The economy wouldn’t be as strong
The property-casualty insurance industry employs approximately 2.3 million people in good-paying jobs. Property-casualty insurers also invest approximately $1.4 trillion within the stock exchange through stock, corporate and government bonds, and land mortgages.
“These investments are a serious source of borrowing for municipalities, states and corporations,” says Barry. “Without insurers’ investments, borrowing would be costlier , making many projects unaffordable.”
