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The social services market Social services provide more than $1.9 billion in premium The social services sector provides more than $1.9 billion in premium, according to 2005 data compiled by MarketStance, Middletown, Connecticut. Child care day services represent the largest niche within the sector, providing $543 million in premium. Workers compensation is the largest line of coverage for this sector, with $904 million in premium, followed by liability ($528 million) and commercial auto ($273 million). There are three states with more than $100 million in premium in this specialty: California’s social services sector accounts for $335 million in premium, followed by New York with $238 million and Pennsylvania with $101 million. Two states have more than 100,000 social service accounts: California (154,050) and New York (107,412). This is an area that continues to show sustained growth. The social services sector had average annual growth of 3.6% during the four-year period from 2001 to 2005, and the forecasted growth is 2.8% for the 2005 through 2009 period. For more information on social services markets, contact MarketStance at (888) 777-2587 or e-mail info@marketstance.com. * |
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