The property/casualty insurance industry is one of the most important yet least understood industries in the nation. Every person and business in America needs insurance but few understand how it works. As a result, the industry can make extraordinary claims and demands on policymakers – and policyholders – that go nearly unchallenged.
We’re here to help. Here are a few basic essentials for understanding the property/casualty insurance industry. (And by the way, if you want to see insurance lobbyists scamper out of the room, just hold up a copy of this and start reading.)