Page 12 - TMPAA_2023_Program Business Study SUMMARY

The TMPAA State of Program Business Study 2023

Amid a (not so) hard market,

administrators still reported

increases across many lines, but
at a slower pace.

The TMPAA Program Business Study 2023 still found
a greater percentage of administrators
reporting increases for most Lines of Business (LOBs).

The percentage of
administrators who The percentage of
reported increases administrators who reported
in rates rose for: increases in rates dropped for:

Liability Property
(+7%) (+6%) Financial & EPLI Cyber
Political Risk (-43%) (-18%) (-9%)

Package Professional
(+4%) Liability (+4%) Fidelity, Surety Medical
& Crime (-8%) Malpractice (-7%)

The percentage of
administrators who Management Automobile
reported increases was Liability (-5%) (-2%)
unchanged for excess/umbrella.

While the percentage of administrators reporting increases for
workers compensation increased in 2022, it still stood out because
rate decreases far outweighed increases (72% vs. 28%).

The LOBs with the highest share of respondents reporting increasing
premiums included automobile (96%), excess/umbrella (92%),
property (92%), liability (91%), and professional liability (90%).

11 www.targetmkts.com | 2023