The insurance industry in general has been challenged in business growth this year. The general outlook for the industry will be moderate. According to the United States Bureau of Labor Statistics, the total number of people working in the insurance industry is 2.377 millions. Of these, approximately 380,000 work in the life insurance sector alone. Mergers and downsizing have led to a decline in the job market in the insurance industry. Technological advances will also cause the insurance industry employment to continue to fall over the next decade despite potentially growing demand for insurance products. The Bureau of Labor Statistics expects the employment to grow at a rate of .9% until the year 200

3. Estimated damages to building in the New York area are approximately $25 billion. This will cause the insurance companies to increase their rates.

As you can tell from the graph, the insurance stock had very little change. Please note in the month of September, the stock went down. The stock for the month of November is presently on the decline side. Economists predict a slow steady increase in the months to come with some fluctuation due to premium quotes, etc.

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