Editor's Note: This article originally appeared inNational Underwriter,P&C.
|Since the economic recession began in December 2007, employmentin the insurance industry has decreased across multiple sectors,including claim adjusting.
|That is according to the Insurance Information Institute's(I.I.I.) latest report, "InsuranceIndustry Employment Trends: 1990-2010," which examinesemployment trends for property and casualty, claim adjusters,reinsurers, agents, brokers, third-party administrators, andothers.
|I.I.I. noted that data in the report is through June 2010.
|The report found that overall employment in the P&Cinsurance industry is down by 27,000 jobs, or 5.5 percent, to464,100 since the recession began.
|The report also noted P&C insurance employment is down by17,700 jobs compared to June of 2009 but is up by 1,700 jobs fromMay of this year.
|The 0.4 percent increase in June could help reverse a trend ofdeclining P&C employment each month since August 2009, thereport said.
|Claim adjusting employment, however, has stayed depressed, having lost 8,500 jobs, or 16.3percent, since the start of the recession in Dec. 2007 to a totalof 43,500. Employment in this sector is down by 5,100 compared toJune 2009 but has not changed from May 2010.
|In reinsurance, I.I.I. said employment was down by 1,400 jobs,or 5.2 percent, to 25,500 since Dec. 2007.
|Compared to June 2009, employment in this sector is down by 7.6percent and is down by 0.4 percent from May 2010.
|Employment at insurance agencies and brokerages is down by48,800 jobs, or 7.2 percent, to 630,800 since Dec. 2007.
|Agent and broker employment is down by 3.1 percent compared toJune 2009 and up 0.2 percent from May 2010.
|There are now 51,400 fewer agents and brokers than there werethree years ago, the report noted.
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