Page 16 - TMPAA_2023_Program Business Study SUMMARY

The TMPAA State of Program Business Study 2023

Cyber take-up rates in

program business increased

between 2016 and 2022.

The percentage of administrators reporting

21%-30% 31%-40% 41%-50% 51%-60% Greater than 60%

in terms of percentage of insureds purchasing cyber cover
went up between 2018 and 2020.

Cyber take-up rates improved
in the past six years. Significantly
increased
Declined

Slightly
declined

1%-5% 6%-10% 11%-20% 21%-30% 31%-40% 41%-50% >50%

Consistent with the findings in previous years,
administrators reported higher cyber take-up
rates than their carrier counterparts.

15 www.targetmkts.com | 2023