Leaders Look to Grow Indiana Insurance Industry

Indiana's insurance industry currently employs more than 57,000 Hoosiers. The Indiana Insurance CEO summit will include panel discussions. Indiana Department of Insurance Commissioner Jim Atterholt will also outline legislative proposals for the 2007 Indiana legislative session.

Source: Inside INdiana Business

Press Release

INDIANAPOLIS (November 14, 2006)—National and regional insurance executives, industry professionals, and government and higher education leaders will meet today to discuss Indiana’s current position and how the state can encourage future job growth in the insurance sector. The insurance industry in Indiana employs more than 57,000 Hoosiers and the state is home to more than 200 domiciled insurance carriers.

“Indiana is uniquely positioned to grow an industry that already provides the state with thousands of high-paying, skilled jobs. With our high-quality workforce, efficient regulation and low cost of doing business, we will continue to offer a uniquely competitive environment for the insurance industry,” said Nathan J. Feltman, Indiana Economic Development Corporation (IEDC) executive vice president.

The Indiana Insurance CEO summit, hosted by the Indiana Economic Development Corporation (IEDC), will hold a series of panel discussions, the first geared toward building the most attractive insurance environment in the country. Panelists will include WellPoint CEO Larry Glasscock and Conseco President Mike Dubes. The second panel will discuss workforce components to training and educating future industry leaders and will be lead by Ball State University President Jo Ann Gora, Ivy Tech Community College Executive Vice President Carol D’Amico and Indiana State University Gongaware Center Executive Director Terrie Troxell.

Additionally, Indiana Department of Insurance Commissioner Jim Atterholt will hold a discussion on successful partnerships between the industry and regulators, and outline legislative proposals for the 2007 Indiana legislative session.

“Governor Daniels has made creating an environment for growing Insurance jobs in Indiana a top priority. We believe having a prosperous insurance industry and yet still protecting the consumers are not mutually exclusive goals,” said Indiana Insurance Commissioner Jim Atterholt.

Indiana’s insurance industry contributed more than $5.3 billion to Indiana’s gross state product (GSP) in 2005, a 2.5 percent share of Indiana’s total GSP. The state also has the third-highest number of companies licensed to do business in the nation.

About IEDC
As a result of legislation passed by the Indiana General Assembly in 2005, the Indiana Economic Development Corporation has replaced the Department of Commerce as the premier entity charged with state economic development. The IEDC has a 12-member board chaired by Governor Mitch Daniels. Indiana Secretary of Commerce Michael S. Maurer is also president of the IEDC. For more information about IEDC, visit www.iedc.IN.gov.

Source: Indiana Economic Development Corp.