A Firm Foundation: How Insurance Supports the Economy

Credit insurance protects merchants, exporters, manufacturers and other businesses that extend credit to their customers from losses or damages resulting from the nonpayment of debts owed them for goods and services provided in the normal course of business. Credit insurance facilitates financing, enabling insured companies to get better credit terms from banks.

Credit Life, And Credit Accident and Health Insurance Direct Premiums Written, 2013-2022

($000)

Year Credit life Credit accident
and health
2013 $977,557 $968,691
2014 961,247 955,261
2015 915,437 910,645
2016 831,283 829,033
2017 807,136 838,004
2018 815,280 857,886
2019 830,040 889,327
2020 684,789 730,712
2021 740,023 762,128
2022 738,955 746,816

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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