8/9/2019 29 Insurance Industry Facts You Probably Never Heard Of

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29 Insurance Industry Facts You Probably Never Heard Of

Fun Insurance Facts you probably never have heard

InsuranceFiles has gathered some hidden, little no!n and fun facts about the

insurance industry" #ome are statistics !hile others tell a funny story" $e hope all of

them shed a little light on the industry and maybe even bring a smile to your face"

%"&ravelers is no!n to !rite the first liability car insurance policy in %'9("

2"&he first no!n car insurance policy !as !ritten in the )* in %'9+"

"Prior to %99( car insurance !as pricier because people could not access the internet

for better rates and had to rely on their local broers"

-"&he Internet changed everything on ho! people shop for insurance"

+".t first, every person !as paying almost the same for insurance" &hen companies

made changes to the / they pay depending ho! they drive and this !ay they can getmore customers by lo!ering their rates because they are better drivers"

0"Farmers only sold car insurance to farmers for 1uite some time before branching out

to other inds of auto insurance"

("Insurance generates more than /% trillion"

'"Property and asualty 3P45 insurance is a /-267 billion industry"

9"Personal auto insurance is a /%06 billion industry sector"

%6"8ifehealth 38H5 insurance is a /+667 billion industry"

%%"In 2669, insurance carriers and related activities totaled : of the ;

8/9/2019 29 Insurance Industry Facts You Probably Never Heard Of

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companies"

2"?ates may increase for senior drivers over the age of 0+"

2-"&he top e@ecutives at the five largest for>profit health insurance companies in the

)nited #tates combined to receive nearly /266 million in total compensation in 2669"

2+"&he chairman of .etna, the third largest health insurance company in the )nited#tates, brought in a staggering /0'"( million during 26%6"

20"Over the last decade, the number of .mericans !ithout health insurance has risen

from about ' million to about +2 million"

2(".ccording to one survey, appro@imately % out of every - alifornians under the age

of 0+ has absolutely no health insurance"

2'".fter a disaster, insurance companies may raise every one=s rates" Ay not filing your

claim, your personal rate increase is paying for every one else=s damage e@cept yours"

29"Bost states prohibit insurance companies from cancelling policies for filing claims

arising from severe !eather related events"