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The word insurance dates back to the middle of the 15th century and is thought to derive from the

Anglo-Norman word enseurer (literally en make + seur sure). By the 16th century insurance was

widely understood to have its current meaning, replacing the archaic word assurance

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29 Insurance Industry Facts You Probably Never

Heard Of

inShare

InsuranceFiles has gathered some hidden, little known and fun facts about the insurance industry. Some

are statistics while others tell a funny story. We hope all of them shed a little light on the industry and

maybe even bring a smile to your face.

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. Farmers only sold car insurance to farmers for quite some time before branching out to other kinds of

auto insurance.

7. Insurance generates more than $1 trillion.

8. Property and Casualty (P&C) insurance is a $420+ billion industry.

9. Personal auto insurance is a $160 billion industry sector.

10. Life/health (L/H) insurance is a $500+ billion industry.

11. In 2009, insurance carriers and related activities totaled 3% of the GDP.

12. In 2009, there were 2,737 P&C and 1,106 L/H insurance companies.

13. In 2010, more than 2.2 million people worked in the insurance industry.

14. Twenty P&C insurance companies are listed on the 2010 Fortune 500 annual ranking of Americas largest

corporations.

15. There are over 3,000,000 new drivers a year, in the United States.

16. Paying Semi-Annually or annualy for insurance rather than monthly can save you a great deal on money.

17. Higher deductable lowers your premium.

18. Your credit score can affect the rate for your insurance.

19. 15% of husbands and 28% of wives in America have no life insurance.

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20. Statistics show that married drivers average fewer accidents than the rest of the population so policy

owners who are married often receive lower premiums than single persons.

21. Some companies have lower premiums for people who drive less and can provide annual milage reports.

22. If your car has a GPS than you can receive a discount from many insurance companies.

23. Rates may increase for senior drivers over the age of 65.

24. The top executives at the five largest for-profit health insurance companies in the United States combined

to receive nearly $200 million in total compensation in 2009.

25. The chairman of Aetna, the third largest health insurance company in the United States, brought in a

staggering $68.7 million during 2010.

26. Over the last decade, the number of Americans without health insurance has risen from about 38 million

to about 52 million.

27. According to one survey, approximately 1 out of every 4 Californians under the age of 65 has absolutely

no health insurance.

28. After a disaster, insurance companies may raise every ones rates. By not filing your claim, your personal

rate increase is paying for every one elses damage except yours.

29. Most states prohibit insurance companies from cancelling policies for filing claims arising from severeweather related events.

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Insurance Awareness Day: Fun Facts6/24/2013 12:00:00 AM

With Insurance Awareness Day quickly approaching, it may interest you to learn some fascinating and fun facts aboutinsurance.

Insurance can be purchased for a far greater number reasons than simply protection of a vehicle or one's health.There are some instances in which famous singers and athletes will actually have certain parts of their body insured.Perhaps you are wondering about the possibility of creating an insurance plan for a particular asset that you own. Ifso, then you can get in touch with a professional insurance agent today to discuss your options. You can read on tolearn about fun facts regarding insurance plans and perhaps feel inspired to have one of your own body parts insuredin the future!

1. Mariah Carey has her legs insured for over $1 billion.

Mariah Carey has an insurance plan that doesn't cover her incredible voice to the extent that her amazing legs arecovered. Under an insurance plan that Mariah Carey has, her legs are currently insured for more than $1 billion.

2. Musician Bruce Springsteen has his voice insured in London for over 3.5 million pounds.

Bruce Springsteen has gone to extreme lengths to make sure that his voice is insured. He has an insurance plan inLondon to cover his voice for over 3.5 million pounds.

3. David Beckham has insurance for each of his legs for over $35 million.

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David Beckham has an incredible insurance plan to cover the legs that enable him to be an awesome soccer player.He currently has an insurance plan that provides coverage of over $35 million for each leg. He definitely knows thevalue that his feet bring to the game of soccer in Europe.

4. Keith Richards has a finger insured for more than $1.6 million.

Keith Richards of The Rolling Stones has his middle finger insured for over $1.6 million. Now, that is one valuable

finger.

These are some of the weirdest facts surrounding insurance plans. The next time you are thinking about insuring apart of your body, don't hesitate to get in touch with an insurance agent and make your wish a reality.

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