Did you ever wonder how it all began?

Did you ever take a minute to think about how it all got started?

Not the 'Big Bang Theory' or the Chicken or the Egg.

We mean us, this thing, the American insurance industry?

Swiss Re conducted a study and found:

• Insurance employs about 2.23 million people in America
• Gross insurance premiums totaled $1.16 trillion
• More than 4,000 companies underwrite insurance in America

(You can check out more from this study here)

But that doesn't tell us how it all began?

Well, according to PropertyCasualty360, in the mid-18th century Ben Franklin and other firefighters founded the first, lasting insurance company.

To learn more about the birth of an industry and fun facts about some companies we all know and love click here!

The Impact of 2011 Record Year of Cat Losses on Rates

It should not be news to anyone that 2011 was a record year for catastrophe losses.

Lisa Parry Becker with Wm B Parry & Son Ltd out of Bucks County, PA discusses the impact these losses are having / will have on rates in her blog.  In a conversation with Becker she explained that she "decided to do some research since there were obvious questions coming from clients about rate increases."

Who knows what we will see in terms of cat losses for 2012, so for now let's take a look back on 2011 and see what impact those losses are having on us today.

2011 Natural Disasters: Rate Increases on the HorizonBy: Lisa Parry Becker February 11, 2012

Fire Safety

Wildfires have been all over the news.  From Pennsylvania to Long Island, New Jersey to Upstate NY the dry conditions have brought about warnings by the National Weather Service with several fires breaking out in the past few days.

Here are some links from your friends at Jimcor Agencies that can prove helpful for the insurance community and their clients:

US Fire Administration
http://www.usfa.fema.gov/citizens/home_fire_prev/wildfire/

FEMA
http://www.ready.gov/wildfires

NFPA – National Fire Protection Association
http://www.nfpa.org/categoryList.asp?categoryID=244&URL=Safety%20Information/Safety%20tips%20&%20fact%20sheets