What are the main sectors of the insurance industry?

There are four main sectors of the Insurance industry, all with different types of insurance. These include:

• Life amp; Health Insurance: this sector covers life and annuities, and health and disability, two major and common insurance types in the U.S. In general, these insurances are extremely important because they pertain to people's lives.

  Life insurance provides a death benefit when a family member passes, while health insurance provides coverage for sickness and injury.

• General Insurance: general insurance includes some of the most popular insurance types, like property and casualty insurance. This insurance type and others in the sector can cover anything from losses from disasters to auto accidents, which allows victims to resume using their properties when these incidents occur.

• Specialty Insurance: specialty insurance mostly revolves around financial activities and includes insurance types that protect clients and lenders from shady contractors or borrowers.

• Reinsurance: This sector aims to protect insurers from catastrophic losses, aka, Insurance for insurance companies, like one big circle.