Potential for Growth and Development in the Insurance Industry: An Exploratory Research Project for the Industrial Development Division, Iowa Development Commission, 1973

(1973) Potential for Growth and Development in the Insurance Industry: An Exploratory Research Project for the Industrial Development Division, Iowa Development Commission, 1973. Iowa Economic Development Authority

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Abstract

The insurance industry has had an easily recognized impact upon the state's economy as a result of more than a billion dollars in premiums written and nearly a billion dollars in loss benefits paid; however, the economic impact goes far beyond this. The business of insurance affects long term savings of individuals, provides employment and income, pays taxes, purchases goods and services, and is one of the prime suppliers of capital for home ownership and for the expansion of industry, commerce, and pubic services. In addition to these important economic contributions, the insurance industry provides protection against virtually every known peril. The businessman, the homeowner, even the housewife has the greatest sense of security in the history of the world. This indispensable service has been of immense value in keepi.ng the economy moving; not only by protecting against losses, but by backstopping our extensive commercial and consumercredit system.