Insurance Industry Employment Numbers – Better Than Last Year

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Insurance Industry Employment Numbers Still Not Great Figures

In late 2012, Workers Compensation insurance industry employment was stable. The numbers for Workers Comp actually were mixed in with property and casualty. A few insurance industry employment areas have actually reduced greatly over time.  Some of the reduction was due to the Bureau of Labor Statistics reclassifying certain lines of employment in the insurance industry.

The actual numbers of insurance employment has actually stayed the same for the last 15 years. The total number of insurance workers has totaled between 2.3 – 2.4 million during that time.

Third Party Administrator (TPA) employment has been a bright spot as the numbers have grown over the last twenty years steadily. Self insurance and other market drivers have caused this steady growth.

Two other bright post in the insurance employment numbers was the increase for brokers and  the health carrier segment – up 2.7% and 4.8% respectively. One has to assume the Affordable Healthcare Act was partially responsible for the growth in the health carrier segment.

The one area of concern may possibly be the life insurance segment. According to the Insurance Information Institute, the segment has declined a large amount over the years and has declined once again.

Diagram of Life Insurance Industry Employment U.S
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James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications

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