Allied Market Research published a report, titled, Commercial flood insurance Market by Coverage Type (Building Coverage, Content Coverage and Combined Coverage), by Policy Provider (National Flood Insurance Program (NFIP), Private Flood Insurance), and Distribution Channel (Direct Sales and Agents and Brokers): Global Opportunity Analysis and Industry Forecast, 2024-2033 . According to the report, the commercial flood insurance market was valued at $8.0 billion in 2023, and is estimated to reach $30.0 billion by 2033, growing at a CAGR of 14.1% from 2024 to 2033.
Prime determinants of growth
Increasing number of insurance markets. However, the high premium costs of commercial flood insurance policies, along with the lack of awareness and misconceptions about flood risks hinder market growth to some extent. Moreover, the increasing urbanization and infrastructure development across developing countries, along with technological enhancements in improving the accuracy of flood hazards offer remunerative opportunities for the expansion of the global commercial flood insurance market.
Report coverage details:
Report Coverage
