This industry underwrites (i.e. assuming the risk and assigning premiums) disability insurance policies. Over the past five years, declining unemployment and relatively higher awareness of the consequences of disability have fueled growth in industry revenue. In 2013, the industry benefited tremendously from the gains made in capital markets, however, a slower-than-expected recovery in the labor markets, a decline in the number of policies and an increase in the benefit amount were enough to offset the gains, manifesting in a 1.1% decline in revenue. Going forward, this industry is expected to grow more slowly, closer to its historical average. The success of the industry will depend on being able to fully communicate the risks associated with disability and simplifying the various policies offered.
This industry underwrites (i.e. assuming the risk and assigning premiums) disability insurance policies. Disability insurance insures the beneficiary's earned income against the risk that a disability will render them unable to find full-time work in their chosen field. However, if an insured individual is deemed capable of working part time in a different field, they may not realize the full benefit of the insurance policy.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.