The story of insurance
Insurance is something we ideally don’t have to think about. Whether it’s car insurance, home insurance or life insurance, we pay for it to have a financial safety net when something bad happens, but then hope we won’t have to use it. We may take for granted that it is accessible to us…until it’s suddenly harder to get.
Today, insurance is a complex industry, regulated by state governments. But how did this all come to be? Insurance has a rich and diverse history in the United States. The development of the insurance industry in the U.S. is closely tied to the nation's economic growth, social changes and responses to various risks.
This article explores the fascinating journey of insurance in the United States, from its humble beginnings to the multi-trillion-dollar industry we know today.