How Many Jobs Are Available In Property-Casualty Insurers
Every year, hundreds of jobs in insurance are available to those who look for it. The property and casualty industry plays a major role in the American economy. What is property and casualty insurance all about? What can you expect to earn as a property and casualty insurance salesperson? We will answer all of these questions.
Property-Casualty Insurance Jobs
The property-casualty insurance industry is a major source of jobs for more than 3.2 million people in the United States. The following are some key statistics on the industry:
- Property-casualty insurance accounts for about one-third of all U.S. workers employed in the insurance industry, according to the National Association of Insurance Commissioners (NAIC).
- Property-casualty insurers reported a record $10.5 billion in profits in 2015, up 9 percent from 2014, according to NAIC data.
- Insurance companies employ about 745,000 people in California and account for $5 billion in wages paid out each year.
How Many Property-Casualty Insurance Jobs Are Available?
The Bureau of Labor Statistics (BLS) projects that there will be approximately 425,000 people employed in the property-casualty insurance industry by 2024. This represents an average annual growth rate (AAGR) of 2.6%.
In addition to these direct employees, there are also indirect employees who work for companies that provide services to P&C insurers such as law firms or insurance agencies. These indirect jobs are often included with property-casualty employment numbers when calculating unemployment rates for an area since they provide vital support services for insurers on a daily basis.
Entry-Level Property-Casualty Insurance Jobs
The property and casualty insurance industry is a vital part of the economy. It serves as a critical line of defense against unforeseen events, such as natural disasters, fires and floods. As a result, there are many entry-level jobs available in the property-casualty insurance industry. Additionally, there are opportunities for advancement within this field as well.
Entry-level jobs in this sector may require applicants to have a bachelor’s degree in business administration or accounting. However, some employers will accept candidates who have completed an associate’s degree program in finance or insurance. In addition to having the required education, applicants should also possess excellent analytical skills and strong verbal and written communication abilities.
The percentage of women working in this industry is growing every day.
The property-casualty insurance industry employs thousands of people, many of whom work in executive, administrative and managerial positions. The number of jobs available in the insurance industry is expected to increase by 7 percent from 2016 to 2026, according to the Bureau of Labor Statistics (BLS). This rate is higher than the average for all industries.
The percentage of women working in this industry is growing every day. Women currently make up about one-third of the workforce in property/casualty insurance companies. However, there are still some barriers preventing women from entering some areas of the industry. For example, only about 10 percent of claims adjusters are women.
Female employees account for 44% of people who are employed as agents and brokers.
The property-casualty insurance industry is big. It has about 1.4 million jobs, according to the Bureau of Labor Statistics.
The industry is also diverse. Women account for 44% of people who are employed as agents and brokers, and they make up more than half of all insurance company employees.
In addition to working in offices, many insurance salespeople work from home. The BLS estimates that about 80% of them do so at least part time, which makes sense because many people want to be able to sell insurance while still being available for family obligations.
There are approximately 6,000 property-casualty outfits operating in the United States.
There are approximately 6,000 property-casualty outfits operating in the United States. Property and casualty insurers write about 60 percent of all insurance in the United States, according to the Insurance Information Institute.
There are several types of property-casualty insurance, including:
- Automobile insurance – Covers damages to a car or other vehicle, as well as liability for injuries caused by the insured driver’s negligence.
- Homeowners’ insurance – Covers damage to or loss of a home and its contents due to fire, wind and other perils.
- Commercial property insurance – Covers damage or loss of commercial property such as office buildings, warehouses, factories and retail stores.
- Business interruption coverage – Helps pay expenses if your business is shut down due to a natural disaster or other covered event.
This industry continues to be one of the largest employers across the country.
The property-casualty insurance industry continues to be one of the largest employers across the country. In 2015, the industry employed more than 1.3 million people, according to an analysis by the National Association of Insurance Commissioners (NAIC).
The NAIC report found that in 2015:
- There were approximately 9.7 million jobs in the U.S. insurance industry excluding life insurance;
- There were approximately 1.3 million jobs in property-casualty insurance; and
- Property-casualty insurers accounted for more than 20% of all employees in the U.S. insurance industry excluding life insurance
Property-casualty insurers provide employment for more than 2 million people. The industry is one of the largest employers in the U.S., accounting for 5 percent of all private sector jobs, according to the Insurance Information Institute.
Property-casualty insurers are businesses that specialize in insuring property damage and losses from liability lawsuits. They also sell casualty products to protect against losses due to fire, flood and other events.