providers and health systems globally to lower barriers to POCUS adoption and implementation. GUSI has trained over 14,000 healthcare practitioners in over 60 countries. GUSI is working to create a better world in which every healthcare practitioner is empowered to offer a rapid, reliable, accurate ultrasound-enabled diagnosis directly at the point-of-care, for any patient, anywhere.

For more information about GUSI Fellowships or any of GUSI services, please visit https://globalultrasoundinstitute.com/

Contact:

Dr. Kevin Bergman, Co-Founder, co-CEO, Global Ultrasound Institute
Dr. Mena Ramos, Co-Founder, co-CEO, Global Ultrasound Institute

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SOURCE GLOBAL ULTRASOUND INSTITUTE

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