North Dakota’s economy is weak Hold Back P / C growth
North Dakota to 642,200. More than 84 percent of the adult population were graduates of high schools and deserves to approximately 22 per cent had a Bachelor’s degree or more. The capital, Bismarck, has a population of 55532nd
From the viewpoint of a working relationship, the main industry in North America Dakota are:
Employment in North Dakota
On the injury / accident insurance perspective, North Dakota accounted for 1.1 billion dollars in direct written premiums during the year 2003. Country of the aggregate was $ 445 billion. North Dakota’s Agenda 2003, loss and defence policy and the costs of mitigation costs of 57.6 per cent rate was significantly lower than the value of the national report comparing 2003 from 67.6 percent. It was interesting to observe that North Dakota’s owner reports loss for calendar 2003 was 25 percent compared to the national average of 61.2 per cent. Homeowner insurance premium included 8 percent1 P / C Premium written in North Dakota, compared to 10.8 percent of the country.
What surprised me most, that North Dakota farmowners insurance premium for the calendar year 2003 was $ 44.9 million. I was expecting less. But in a 5299 State of agriculture, fisheries and forestry employees, that maybe just.
The North Dakota economy is stagnating. The number of civilian employees of nearly half the population of North Dakota. It is distributed as follows:
North Dakota’s civilian population occupied
Given the anticipated increase in the number of jobs are located in northern South Dakota and the need for diversification of the economy of North Dakota, I do expect that the growth rate of North Dakota’s P / C instead of the insurance market, measured by direct premium written, that the delay growth rate experienced on a national basis.
Premium and loss of data by the State Line
Click on the image for greater Chart
Joseph L. Petrelli is president and founder demonstration Tech Inc., Columbus, Ohio-based on financial analysis and actuarial services company. He is a member of the Casualty Actuarial Society, American Academy of Actuaries and the Conference of Actuaries in Public Practice.
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