From fires and floods to theft, workplace injuries and auto crashes, individuals and businesses face a variety of potentially catastrophic risks every day. Losses include property damage, injury and even death. By creating tools to manage uncertainty and loss, property and casualty insurers provide crucial personal and professional protection.

According to the American Insurance Association, the P&C insurance industry pays out more than $400 billion annually in policy benefits. To meet this demand, there are approximately 2,700 companies providing P&C insurance coverage in the United States. About 2.3 million people are employed by the industry, working for insurance companies, agencies and brokerages.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Jayleen R. Heft

Jayleen Heft is the digital content editor for Contact her at [email protected].

More from this author



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.