Drive a car? Rent or own a home? Visit a hospital? Manage a Fortune 500 company? Insurance is everywhere, but what is insurance?

With insurance, you're essentially paying to transfer the risk to someone else. Usually the risk involves paying the full cost of services (e.g., fixing your car in an accident, replacing stolen items, or paying for medical services). The more risk, the higher the premiums (as we all know!)

California’s insurance industry plays a central role in the state’s economy. Over $406 billion is invested by insurance firms in California's various markets in the form of government securities, corporate stocks and bonds, mortgage loans, and real estate holdings. The annual industry payroll tops $10 billion. In 2000, the insurance industry provided jobs for nearly a half million Californians - 385,000 in direct employment and 91,000 in indirect positions. Overall, insurance is a $106 billion industry in California, representing close to 9% of the state’s GDP.

Insurance Links

Wikipedia - Insurance

Insurance Information Institute

Insurance Journal publication

Business Insurance publication

Insurance Educational Association

Insurance Agents and Brokers of the West

California Department of Insurance