Most insurers think the size of the program business market will not amount to more than $20-to-$30 billion in gross written premium this year, according to an e-mail survey conducted by Guy Carpenter.
The reinsurance brokerage firm, a member of New York-based Marsh & McLennan Companies, made the finding in its third annual survey of domestic insurance companies that write specialty program business through program administrators.
According to the survey, 50 percent of carriers believe the program business market will be in the $20-to-$30 billion range, compared with 44 percent in last year's survey. Those carriers who believe the market will stand at more than $30 billion dropped from 40 percent in the 2006 survey to 23 percent.
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