Extra info for insurance sector
The insurance sector is among the largest industries in the United States, generating more than $1.5 trillion in premiums each year. The term “insurance” is derived from the French word assurer, meaning “to ensure” or “to make certain.” America’s first insurance company was established in Charleston, South Carolina, in 1735. Today, the industry provides employment to over 2 million people across the country. On average, U.S. households spend around $1,500 annually on insurance coverage. Among all types, long-term care insurance is the most costly, often exceeding $5,000 per month.