MarketStance Version 5.1 Adds BOP Estimates - Updates Growth Rates

The size of the Business Owners Package (BOP) market, long only guessed at by the property/casualty industry, has been quantified by MarketStance with the addition of separate BOP premium estimates in the Company's database Version 5.1. Additionally, the mid-year update also includes revised growth rate forecasts to reflect the impact of the 2005 hurricane season.

BOP
The new MarketStance BOP estimates include eight general account categories:

• Office
• Habitational 
• Retail
• Wholesale
• Restaurants
• Service
• Specialty Contractors
• Motels

With both the classification definitions and the size limits used in building these BOP estimates, MarketStance took care to produce data that was as broadly applicable as possible, even in light of the diverse approaches used by carriers toward this market segment. The focus has been on delivering a consistently defined, reliable BOP core, against which carriers can benchmark their books.

The newly released MarketStance Version 5.1 provides separate BOP estimates by territory to the county or ZIP code level, by business class and by account size.

The MarketStance BOP data provides the first-ever quantification of this market segment, which totals an estimated $17 billion in premium and represents 57% of the commercial multi-peril market recorded in the MarketStance data.

Forecasts
To reliably capture the impact of last year's hurricane season on growth rates so soon after the 2005 season, MarketStance has based its data on estimates that are more aggregate than those typically used, but which are still county specific.

Version 5.1 includes updated 2- and 4-year growth forecasts, which provides growth data for the 2004 data within the MarketStance database for the years 2004-2006 and 2004-2008.

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