5241 Insurance Carriers

Subcategories of 5241 Insurance Carriers

• 52411Direct Life, Health, and Medical Insurance Carriers

  This industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) annuities and life insurance policies, disability income insurance policies, accidental death and dismemberment insurance policies, and health and medical insurance policies. Cross-References.

• 52412Direct Insurance (except Life, Health, and Medical) Carriers

  This industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) various types of insurance policies (except life, disability income, accidental death and dismemberment, and health and medical insurance policies). Illustrative Examples: Automobile insurance carriers, direct Property and casualty insurance carriers, direct Bank deposit insurance carriers, direct Title insurance carriers, real estate, direct Mortgage guaranty insurance carriers, direct Warranty insurance carriers (e.g., appliance, automobile, homeowners', product), direct Cross-References.

• 52413Reinsurance Carriers

  See industry description for 524130.

Other NAICS 2022 codes under 5241 Insurance Carriers

• 5242Agencies, Brokerages, and Other Insurance Related Activities

Frequently asked questions

What is NAICS 2022 5241?

NAICS 2022 5241 is "Insurance Carriers". This industry group comprises establishments primarily engaged in underwriting (assuming the risk, assigning premiums, and so forth) annuities and insurance policies and investing premiums to build up a portfolio of financial assets to be used against future claims. Direct insurance carriers are establishments that are primarily engaged in initially underwriting and assuming the risk of annuities and insurance policies. Reinsurance carriers are establishments that are primarily engaged in assuming all or part of the risk associated with an existing insurance policy (or set of policies) originally underwritten by another insurance carrier. Industries are defined in terms of the type of risk being insured against, such as death, loss of employment because of age or disability, and/or property damage. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves.

What does NAICS 2022 5241 include?

5241 Insurance Carriers contains 3 direct subcategories: 52411 Direct Life, Health, and Medical Insurance Carriers; 52412 Direct Insurance (except Life, Health, and Medical) Carriers; 52413 Reinsurance Carriers.

What is the parent category of 5241?

5241 Insurance Carriers sits under 5241 Insurance Carriers in the NAICS 2022 hierarchy.