Careers And Employment
The insurance industry is a major U.S. employer, providing some 2.9 million jobs that encompass a wide variety of careers, from human resource administrators to public relations managers to financial analysts. Some jobs, such as claims adjusters, actuaries and insurance underwriters, are unique to the insurance industry. For information about the many career opportunities in the insurance industry consult the Bureau of Labor Statistics’ Career Guide to Industries, posted on the Web at http://www.bls.gov/ooh/.
Net Premiums Written, Property/Casualty And Life/Annuities
There are three main insurance sectors: property/casualty (P/C), mainly auto, home and commercial insurance; life/annuity, mainly life insurance and annuity products; and private health insurance, written by insurers whose main business is health insurance. Life/annuity and P/C insurers can also write health coverage.
Property/Casualty And Life/Annuity Insurance Premiums, 2023 (1)
Taxes
The insurance industry is a major source of tax revenue on the state and federal level. In 2019 property/casualty (P/C) and life insurers’ incurred federal and foreign taxes were about $18 billion dollars. P/C and life/annuity insurance companies also paid $24.7 billion in premium taxes in 2020, or $75 for every person living in the United States, according to the U.S. Department of Commerce.
