Revised Chp5 - The Private Insurance Industry Measured by...

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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 ) 2. 2.3 million persons employed 3. $4 trillion in assets 4. 13.6% of Gross National Product
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Classification of Insurers Classification of Insurers Insurers may be classified according to The type of insurance they sell Place of incorporation and licensing Their legal form of ownership The marketing system they employ
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Types of Company by Product Types of Company by Product 1. Life insurers write life, annuities, and health insurance about 1,600 companies in 2002 2. Property and Liability insurers about 3,400 companies in 2002 3. Health and Accident insurers 400 monoline health insurers 69 1,600 capitating providers (HMOs and PSOs)
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This note was uploaded on 04/17/2008 for the course RMI 2301 taught by Professor Bennett during the Spring '08 term at St. Johns Duplicate.

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Revised Chp5 - The Private Insurance Industry Measured by...

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