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Economic Impact in Iowa
Iowa’s Property and Casualty insurance industry has a significant impact on state’s economy. In March 2022, Iowa Insurance Institute retained Muller Economics (ME) to create an economic impact study to highlight the important role property and casualty insurance plays in the state. Key findings include:
- Mean wages for someone employed in Iowa’s property and casualty insurance industry was $71,280 for the latest year measured (2019) which is above the state average of $47,330.
- Of the more than 45,000 Iowa jobs attributed to the broader insurance category, 9,800 of them are directly attributable to the property and casualty (this excludes all the agencies, brokerages, and the like).
Other highlights from the study can be seen in the below graphic. The full economic impact study can be reviewed here.