Northeast Indiana is where a ripe business environment primed for opportunity in the specialty insurance industry meets top talent. As the industry continues to expand, specialty insurance employers of varying product lines flock to Northeast Indiana to find success. Nearly 4,000 people are employed in our insurance industry. Fifty-three percent of jobs in Indiana’s insurance and finance industry can be attributed to the insurance field specifically (compared to the national average of 39%).
Major specialty insurance employers call Northeast Indiana home for good reason: Indiana consistently produces and attracts a high-performing talent pipeline. In fact, Indiana Tech piloted the region’s first-ever undergraduate certificate program, InsurTech, to equip students with knowledge of technology, cyber liability and risk management. No matter the service or risk, odds are that Northeast Indiana has an insurance provider for it.
Take MedPro Group, for example, the nation’s leading provider of healthcare liability insurance, Brotherhood Mutual Insurance Co. offering property and casualty insurance to Christian ministries across the U.S. or Ash Brokerage Corporation, the largest privately-held insurance brokerage in the nation – all of which are headquartered in Fort Wayne. Regardless of your specialty, know that you’re in good company; members of the Insurance Alliance of Northeast Indiana are committed to further growing the specialty insurance magnet that is Northeast Indiana.
“Northeast Indiana is our showpiece to attract and retain talent. We want the best and brightest to come—and to stay. When we look at the momentum this community has, it’s easy to see why we chose to build and grow here. Insurance is our business, but people are our passion. This place lets us unlock the potential of every individual and give back to the region in a meaningful way.” – Tim Ash, Chief Executive Officer at Ash Brokerage.
To learn more about the strength of the Specialty Insurance industry in Northeast Indiana, download a PDF with top industry data.
|Lincoln Financial Group||Insurance Products|
|Brotherhood Mutual Insurance Co.||Insurance Provider to Churches and Related Ministries|
|K&K Insurance Group, Inc.||Sports, Leisure and Entertainment Insurance|
|MedPro Group||Healthcare Liability and Student Health Insurance|
|Ash Brokerage Corp.||Insurance Broker|
|Physicians Health Plan||Northern Indiana Health Insurance|
|American Specialty Insurance & Risk||Insurance for Sports and Entertainment Business|
Source: Development Counsellors International (DCI), 2021
|Occupation||2020 NEI Employment||2020 NEI Median Annual Wages||2020 National Median Annual Wages||NEI/US|
|General and Operations Managers||5,753||$85,323||$100,371||85.0%|
|Office Clerks, General||9,248||$32,814||$34,046||96.4%|
|Secretaries and Administrative Assistants, Except Legal, Medical and Executive||3,624||$33,556||$37,642||89.1%|
|Customer Service Representatives||5,098||$31,745||$34,692||91.5%|
|Bookkeeping, Accounting, and Auditing Clerks||3,189||$36,092||$41,223||87.6%|
|First-Line Supervisors of Office and Administrative Support Workers||3,219||$53,255||$56,542||94.2%|
|Accountants and Auditors||2,614||$62,364||$71,611||87.1%|
|Project Management Specialists and Business Operations Specialists||1,105||$60,554||$73,496||82.4%|
|Market Research Analysts and Marketing Specialists||1,225||$50,156||$63,591||78.9%|
Source: Emsi 2021
Are you ready to land your business in a historically tried-and-true insurance sector? There’s a place for your business among the juggernauts.
We work for you to foster a business-friendly culture. We work closely with the Regional Chamber of Northeast Indiana to foster new and amended legislation to continuously improve our welcoming business climate and regulatory environment. With enhanced performance in efficiency, innovation and entrepreneurship, we work for you to develop creative ways to expand on past successes and to reposition for the future.
Why is the insurance industry so strong in Northeast Indiana? We’re so glad you asked.
Indiana has consistently been rated one of the top states for commercial lines by the Property and Casualty Insurance Association of America (PCIAA). Indiana was ranked 18th in the nation by the Institute for Legal Reform in terms of the overall lawsuit climate in a state.
As of January 2008, the Indiana premium tax rate was lowered to 1.3 percent, which minimizes a domestic’s retaliatory tax exposure when doing business in other states. Domestic insurers may opt to pay the premium tax or the corporate gross income tax.
The tort reform act of 1995 emphasizes personal responsibility over corporate responsibility—a legal protection limiting punitive damages for Hoosier businesses. Here are key elements of the law:
The Indiana Supreme Court has been more constructionist in its holdings than most states. It has supported the industry in rulings, impacting punitive damages, workers’ compensation exclusive remedy and in-house counsel.