In The Betterley Report, I try to estimate the written premium for the line I am covering; for our Private Company Management Liability Report, I have a challenge making an estimate, as many carriers keep the premiums by line, not by the bundled policy.
I had several readers ask me to try harder, so I have. Recently, I asked the participating carriers directly for their estimate of the market size; I received numerous answers. Here are the ones that I thought were most useful:
- $2 billion (this is from 2 major carriers + 1 reinsurer)
- $2.5 billion (from 2 carriers)
I believe about 1/2 of this premium is written by the 4 largest writers of MLI products.
So, there you have our estimate – $2-2.5 billion in gross written premium for U.S.-based Private Company Management Liability products. I’d be interested in your estimates (or comments).