Overview Of Insurance-Sector
Employment Changes
Insurance Subsector
P&C Direct
Reinsurers
Claims Adjusters
Agents/Brokers
Life Direct
Health/Medical
Direct
Title & Other Direct
Third-Party
Administration
All Other Insurance-Related Activities
Net Total
June 2011
Employment
457,800
27,300
48,500
644,600
371,100
July 2011
Employment
455,600
27,200
47,800
643,700
373,000
Change
-2,200
-100
-700
-900
+1,900
418,600
417,900
-700
66,400
65,800
-600
127,700
127,700
+0
53,900
54,300
+400
2,215,900 2,213,000 -2,900
Data are through July 2011 and are preliminary
(i.e., subject to later revision); not seasonally adjusted.
Source: Insurance Information Institute, www.iii.org
E Insurance-industry employment dropped by 2,900 jobs in July, according to
the latest U.S. Labor Department Bureau of Labor Statistics figures, with P&C-carrier employment falling by 2,200 jobs. Agents and brokers shed 900 jobs
in July after two previous months of “unusually strong increases,” according to
an Insurance Information Institute (I.I.I.) analysis. I.I.I. President Robert Hartwig
noted a month ago that June figures were likely a high point for the year for
carriers, as employment tends to decline in the second half of calendar years.
130
2010 Heavy-Equipment
(Non-Mower) Thefts
Top 10 Cities
121
Houston, TX
Phoenix, AZ
Conroe, TX
Las Vegas, N V
Sacra m ento, C A
Austin, TX
D allas, T X
Landover, M D
Sa n A nto nio, T X
Number Of Thefts
Miami, FL
62
59
59
57
47
47
46
44
E According to the National Insurance Crime Bureau, 2010 heavy-equipment thefts were most prevalent in Texas, followed by California, Florida,
North Carolina, Georgia, South Carolina, Oklahoma, Maryland, Ohio and
Alabama. These 10 states accounted for 58 percent—or 3,736—of all heavy-equipment thefts in the U.S. last year.
Source: National Insurance Crime Bureau
2010 Texas
Homeowners’ Direct-
Premiums Written
($ millions)
$1,694
733
727
450
305
283
214
153
Top 10 Homeowner’s
Insurers In Texas
State Farm
Allstate
Zurich/Farmers
USAA
Liberty Mutual
Travelers
Nationwide
Texas Farm Bureau
Mutual Group
Chubb
Hartford
2010
Market Share
28.9%
12.5%
12.4%
7.7%
5.2%
4.8%
3.7%
2.6%
116 2.0%
104 1.8%
Source: Highline Data and Moody’s
E As wildfires continue to flare throughout Texas, consuming more homes
and creating more losses for insurers, Moody’s says the blazes will have
a negative impact on insurers’ third-quarter results when combined with
other losses they’ve experienced during the third quarter. However, by itself,
Moody’s says that even if wildfire losses are three times more than the
1,600 homes confirmed lost so far, it is “small compared with the U.S.
property and casualty industry’s earnings capacity and capital base.”
Global Insured-Catastrophe Losses
(in USD billion, at 2011 prices)
120
100
BILLIONS
80
60
40
20
2005
2007 2006
Half Year
2009 2008
Full year
2010 2011
E 2011 first-half insured catastrophe losses increased 141 percent over
the same period last year, but the disasters claimed significantly fewer lives,
according to Swiss Re. Natural catastrophes and man-made disasters reached
an estimated $70 billion in the first half of the year, $41 billion more than the
$29 billion experienced over the same period last year. The disasters claimed
26,000 lives in 2011, far less than the 288,000 fatalities in the first half of
2010, primarily the result of the earthquake in Haiti.
Source: Swiss Re
