The insurance business in the United States currently comprises approximately 1,700 life and health insurance companies and 3,300 property-casualty insurance companies. Although many of these companies are commonly owned and man- aged in ‘‘groups,’’ the number of separate insurance underwriting enterprises is still very large in comparison to most other countries. As of 1995, these insurers’ combined assets were $2.9 trillion, and their total premiums of $820 billion were the equivalent of almost 11 percent of the gross domestic product of $7.2 trillion. In addition to the insurers themselves, there are a multitude of related businesses and professions, including agency and brokerage operations; actuar- ial, legal, and accounting functions; and claims adjusting, consulting, adminis- tration, and the like. Total employment in the United States insurance industry is estimated at 2.2 million individuals.