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How has the entertainment insurance market size evolved in recent years?

The entertainment insurance market has seen rapid growth in recent years. It will rise from $3.88 billion in 2024 to $4.33 billion in 2025, at a CAGR of 11.4%. This expansion is driven by a rise in film and television production, more live events and concerts, regulatory changes, greater awareness of risk management, and the impact of natural disasters on events.

What are the predictions for the entertainment insurance market size in the coming years?

The entertainment insurance market is expected to grow rapidly, reaching $6.59 billion by 2029 with a CAGR of 11.1%. Growth drivers include the rise of streaming services, pandemic-related uncertainties, globalization of entertainment content, a focus on cybersecurity in media, and greater emphasis on sustainability in productions. Trends include blockchain adoption for rights management, increased AI use in risk assessment, diversity and inclusion in insurance policies, rising demand for cyber liability insurance, and integration of telematics for live event safety.

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What key factors are fueling the growth of the entertainment insurance market?

The expanding entertainment industry is expected to fuel the growth of the entertainment insurance market. The entertainment industry covers sectors like film, music, television, and live events, which are growing due to technological advancements and increasing consumer demand. Entertainment insurance helps mitigate financial risks in productions and events, supporting the industry’s continued growth. In March 2024, the Bureau of Economic Analysis reported substantial increases in the performance of sectors like performing arts and museums in 2022, underscoring the growth of the entertainment industry. This trend is propelling the growth of the entertainment insurance market.

How is the global entertainment insurance market divided into key segments?

The entertainment insurance market covered in this report is segmented –

1) By Product: Personal Insurance, Property Insurance

2) By Coverage: General Liability, Errors And Omissions, Workers Compensation, Equipment Insurance

3) By Distribution: Brokers , Non-Brokers

4) By Application: Entertainment Industry, Media Industry, Sports Industry, Live Events Industry

5) By End-User: Business, Individuals

Subsegments:

1) By Personal Insurance: Accident Insurance, Health Insurance, Liability Insurance, Disability Insurance, Travel Insurance

2) By Property Insurance: Event Cancellation Insurance, Equipment Insurance, Commercial Property Insurance, Theft And Damage Insurance, Film Production Insurance

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Who are the key firms paving the way for growth in the entertainment insurance market?

Major companies operating in the entertainment insurance market are Allianz, AXA XL, Chubb, The Hartford, Marsh LLC (Marsh & McLennan Companies Inc.), Everest Group Ltd., Gallagher, HUB International, Tokio Marine HCC, Hiscox, Insurance Canopy, Ryan Specialty, Next Insurance Inc., Higginbotham, OneBeacon Insurance Group, Coaction Specialty Insurance Group Inc., Zensurance, Front Row Insurance Brokers Inc., Allen Financial Insurance Group Inc., MFE Insurance Broker, Integro Insurance Brokers Limited, Reel Media LLC

Which trends are expected to transform the entertainment insurance market?

In the entertainment insurance market, companies are developing next-generation insurance solutions to meet the evolving risks of the entertainment industry. In May 2024, Galway Holdings LP, a US-based financial services provider, launched GalwayPlus Sports + Entertainment. This platform combines wealth management, insurance, and financial services to address the unique needs of clients in the sports and entertainment sectors.

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What regions are contributing significantly to the growth of the entertainment insurance market?

North America was the largest region in the entertainment insurance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the entertainment insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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