October 9th, 2009

Guy Carpenter Fifth Annual Specialty Insurance Program Issuing Carrier Survey, Part III: About the Respondents

Posted at 12:30 AM ET

Carl Bach, Managing Director and John Barrows, Vice President
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This year, the number of traditional multi-line insurance carriers increased from 50 percent to 63 percent, with specialty carriers slipping to 34 percent. The response in 2007 was equivalent to 2008. More than half of all respondents had 2008 GWP of less than USD100 million, and 24 percent were between USD101 million and USD500 million. None wrote more than USD1 billion in 2008.

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Few changes are expected for the rest of the year, as most respondents did not indicate that their sizes will increase or decrease substantially. Forty-five percent of respondents indicated that they are likely to exceed USD100 million in GWP compared to 33 percent in 2008. Nearly 70 percent respondents plan to write between one and five new programs in 2009, with 27 percent anticipating six to 10 new programs.

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Eighty-seven percent of respondents have access to admitted paper in 41 or more states. Only 8 percent are admitted in 25 or fewer states, while 6 percent are admitted in 26 to 40 states. Eighty-eight percent of respondents have access to non-admitted paper in 41 or more states up from last year’s 75 percent and consistent with 2007’s 86 percent.

Carrier interest in industry meetings and conferences continued to increase in 2008. This year, NAPSLO is the most popular with our respondents, as 63 percent claim they benefit from attending, roughly unchanged year-over-year. But, the AAMGA annual meeting, last year’s most popular event, slipped behind NAPSLO. Seventy-one percent replied that they benefited from other conferences such as Peak Performance, PLUS, VCIA, to name a few; this is basically unchanged from 2008. Mid-year meetings are less popular, with only 11 percent of respondents saying they benefit from the AAMGA mid-year meeting and 21 percent for the NAPSLO mid-year event.

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Click here to read Guy Carpenter Fifth Annual Specialty Insurance Program Issuing Carrier Survey, Part I >>

Click here to read Guy Carpenter Fifth Annual Specialty Insurance Program Issuing Carrier Survey, Part II >>

Click here to have the rest of this series delivered to you by e-mail >>

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