State Farm Insurance announces intentions to recruit 3,000 new hires

State Farm Insurance has announced that it will be hiring 3,000 new employees across the United States and Canada in order to fill a number of positions where there had been open positions (those unfilled after people left) throughout the recession, as well as to add an additional 900 agents. The insurer, based in Bloomington, Illinois, has revealed that it is now accepting applications for these new jobs, which will primarily be for positions in customer service, information technology, and claims. This new wave of hiring will boost the workforce…

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Jobs in the insurance industry are slowly climbing

According to data released by the U.S. Bureau of Labor Statistics (BLS), following a small decline in jobs in November 2011, there was an overall increase of 3.3 percent in the insurance industry in December, as 3,300 new jobs were added in the last month of the year. The report released by the BLS states that in November, there was a decrease by 100 jobs in the industry, which was linked – for the most part – to health (falling to 420,700 in a drop of -0.8 percent); property/casualty (falling…

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Fitch Ratings publishes its 2012 outlook report for American insurance brokers

Fitch Ratings has just announced the results of the analysis of their data for revenue and earnings increases for American insurance brokers in 2012, and that they have shown that their figures will likely equal or top those that were reported from January through September 2011. However, they also indicated that the basic nature of competition of the marketplace for property & casualty insurance, and the lukewarm recovery of the global economy will continue to provide a struggle for more significant growth and operating performance. Top-line increases may be able…

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Insurance industry sheds jobs in some sectors while adding to others, according to III report

The Insurance Information Institute (III) has released a new report drawing upon data from the U.S. Department of Labor. The report touches upon the volatility seen in the property/casualty insurance business in October of this year. According to the report, the property/casualty sector performed poorly in terms of employment while other sectors saw promising growth. Overall, the report highlights the turbulent year the insurance industry has faced as a whole and suggests that the trend can continue throughout next year depending on the economic climate. The III notes that 900…

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Insurance Information Institute reports on job loss and gain in the insurance industry

Despite record profits this year, the insurance industry continues to shed jobs. The Insurance Information Institute has released a new report highlighting the losses in the property/casualty insurance sector. Signs of an improving economy may not be enough to help the industry keep its workforce employed, especially when confronted with costly losses due to this year’s natural disasters. The Institute’s report relied on data collected by the U.S. Labor Department’s Bureau of Labor Statistics. Apart from a still turbulent economic climate, the industry has been downsizing as a result of…

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Allstate’s 2011 agency owners and salespeople to grow by over 230

Michigan’s sixth largest car insurance provider, Allstate, has announced that it will be appointing 35 new agency owners this year, in addition to hiring in excess of 200 licensed sales employees. The new agency offices will be located in Lansing, Metro Detroit, Grand Rapids, Ann Arbor, Flint/Saginaw, and Kalamazoo. Agency sales leader for Michigan, Chris Markey, released a statement which said that they have identified a sizeable “opportunity in the current economy to attract entrepreneurs and mid-career, mid-level managers who are looking for a business opportunity with a recognized brand.”…

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Tennessee legislation brings insurance jobs and more

The Tennessee State Government is expected to make changes to its laws regarding captive insurance this week. A bill that would allow the formation of new captive insurance companies is on its way to Governor Bill Haslam’s office, where it is likely to receive his signature and be passed into law.  The state has not passed any new legislation regarding captives since 1990, which fostered in 16 new companies. According to legislators, the bill will not only bring jobs to the state, but also provide insurance companies more incentive to…

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