Louisiana’s Business Insurance Market: Looking Toward the Future
The Louisiana business insurance market is expected to grow at a rate of 7.0% from 2017 to 2022, according to the 2017 Texas A&M University Market Research Report. This growth is likely to be fueled by the increasing demand for business insurance in Louisiana due to the state’s strong economy and its high population density. The report also stated that the Louisiana business insurance market is expected to be dominated by general liability and property insurance.
The Louisiana business insurance market is estimated to be worth $1.1 billion in 2016. The growth of the Louisiana economy and the increase in businesses in the state has led to an increased demand for business insurance, which will continue to grow as more businesses establish themselves in Louisiana. The state’s business insurance market is competitive, with many insurers offering similar products at similar prices. In addition, the state’s regulators are diligent in ensuring that companies are fully protected against potential risks.