29 Mar, 2024
1 min read

Insurance Brokers Global Market to Reach $187 Billion by 2031 at a CAGR of 8.2%

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Global Insurance Brokers Market

Global Insurance Brokers Market

Global Insurance Brokers Market

Dublin, July 29, 2022 (GLOBE NEWSWIRE) — The “Insurance Brokers Global Market Opportunities And Strategies To 2031” report has been added to ResearchAndMarkets.com’s offering.

The global insurance brokers market reached a value of nearly $128,210.3 million in 2021, having increased at a compound annual growth rate (CAGR) of 2.5% since 2016. The market is expected to grow from $128,210.3 million in 2021 to $187,982.0 million in 2026 at a rate of 8.0%. The market is then expected to grow at a CAGR of 8.2% from 2026 and reach $278,308.9 million in 2031.

Growth in the historic period, from strong economic growth in emerging markets, government led insurance reforms, increasing healthcare costs, and impact of COVID-19. Factors that negatively affected growth in the historic period were self-insuring, low insurance penetration, falling life insurance penetration rates and lack of awareness.

Going forward, an increase in chronic diseases and disabilities, growth of the middle-class in emerging markets, and increasing mergers and acquisitions will drive market growth. Factors that could hinder the growth of the insurance brokers market in the future include direct sales by insurance providers, additional charges by insurance brokers and consumers considering insurance as non-investment grade.

Market-trend-based strategies for the insurance brokers market include technologies to aid automation of insurance, adaptation of insurance portals and digital distribution channels for efficiency, entry of nontraditional firms in the insurance brokers market, and increasing mergers and acquisitions.

Player-adopted strategies in the insurance brokers market include focus on expanding operational presence through acquisitions, focus on strengthening business through expansion and digitization of existing manual operations.

Scope
Markets Covered:

  1. By Type: Life Insurance; General Insurance; Health Insurance; Other Types

  2. By Mode: Offline; On line

  3. By End User: Corporate; Individuals

Key Topics Covered:

1.

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2 mins read

Defense lawyers threaten job action over Legal Aid Alberta funding

The associations plan to meet on Wednesday night to discuss and vote on next steps, including the withdrawal of their services.  (Cort Sloan/CBC - image credit)

The associations plan to meet on Wednesday night to discuss and vote on next steps, including the withdrawal of their services. (Cort Sloan/CBC – image credit)

Three organizations that represent hundreds of defense lawyers in Alberta are threatening job action if the provincial government does not increase funding for Legal Aid Alberta.

The Criminal Defense Lawyers’ Association of Calgary, the Criminal Trial Lawyers’ Association of Edmonton, and the Southern Alberta Defense Lawyers’ Association of Lethbridge sent letters to Justice Minister Tyler Shandro in mid-July requesting a funding discussion before July 29.

The associations say the government is refusing to properly fund Legal Aid Alberta (LAA), a non-profit organization that provides legal services to Albertans in family, domestic violence, child welfare, immigration and criminal defense cases.

The defense lawyers I Alberta lawyers who take legal aid cases are underpaid compared to those in Manitoba, British Columbia and Ontario and that many have become crown prosecutors to obtain better compensation.

“The most minimal provision of legal aid services in Alberta is at a breaking point,” the groups said in a joint press release Saturday.

The associations plan to meet on Wednesday night to discuss and vote on next steps, including the withdrawal of their services.

Submitted by Danielle Boisvert

Submitted by Danielle Boisvert

Danielle Boisvert, president of the CTLA in Edmonton, said the job action “would have a serious, direct and immediate impact on everybody else in the justice system.”

She said without legal aid lawyers, many more Albertans would try to represent themselves in court, leading to more work for crown prosecutors and judges and increasing the possibility of wrongful convictions.

Pay discrepancies

LAA, which is mainly funded by the province, served more than 34,000 clients last year.

Boisvert said legal aid cases make up about half of most defense lawyers’ workload, but the percentage

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