2002 NAICS Definitions
524 Insurance Carriers and Related Activities

524 Insurance Carriers and Related Activities

Industries in the Insurance Carriers and Related Activities subsector group establishments that are primarily engaged in one of the following: (1) underwriting (assuming the risk, assigning premiums, and so forth) annuities and insurance policies or (2) facilitating such underwriting by selling insurance policies, and by providing other insurance and employee-benefit related services.

5241 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.

52411 Direct 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.

• Establishments primarily engaged in reinsuring life insurance policies are classified in Industry 524130, Reinsurance Carriers;
• Legal entities (i.e., funds, plans, and/or programs) organized to provide insurance and employee benefits exclusively for the sponsor, firm, or its employees or members are classified in Industry Group 5251, Insurance and Employee Benefit Funds; and
• HMO establishments providing health care services are classified in Industry 62149, Other Outpatient Care Centers.

524113 Direct Life Insurance Carriers

This U.S. 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, and accidental death and dismemberment insurance policies.

Cross-References.

• Establishments primarily engaged in reinsuring life insurance policies, disability income insurance policies, and accidental death and dismemberment insurance policies are classified in Industry 524130, Reinsurance Carriers; and
• Legal entities (i.e., funds, plans, and/or programs) organized to provide insurance and employee benefits exclusively for the sponsor, firm, or its employees or members are classified in Industry Group 5251, Insurance and Employee Benefit Funds.

Go to:

No change 1997 to 2002

2002 NAICS to 1987 SIC

1997 Economic Census

Bridge Between 1997 NAICS and SIC

2002 NAICS	1997 NAICS	1987 SIC	Corresponding Index Entries
524113	524113	6321	Accidental death and dismemberment insurance carriers, direct
524113	524113	6321	Accidental death and dismemberment insurance underwriting, direct
524113	524113	6311	Annuities underwriting
524113	524113	6311	Cooperative life insurance organizations
524113	524113	6311	Credit life insurance carriers, direct
524113	524113	6321	Disability insurance carriers, direct
524113	524113	6321	Disability insurance underwriting, direct
524113	524113	6311	Fraternal life insurance organizations
524113	524113	6321	Insurance carriers, disability, direct
524113	524113	6311	Insurance carriers, life, direct
524113	524113	6321	Insurance underwriting, disability, direct
524113	524113	6311	Insurance underwriting, life, direct
524113	524113	6311	Life insurance carriers, direct
524113	524113	6311	Savings bank life insurance carriers, direct

524114 Direct Health and Medical Insurance Carriers

This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) health and medical insurance policies. Group hospitalization plans and HMO establishments (except those providing health care services) that provide health and medical insurance policies without providing health care services are included in this industry.

Cross-References.

• HMO establishments that provide both health care services and underwrite health and medical insurance are classified in U.S. Industry 621491, HMO Medical Centers;
• Establishments primarily engaged in reinsuring health insurance policies are classified in Industry 524130, Reinsurance Carriers; and
• Legal entities (i.e., funds, plans, and/or programs) organized to provide health- and welfare-related employee benefits exclusively for the sponsor's employees or members are classified in Industry 525120, Health and Welfare Funds.

Go to:

No change 1997 to 2002

2002 NAICS to 1987 SIC

1997 Economic Census

Bridge Between 1997 NAICS and SIC

2002 NAICS	1997 NAICS	1987 SIC	Corresponding Index Entries
524114	524114	6324	Dental insurance carriers, direct
524114	524114	6324	Group hospitalization plans without providing health care services
524114	524114	6321	Health insurance carriers, direct
524114	524114	6324	Hospital and medical service plans, direct, without providing health care service
524114	524114	6324	Hospitalization insurance carriers, direct, without providing health care service
524114	524114	6321	Insurance carriers, health, direct
524114	524114	6324	Insurance underwriting, health and medical, direct
524114	524114	6324	Medical insurance carriers, direct
524114	524114	6324	Medical service plans without providing health care services

52412 Direct 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).

Cross-References.

• Establishments primarily engaged in reinsuring insurance policies are classified in Industry 524130, Reinsurance Carriers;
• Legal entities (i.e., funds, plans, and/or programs) organized to provide insurance and employee benefits exclusively for the sponsor, firm, or its employees or members are classified in Industry Group 5251, Insurance and Employee Benefit Funds; and
• Establishments primarily engaged in initially underwriting annuities and life insurance policies, disability income insurance policies, accidental death and dismemberment insurance policies, and health and medical insurance policies are classified in Industry 52411, Direct Life, Health, and Medical Insurance Carriers.

524126 Direct Property and Casualty Insurance Carriers

This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) insurance policies that protect policyholders against losses that may occur as a result of property damage or liability.

Cross-References. Establishments primarily engaged in reinsuring property and casualty insurance policies are classified in Industry 524130, Reinsurance Carriers.

Go to:

No change 1997 to 2002

2002 NAICS to 1987 SIC

1997 Economic Census

Bridge Between 1997 NAICS and SIC

2002 NAICS	1997 NAICS	1987 SIC	Corresponding Index Entries
524126	524126	6331	Agricultural (i.e., crop, livestock) insurance carriers, direct
524126	524126	6331	Automobile insurance carriers, direct
524126	524126	6351	Bonding, fidelity or surety insurance, direct
524126	524126	6331	Burglary and theft insurance carriers, direct
524126	524126	6331	Casualty insurance carriers, direct
524126	524126	6351	Credit and other financial responsibility insurance carriers, direct
524126	524126	6331	Crop insurance carrier, direct
524126	524126	6351	Fidelity insurance carriers, direct
524126	524126	6331	Fire insurance carriers, direct
524126	524126	6331	Homeowners' insurance carriers, direct
524126	524126	6351	Insurance carriers, fidelity, direct
524126	524126	6351	Insurance carriers, property and casualty, direct
524126	524126	6351	Insurance carriers, surety, direct
524126	524126	6351	Insurance underwriting, property and casualty, direct
524126	524126	6351	Liability insurance carriers, direct
524126	524126	6351	Malpractice insurance carriers, direct
524126	524126	6331	Marine insurance carriers, direct
524126	524126	6351	Mortgage guaranty insurance carriers, direct
524126	524126	6331	Plate glass insurance carriers, direct
524126	524126	6331	Property and casualty insurance carriers, direct
524126	524126	6331	Property damage insurance carriers, direct
524126	524126	6351	Surety insurance carriers, direct
524126	524126	6331	Workers' compensation insurance underwriting

524127 Direct Title Insurance Carriers

This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) insurance policies to protect the owners of real estate or real estate creditors against loss sustained by reason of any title defect to real property.

Cross-References. Establishments primarily engaged in reinsuring title insurance policies are classified in Industry 524130, Reinsurance Carriers.

Go to:

No change 1997 to 2002

2002 NAICS to 1987 SIC

1997 Economic Census

Bridge Between 1997 NAICS and SIC

2002 NAICS	1997 NAICS	1987 SIC	Corresponding Index Entries
524127	524127	6361	Guaranteeing titles
524127	524127	6361	Insurance carriers, title, direct
524127	524127	6361	Insurance underwriting, title, direct
524127	524127	6361	Real estate title insurance carriers, direct
524127	524127	6361	Title insurance carriers, real estate, direct

524128 Other Direct Insurance (except Life, Health, and Medical) Carriers

This U.S. industry comprises establishments primarily engaged in initially underwriting (e.g., assuming the risk, assigning premiums) insurance policies (except life, disability income, accidental death and dismemberment, health and medical, property and casualty, and title insurance policies).

Cross-References. Establishments primarily engaged in--

• Reinsuring insurance policies--are classified in Industry 524130, Reinsurance Carriers;
• Initially underwriting annuities and life insurance policies, disability income insurance policies, and accidental death and dismemberment insurance policies--are classified in U.S. Industry 524113, Direct Life Insurance Carriers;
• Initially underwriting health and medical insurance policies--are classified in U.S. Industry 524114, Direct Health and Medical Insurance Carriers;
• Initially underwriting property and casualty insurance policies--are classified in U.S. Industry 524126, Direct Property and Casualty Insurance Carriers; and
• Initially underwriting title insurance policies--are classified in U.S. Industry 524127, Direct Title Insurance Carriers.

Go to:

No change 1997 to 2002

2002 NAICS to 1987 SIC

1997 Economic Census

Bridge Between 1997 NAICS and SIC

2002 NAICS	1997 NAICS	1987 SIC	Corresponding Index Entries
524128	524128	6399	Bank deposit insurance carriers, direct
524128	524128	6311	Burial insurance carriers, direct
524128	524128	6331	Contact lens insurance, direct
524128	524128	6399	Deposit or share insurance carriers, direct
524128	524128	6311	Funeral insurance carriers, direct
524128	524128	6351	Homeowners' warranty insurance carriers, direct
524128	524128	6399	Pet health insurance carriers, direct
524128	524128	6399	Product warranty insurance carriers, direct
524128	524128		Warranty insurance carriers (e.g., appliance, automobile, homeowners, product), d

52413 Reinsurance Carriers

See industry description for 524130 below.

524130 Reinsurance Carriers

This industry comprises establishments primarily engaged in assuming all or part of the risk associated with existing insurance policies originally underwritten by other insurance carriers.

Cross-References. Establishments primarily engaged in--

• Initially underwriting annuities and life insurance policies, disability income insurance policies, accidental death and dismemberment insurance policies, and health and medical insurance policies--are classified in Industry 52411, Direct Life, Health, and Medical Insurance Carriers; and
• Initially underwriting various types of insurance policies (except life, disability income, accidental death and dismemberment, and health and medical insurance policies)--are classified in Industry 52412, Direct Insurance (except Life, Health, and Medical) Carriers.

Go to:

No change 1997 to 2002

2002 NAICS to 1987 SIC

1997 Economic Census

Bridge Between 1997 NAICS and SIC

2002 NAICS	1997 NAICS	1987 SIC	Corresponding Index Entries
524130	524130	6321	Accidental and health reinsurance carriers
524130	524130	6311	Life reinsurance carriers
524130	524130	6331	Marine reinsurance carriers
524130	524130	6324	Medical reinsurance carriers
524130	524130	6331	Property and casualty reinsurance carriers
524130	524130		Reinsurance carriers

5242 Agencies, Brokerages, and Other Insurance Related Activities

This industry group comprises establishments primarily engaged in (1) acting as agents (i.e., brokers) in selling annuities and insurance policies or (2) providing other employee benefits and insurance related services, such as claims adjustment and third party administration.

52421 Insurance Agencies and Brokerages

See industry description for 524210 below.

524210 Insurance Agencies and Brokerages

This industry comprises establishments primarily engaged in acting as agents (i.e., brokers) in selling annuities and insurance policies.

Cross-References. Establishments primarily engaged in underwriting annuities and insurance policies are classified in Industry Group 5241, Insurance Carriers.

Go to:

No change 1997 to 2002

2002 NAICS to 1987 SIC

1997 Economic Census

Bridge Between 1997 NAICS and SIC

2002 NAICS	1997 NAICS	1987 SIC	Corresponding Index Entries
524210	524210	6411	Agencies, insurance
524210	524210	6411	Brokerages, insurance
524210	524210	6411	Brokers' offices, insurance
524210	524210	6411	Insurance agencies
524210	524210	6411	Insurance brokerages
524210	524210	6411	Life insurance agencies

52429 Other Insurance Related Activities

This industry comprises establishments primarily engaged in providing services related to insurance (except insurance agencies and brokerages).

Cross-References. Establishments primarily engaged in--

• Managing the portfolio assets (i.e., funds) of others--are classified in Industry 523920, Portfolio Management;
• Acting as agents (i.e., brokers) in selling annuities and insurance policies--are classified in Industry 524210, Insurance Agencies and Brokerages; and
• Providing actuarial consulting services--are classified in Industry 54161, Management Consulting Services.

524291 Claims Adjusting

This industry comprises establishments primarily engaged in investigating, appraising, and settling insurance claims.

Go to:

No change 1997 to 2002

2002 NAICS to 1987 SIC

1997 Economic Census

Bridge Between 1997 NAICS and SIC

2002 NAICS	1997 NAICS	1987 SIC	Corresponding Index Entries
524291	524291	6411	Cause-of-loss investigators, insurance
524291	524291	6411	Claims adjusting, insurance
524291	524291	6411	Fire investigators
524291	524291	6411	Insurance claims adjusting
524291	524291	6411	Insurance claims investigation services
524291	524291	6411	Insurance settlement offices
524291	524291	6411	Loss control consultants

524292 Third Party Administration of Insurance and Pension Funds

This U.S. industry comprises establishments primarily engaged in providing third party administration services of insurance and pension funds, such as claims processing and other administrative services to insurance carriers, employee-benefit plans, and self-insurance funds.

Cross-References. Establishments primarily engaged in--

• Managing the portfolio assets (i.e., funds) of others--are classified in Industry 523920, Portfolio Management; and
• Providing actuarial consulting services--are classified in U.S. Industry 541612, Human Resources and Executive Search Consulting Services.

Go to:

No change 1997 to 2002

2002 NAICS to 1987 SIC

1997 Economic Census

Bridge Between 1997 NAICS and SIC

2002 NAICS	1997 NAICS	1987 SIC	Corresponding Index Entries
524292	524292	6371	Claims processing services, insurance, third-party
524292	524292	6371	Employee benefit plans, third-party administrative processing services
524292	524292	6411	Insurance claims processing services, third party
524292	524292	6371	Insurance fund, third party administrative services (except claims adjusting only
524292	524292	6371	Insurance plan administrative services (except claims adjusting only), third-part
524292	524292	6371	Pension fund, third party administrative services

524298 All Other Insurance Related Activities

This U.S. industry comprises establishments primarily engaged in providing insurance services on a contract or fee basis (except insurance agencies and brokerages, claims adjusting, and third party administration). Insurance advisory services and insurance ratemaking services are included in this industry.

Cross-References. Establishments primarily engaged in--

• Providing actuarial consulting services--are classified in U.S. Industry 541612, Human Resources Management and Executive Search Consulting Services;
• Acting as agents (i.e., brokers) in selling annuities and insurance policies--are classified in Industry 524210, Insurance Agencies and Brokerages;
• Insurance claims adjusting--are classified in U.S. Industry 524291, Claims Adjusting; and
• Third party administration services of insurance and pension funds--are classified in U.S. Industry 524292, Third Party Administration of Insurance and Pension Funds.

Go to:

No change 1997 to 2002

2002 NAICS to 1987 SIC

1997 Economic Census

Bridge Between 1997 NAICS and SIC

2002 NAICS	1997 NAICS	1987 SIC	Corresponding Index Entries
524298	524298	6411	Actuaries
524298	524298	6411	Insurance actuarial services
524298	524298	6411	Insurance advisory services
524298	524298	6411	Insurance coverage consulting services
524298	524298	6411	Insurance exchanges
524298	524298	6411	Insurance investigation services (except claims investigation)
524298	524298	6411	Insurance loss prevention services
524298	524298	6411	Insurance processing, contract or fee basis
524298	524298	6411	Insurance rate making services
524298	524298	6411	Insurance reporting services
524298	524298	6411	Insurance underwriters laboratories and standards services
524298	524298	6411	Medical cost evaluation services
524298	524298	6411	Rate making services, insurance

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