Amazing Insurance Industry Facts You Probably Never Heard Of


  1. Travelers is known to write the first liability car insurance policy in 1897.
  2. The first known car insurance policy was written in the UK in 1895.
  3. Prior to 1997 car insurance was pricier because people could not access the internet for better rates and had to rely on their local brokers.
  4. The Internet changed everything on how people shop for insurance.
  5. At first, every person was paying almost the same for insurance.  Then companies made changes to the $ they pay depending how they drive and this way they can get more customers by lowering their rates because they are better drivers.
  6. Insurance generates more than $1 trillion.

  7. Property and Casualty (P&C) insurance is a $420+ billion industry.
  8. Personal auto insurance is a $160 billion industry sector.
  9. Life/health (L/H) insurance is a $500+ billion industry.
  10. In 2009, insurance carriers and related activities totaled 3% of the GDP.
  11. In 2009, there were 2,737 P&C and 1,106 L/H insurance companies.
  12. In 2010, more than 2.2 million people worked in the insurance industry.
  13. Farmers only sold car insurance to farmers for quite some time before branching out to other kinds of auto insurance.
  14. If your car has a GPS than you can receive a discount from many insurance companies.
  15. Some companies have lower premiums for people who drive less and can provide annual milage reports.