Employment

Contribution To State Economies

The insurance industry is a major contributor to state economies, providing employment, paying taxes and supporting community development.  In addition, insurance company claims payments help ensure the economic security of individuals and businesses, and help sustain a number of related industries.  The magnitude of these claims payments for major insurance lines is highlighted in the "Incurred Losses by State" section. Incurred losses are a measurement of insurance claims occurring within a fixed period.

 

Insurance Carriers And Related Activities Employment By State, 2015 (1)

 

State Number of employees State Number of employees
Alabama 37,524 Montana 8,712
Alaska 2,633 Nebraska 33,842
Arizona 65,141 Nevada 19,067
Arkansas 21,734 New Hampshire 17,877
California 307,212 New Jersey 101,744
Colorado 54,861 New Mexico 12,288
Connecticut 68,387 New York 197,029
Delaware 8,300 North Carolina 80,192
D.C. 4,566 North Dakota 10,777
Florida 212,509 Ohio 137,212
Georgia 103,297 Oklahoma 31,497
Hawaii 10,485 Oregon 33,958
Idaho 13,203 Pennsylvania 156,862
Illinois 152,766 Rhode Island 12,022
Indiana 62,742 South Carolina 41,933
Iowa 55,942 South Dakota 12,174
Kansas 39,792 Tennessee 62,775
Kentucky 43,623 Texas 270,730
Louisiana 35,878 Utah 26,593
Maine 13,750 Vermont 5,038
Maryland 48,407 Virginia 67,591
Massachusetts 81,755 Washington 55,526
Michigan 80,165 West Virginia 11,148
Minnesota 81,552 Wisconsin 79,910
Mississippi 18,809 Wyoming 3,437
Missouri 66,833 United States 3,181,800

(1) Total full-time and part-time employment.

Note: Does not match data shown elsewhere due to the use of different surveys. Data as of September 2016.

Source: U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Information System.

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Insurance Carriers And Related Activities Compensation By State, 2014-2015

($000)

  Annual payroll   Annual payroll
State 2014 2015 State 2014 2015
Alabama $2,498,244 $2,709,895 Montana $439,778 $455,039
Alaska 165,800 171,125 Nebraska 2,142,758 2,219,437
Arizona 3,744,194 4,249,752 Nevada 1,069,263 1,169,785
Arkansas 1,026,768 1,093,710 New Hampshire 1,516,849 1,618,499
California 22,386,375 24,068,807 New Jersey 10,374,306 11,202,401
Colorado 3,765,733 3,981,654 New Mexico 620,373 668,444
Connecticut 8,525,134 8,915,638 New York 20,384,812 21,023,412
Delaware 720,490 683,840 North Carolina 4,893,047 5,301,823
D.C. 629,197 705,818 North Dakota 550,398 569,841
Florida 13,276,314 14,526,790 Ohio 9,598,040 10,191,241
Georgia 7,404,292 7,767,628 Oklahoma 1,616,723 1,722,990
Hawaii 601,267 647,148 Oregon 2,253,313 2,441,202
Idaho 595,963 642,145 Pennsylvania 12,432,480 12,844,350
Illinois 12,008,621 13,411,758 Rhode Island 952,105 996,197
Indiana 3,980,429 4,207,941 South Carolina 2,294,404 2,448,029
Iowa 3,932,230 4,120,253 South Dakota 568,884 594,785
Kansas 2,491,948 2,611,522 Tennessee 4,001,014 4,108,274
Kentucky 2,823,530 3,119,472 Texas 17,270,892 18,745,943
Louisiana 2,105,332 2,107,917 Utah 1,353,540 1,502,945
Maine 994,848 1,032,795 Vermont 356,162 379,033
Maryland 3,796,819 3,947,497 Virginia 4,721,591 4,926,127
Massachusetts 7,967,065 8,541,823 Washington 4,007,888 4,205,186
Michigan 5,126,878 5,321,780 West Virginia 543,856 554,307
Minnesota 7,406,986 7,905,615 Wisconsin 5,489,072 5,785,376
Mississippi 845,952 881,489 Wyoming 155,385 159,219
Missouri 4,411,658 4,682,303 United States $232,839,000 $247,890,000

Source: U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Information System.

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