Des Moines/Central Iowa insurance sector continues to grow (Hartford: appointed, 2014)

[atler8]

The first global Insurance Symposium is being held in Des Moines this week.
The insurance & insurance-related sector already employs 24,000 in the area & state & business leaders are trying to use the symposium as a means of continuing the growth in the sector.
Early this spring there was a series of articles in The Register about how Hartford, Ct. is slowly losing it's longtime grip on it's role as the nation's insurance capital & as it continues to bleed jobs, Hartford is looking over it's shoulder at what Iowa & Des Moines are doing right in growing their position in the industry.
Symposium markets Des Moines as insurance hub

[capitalcityguy]

This was a good get for Des Moines.

[Meemur]

CT is doing itself in as a state with the high taxes.

[atler8]

Yes, that is certainly a part of the problem Conecticut is having in retaining their insurance jobs along with cost of living issues, something at which central Iowa can beat the pants off of them at very easily.
The COS issue was mentioned in the article, and others I have seen that have dealt with the growht of the F.I.R.E. economy in central Iowa.
Also, recently The Tax Foundation put up data that gave Iowa good marks at improving it's tax burden in recent years as compared to other states.

[Meemur]

Originally Posted by atler8

I have seen that have dealt with the growth of the F.I.R.E. economy in central Iowa.

Oh, yes! It is like Columbus, OH when I moved there in 1997. I hope the trend continues. It's nice not to be surrounded by shuttered, bankrupt businesses.

[funksoulbro]

Des Moines' reliance on the insurance industry to fuel its own growth is quite fitting. The parasitic nature of insurance companies seems exactly parallel with the Des Moines mentality of siphoning resources from other places to enrich their own bottom line. It's no wonder those insurance companies feel right at home in a place like Des Moines.

Ever dealt with an insurance company before? They sure like to take things from you (usually money) but when it comes time for them to make good on a promise, they'll pull every trick in the book to avoid doing it. They're pathologically greedy and wholly unconcerned with anyone else outside of their small circle. Just like Des Moines, and its people.

As long as you have an unhealthy obsession with wealth and a complete disregard for your fellow human beings, you'll do quite well in the insurance industry. Des Moines is proof that such avarice can be turned into the philosophical foundation for an entire metropolitan area as well.

[tollfree]

Des Moines is a very uptight city, the insurance business probably has something to do with it. There might not be a more uptight, serious city in the world.

[atler8]

Well now that that's settled...we can move on.

[capitalcityguy]

Iowa's recent history of strong insurance commissioners has also helped the state's image within the industry. Previous commissioner, Susan Voss (appointed by Vilsack?) and now Nick Gerhart (Branstad appointee), had/have a strong understanding of both the regulatory and industry needs (which can be a delicate balancing act). Other states tend to use the Insurance Commissioner position as a stepping stone for higher political office (see Florida) and thus all kinds of bad outcomes are a possibility. Other states appoint individuals with little or no practical industry experience and thus they struggle to regulate an industry they do not understand.

[Iowabound14]

Where does most of the insurance industry live?