The insurance industry plays a crucial role in offering financial protection to policyholders, households, and businesses from financial loss covered under insurance policies. The industry has an exceptional impact on both the economy of Illinois and the U.S. economy as a whole, offering well-paying, steady employment to thousands of Illinois residents.
The Illinois insurance industry’s employment, contribution to state GDP, premiums written, losses paid, and investments places it as one of the top-ranking industries in the nation.
These economic impact studies are conducted by the Katie School of Insurance and Risk Management at Illinois State University and examines the role of the insurance industry in Illinois with respect to its impact on the economy, including its role in state employment, loss identification and recovery, institutional investment in government and corporate bonds, and as a contributor to state tax revenues. The studies are funded in partnership with NABIP Illinois, BIG I Illinois, NAIFA Illinois, ILHIC, IAMIC, and IIA.
The Beneficial Role the of Insurance Industry in the State of Illinois studies are conducted by the ISU's Katie School of Business and are funded in part by NABIP Illinois, BIG I Illinois, NAIFA Illinois, ILHIC, IAMIC, and IIA.
