Washington P/C Premiums Totaled $9.1 Billion in 2008

April 2, 2010

The insurance industry provides nearly 51,000 jobsi n Washington with about a $3.2 billion payroll, according to the Northwest Insurance Council and Insurance Information Institute.

In their latest report, “A Firm Foundation: How Insurance Supports the Washington State Economy,” the NIC and III said premiums by property/casualty companies totaled $9.1 billion in 2008. Life/health companies’ premiums were slightly higher at $10.7 billion.

Insurers paid $415 million in premium taxes in 2007.

The report includes state-by-state comparisons of taxes, number of companies, and natural disaster data. For example, Washington in 2008 had the seventh-highest number of acres burned by wildfires.

Was this article valuable?

Here are more articles you may enjoy.