Celebrating Iowa’s Insurance Industry this National Insurance Day
Insurance is a key sector in the makeup of Iowa’s economy, known as the insurance capital of the nation. Boasting over 7,000 finance and insurance companies and a talented workforce of nearly 95,000 professionals, it’s the perfect spot for insurance companies and agents to thrive.
June 28 marks National Insurance Day, and the Iowa Insurance Institute is honored to play a significant role in stimulating our state’s economy and protecting Iowans. Our members play a vital role in keeping our communities safe, resilient, and thriving. Here are just a few of the many ways the III makes a difference.
Protecting the people of Iowa
Insurance keeps consumers safe from unplanned risks each day and oftentimes goes unnoticed. Whether it’s a vehicle accident, an accidental house fire, a flooded basement from a big storm, or an injury at work, unexpected hardships can come up at any moment. Insurance helps mitigate risk and potential loss from these hardships, providing vital financial protection.
For example, Iowa experienced a high volume of devastating flooding and tornadoes in 2024. Without the protection of coverage from property and casualty insurance, many Iowans would have suffered extreme loss and financial burdens.
When tragedy struck, the insurance industry was there to help pick up the pieces of our state.
Helping local businesses thrive
Just like consumers, businesses face unexpected challenges – natural disasters, accidents, and economic shifts that can threaten their operations. Insurance plays a critical role in helping businesses mitigate these risks, allowing them to recover more quickly and continue contributing to strong, resilient communities and a healthier economy.
In Iowa, one of the most vital sectors of our economy is agriculture. Our farms feed the state – and the nation – and serve as the backbone of countless rural communities. Protecting farms and agribusinesses with proper coverage is essential to keeping this vital industry running. From safeguarding equipment and crops to supporting families during tough times, insurance ensures that Iowa’s farming communities remain productive, stable, and prepared for the future.
Contributing to Iowa’s economy
Iowa has experienced significant growth in its business sector over the past decade, driven in large part by the strength and expansion of the insurance industry. Insurance in Iowa has become a cornerstone of the economy, stimulating job growth, fueling innovation, and supporting economic development projects. The industry’s importance is clear: Iowa’s GDP has grown 57% in the insurance and financial sectors alone.
Today, Iowa proudly holds the title of the nation’s insurance capital, ranking first among all 50 states in insurance industry output as a percentage of GDP. This achievement reflects not only the size of the industry but its contribution to the prosperity of our state.
The Iowa Insurance Institute is proud to represent members driving our state’s economy and safeguarding the lives of Iowans. We’re honored to play a vital role in strengthening the fabric of Iowa’s economy and communities. Happy National Insurance Day. Here’s to continued growth and many more years of making a difference across Iowa!
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