Program business in the U.S. currently generates $27.4 billion in premiums, or roughly one in 10 of the dollars spent on commercial property-casualty insurance today, according to the third annual “State of Program Business” study conducted by the Target Markets Program Administrators Association (TMPAA).
Total premium for program business in the U.S. has increased more than 10 percent over 2011, significantly outstripping the growth in commercial lines direct premiums.
The study, conducted by TMPAA and Advisen, examined 2012 business results based on responses from 214 program administrator and 43 carriers, examining issues such as program definition, the major challenges faced by both administrators and insurers, and marketing practices in the program space.
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