Insurance Industry Description

Companies that market and provide products and services, including life insurance, property/casualty insurance, surety insurance, title insurance, credit insurance, mortgage insurance, reinsurance, insurance brokerage, and risk management.

Summary

Army Gen. George Patton urged others to "Take calculated risks," but he wasn't in the insurance business. Traditionally, the most successful insurance firms generally take on the least risk. However, factors such as deregulation, globalization, climate change, and the events of September 11 and Hurricane Katrina helped to shake up the industry.

Insurance Industry Resources

• A.M. Best
  
• Independent Insurance Agents & Brokers of America
  
• Insurance News Net
  

Insurance Industry Terminology

• Fair Insurance Brokers: Glossary