P&C Carrier Jobs Flat, Agent/Broker Jobs Up in November

NU Online News Service, Jan. 13, 12:51 p.m. EST

Property and casualty carrier employment remained flat in November 2011 relative to the month prior, and agent and broker employment in the month rose to its second-highest level in nearly two years, according to an Insurance Information Institute analysis of U.S. Bureau of Labor Statistics figures.

Total P&C carrier jobs stand at 452,300, which is down 8.3 percent, or 41,200 jobs, from July 2008, according to comments made by I.I.I. President Robert Hartwig last month.

The insurance industry overall added 2,900 jobs in November compared to October, with health insurers showing the largest gain in jobs with 1,600 for the month, followed by agents and brokers at 1,500. The BLS figures do not distinguish between life and health and P&C agents, and do not distinguish agents from brokers.

Agent and broker employment in November rose to 643,200 jobs, which Hartwig says is the highest number since June 2011, when the number of jobs was 644,600. Aside from June, agent and broker employment has not seen numbers as high as November 2011 since December 2009, when total employment was 647,900, Hartwig says in a commentary on the employment figures.

For reinsurers, employment was flat in November compared to October, with total jobs remaining at 27,500.

Claims adjusters added 300 positions, bumping total employment up to 48,400.

Third-party administrators shed the most jobs in the month, 1,000. Total employment for this subsector is down to 127,200.

Total industry employment is 2,212,300.

About the Author
Phil Gusman, PropertyCasualty360.com

Phil Gusman, PropertyCasualty360.com

Phil Gusman is Managing Editor of PropertyCasualty360.com. Prior to joining National Underwriter in 2008, he was Editor of Insurance Advocate. Gusman has also served as Associate Editor of Crackdown!, an insurance fraud publication, and Assistant Editor of Empire State Report, which covers New York politics. He graduated in 2002 from Plattsburgh State University in New York. Gusman may be reached at pgusman@summitpronets.com. Follow him on Twitter: pgusman and PC360_Markets

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