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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.
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(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 2022.
Source: U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Information System.
($000)
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Source: Regional Economic Information System, Bureau of Economic Analysis, U.S. Department of Commerce.