The Target Markets Program Administrators Association based in Wilmington, Del., will be conducting a study to determine the current size of the U.S. Program Business marketplace. Conducted by Benfield Inc., the TMPAA study will collect information regarding the total number of current program specialists, number of programs currently in force, total gross written program business premium and a breakdown of the specific lines of business written in these programs. The study results will be shared with insurance companies that write program business as well as those not members of the association.
The TMPAA defines program business as insurance products targeted to a particular niche market or class, generally representing a book of similar risks placed with one carrier. Administration is done through program specialists who have developed an expertise in that market or class. Administrative responsibilities are negotiated between the specialist and carrier, and may include marketing, underwriting selection, binding, issuing, billing, premium collections, data gathering, claims management/loss control and possibly risk sharing. Program specialists typically target their niches through differentiation either in product, risk management services, delivery mechanism or price. Specialists can distribute these programs on a retail or wholesale basis.
For more information about the study, visit www.targetmkts.com or call 877-347-5700.
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