Commissioner announces California insurers collect $310 billion in premiums
News: 2018 Press Release
SACRAMENTO, Calif. — Insurance Commissioner Dave Jones announced today that California's annual insurance premium volume has increased to $310 billion. California is now the fourth largest insurance market in the world and remains the largest insurance market in the United States.
"As the regulator of the largest insurance market in the nation, I am committed to protecting consumers and making sure they have access to a healthy insurance market offering products to meet consumer and business needs," said Insurance Commissioner Dave Jones. "Insurance is the one product that touches our lives from the moment we are born to beyond our last breath. Whether it is health, auto, home, business, workers' compensation, disability or life, insurance is an integral part of our lives—we rely on it to protect ourselves, our families, our assets and our businesses. Insurance provides financial protection and peace of mind for millions of Californians."
Based on the most recent data available, California insurance companies now collect $310 billion in premiums every year. In California, there are more than 24 classes of insurance, sold by more than 1,300 companies. More than 410,000 agents, brokers, adjusters, and business entities are licensed to sell insurance in the state.
The California Department of Insurance, established in 1868, is the largest consumer protection agency in California. Insurers collect $310 billion in premiums annually in California. Since 2011 the California Department of Insurance received more than 1,000,000 calls from consumers and helped recover over $469 million in claims and premiums. Please visit the Department of Insurance website at www.insurance.ca.gov. Non-media inquiries should be directed to the Consumer Hotline at 800.927.4357. Telecommunications Devices for the Deaf (TDD), please dial 800.482.4833.