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Boat, Yacht and Pleasure Craft Insurance in the USA: Market Dynamics, Affinities and Partnerships

Boat, Yacht and Pleasure Craft Insurance in the USA: Market Dynamics, Affinities and Partnerships is a report investigating the market for recreational marine insurance in the US. Key features include: an outline of market drivers and the value and growth of the market from 2014 to 2018; quantification and commentary concerning the segmentation of policies in force by distribution channels used to buy them in 2018; estimates for underwriter market shares in 2018; a comprehensive listing of affinity and partnership marketing relationships visible at the time of the research in 2018 for this type of contract, including ones employing 'insurtech' with the aim of disrupting incumbent competitors; and forecasts for the value of the market up to 2022.

Moreover, all market value data, including the forecast, is segmented between the Midwest, Northeast, South and West so that the current magnitude and likely future direction of the opportunity is apparent for each region, and is provided in addition to the report, along with other supporting data, in an associated market data file.

In this report, boat, yacht and pleasure craft insurance is defined as cover for individually-owned vessels, on-board contents and associated liabilities in case of a loss event. The universe of vessels considered includes all US-registered recreational boats for personal use (apart from ‘super yachts’ or ‘mega yachts’ that are more than 80 feet in length) including sailboats, skiffs, flat-bottomed boats, jon boats, bay boats, flats boats, deck boats, pontoon boats, barges, motorboats, yachts, kayaks, canoes and personal watercraft such as jet skis. As such, it excludes all vessels owned by commercial enterprises and the public sector.

In keeping with 11 other studies in this series, research processes and sources used to create it include the following: primary interviews with leading brokers, underwriters and affinity / corporate partners active in this field; in-house data drawn from other Finaccord reports; and comprehensive analysis of secondary information from a diverse range of data sources including US government departments and financial regulators, relevant trade and other associations, specialist publications and published disclosures by competitors active in the market. All relevant workings, such as estimates for attachment rates within the target audience, are presented in a transparent manner.

For further information about this research, please access the table of contents and series prospectus by clicking on the links at the top of this page, or e-mail info@finaccord.com.

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Finaccord is also able to undertake bespoke research and consulting assignments about this and other subjects. For further information about the types of consulting that Finaccord is able to carry out, please visit our Consulting page.