The Private Insurance Industry
The Private Insurance Industry
•
Measured by any one of a number of standards, the
insurance industry in the U.S. is significant.
•
1.
7,900 insurance companies (insurers
)
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2.
2.3 million persons employed
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3.
$4 trillion in assets
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4.
13.6%
of Gross National Product
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Classification of Insurers
Classification of Insurers
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Insurers may be classified according to
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The type of insurance they sell
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Place of incorporation and licensing
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Their legal form of ownership
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The marketing system they employ
Types of Company by Product
Types of Company by Product
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1.
Life insurers
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write life, annuities, and health insurance
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about 1,600 companies in 2002
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2.
Property and Liability insurers
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write property & casualty (including health)
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about 3,400 companies in 2002
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3.
Health and Accident insurers
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400
monoline health insurers
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69
Blue Cross & Blue Shield organizations
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1,600 capitating providers (HMOs and PSOs)
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Insurers Classified by Place of
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- Spring '08
- BENNETT
- insurers, insurance industry, PRIVATE INSURANCE INDUSTRY, monoline health insurers, residual risk pools
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