Iowa is a national leader in the insurance industry and ICR is home to a large concentration of employers in this cluster. Our insurance-friendly tax environment and the thousands of professionals graduating from the University of Iowa and other local colleges have created an environment where this industry has naturally grown and flourished. Today, there are a dozen large insurance employers and over 13,000 insurance professionals employed in this industry in our region alone.
A National Leader
Largest Employers in
Insurance and Finance
U.S. Bureau of Labor Statistics
Iowa’s insurance industry output as a percent of gross domestic product ranks 2nd among the 50 states. (U.S. Bureau of Economic Analysis, 2012)
Iowa does not charge premium taxes on sales of annuities or qualified life insurance plans.
Iowa does not assess any additional surtaxes or income taxes on insurance carriers.
Iowa is acknowledged as a leader in insurance regulation. The Iowa Insurance Division has earned a reputation for oversight that is efficient, responsive and fair.
Direct Life Insurance Carriers is 8 times more concentrated in the CR IC Corridor region than average.
A global provider of pensions, insurance, and assets management.
Provides tools to participants and employers, to promote good health, and reduce health plan expenses.
A registered investment advisory firm.
A company that focuses on truck and trailer leasing.
The second-largest private passenger auto insurance company in the United States.
A nationwide provider of commercial equipment and technology financing.
A healthcare revenue cycle management (RCM) and coding company that helps healthcare organizations across the United States improve cash flow and grow revenue.
Toyota Financial Services (TFS)
The finance and insurance brand for Toyota in the United States, offering retail auto financing and leasing through Toyota Motor Credit Corporation
Recognized as a leading provider of life insurance, retirement and investment solutions.
An entrepreneurial insurance and financial strategies firm focused on providing integrated solutions to clients.
Is in the business of writing property and casualty insurance and life insurance and selling annuities.
A national vehicle claims specialist.
Wells Fargo Financial Services
A diversified, community-based financial services company with leasing operations in Cedar Rapids.
Institutions that support this sector
Vaughan institute of Risk Management at the University of Iowa
Offers undergraduate students a Certificate in Risk Management and Insurance. The purpose of the RMI Certificate Program is to prepare University of Iowa students regardless of their chosen major for positions in risk management and/or insurance. It is a Global Centers of Insurance Excellence.
Center of Actuarial Excellence at the University of Iowa
One of only two in the U.S. that are over 100 years old. In 2010, it was one of the first to be certified as a Center of Actuarial Excellence (CAE) by the Society of Actuaries (SOA), after a detailed review process involving curriculum, faculty composition, graduate quality, connection to industry, and research/scholarship.