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Professional Indemnity Insurance

Overview

ProcurementIQ’s Procurement Research Reports cover thousands of indirect purchasing lines. Our data and analysis help you strategically engage and negotiate with suppliers and give you the credibility to work with internal stakeholders and executives. ProcurementIQ’s Professional Indemnity Insurance procurement research provides price trends and forecasts, supplier benchmarks and negotiation questions all intended to give your company leverage during the sourcing process.
doneBenchmark Price
doneRFP/RFQ/Negotiation Questions
done3 Year Price Forecast
doneSupply Chain Analysis
doneSupplier Intelligence
doneSample Buyer Decision Scorecard
REPORT SNAPSHOT

Professional Indemnity Insurance - Recent Price Trend

In the three years to 2017, the price of professional indemnity insurance has been rising at an estimated annualized rate of 2.0% due to strengthening demand and rising overhead costs. Although prices have been on the rise, strong competition among providers has helped slow price growth.During the past three years, the pricing environment for professional indemnity insurance has been largely.

Professional Indemnity Insurance - Total Cost of Ownership

Total cost of ownership for professional indemnity insurance is low. Buyers can expect that additional costs will be less than 50.0% of the annual premium.Total cost of ownership typically depends on the policy that a buyer purchases. When selecting a plan, buyers that choose a lower premium may find themselves paying more in the long run. Policies with lower premiums often have higher.

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About this Report

This report is intended to assist buyers of professional indemnity insurance, also known as professional liability insurance or errors and omissions insurance. For medical professionals, it is commonly called medical malpractice insurance. This insurance provides coverage against negligence claims made by clients. It covers the cost of defending against the claim and paying any damages awarded to the litigant. Different types of indemnity include repairs, replacement, cash payments and reinstatement. This report excludes other types of insurance, such as building contents insurance, cargo insurance, reinsurance and business interruption insurance.

Table of Contents

At a Glance

Executive Summary

Price Environment
 Price Fundamentals
  Benchmark Price
  Pricing Model
 Price Drivers
 Input Cost Drivers
 External Demand Drivers
 Recent Price Trend
 Price Forecast

Product Characteristics
 Product Life Cycle
 Total Cost of Ownership
 Product Specialization
 Related Goods
 Subsitute Goods
 Regulation
 Quality Control
Supply Chain & Vendors
 Supply Chain Dynamics
  Supply Chain Risk
  Geographic Locations
  Imports
 Competitive Environment
  Market Share Concentration
  Vendor Company Types
 Market Profitability
 Switching Cost

Purchasing Process
 Buying Basics
 Buying Lead Time
  Selection Process
  Buying-Decision Scorecard
 Key RFP Elements

Negotiation Questions

Buyer Power Score Components

Jargon & Glossary

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