Insurance agents in Massachusetts employed more than 9,000 full-time workers in 2017, paying out about $714 million in salaries and another $107 million in benefits, including health insurance and pension payments, a new survey found.

The survey, conducted by Willis Towers Watson and commissioned by the Massachusetts Association of Insurance Agents, drew responses from 175 of the association’s nearly 1,200 members.

Independent insurance agencies also paid $80 million in state and local taxes last year, according to the survey.

“Our members’ agencies have deep ties in their communities. They employ local people, support local businesses, and generate substantial tax revenue, all while serving consumers’ interests first,” MIAA President Nicholas Fyntrilakis said.

Online direct writers, he said, “often have little presence in the state aside from their websites and advertising campaigns and are focused on how quickly they can generate the next sale, irrespective of the needs of the consumer.”

Saying the economic impact of independent agents topped $1 billion last year, the association also reported rental spending of $36 million and $73 million on other expenses, such as office furnishings and supplies, advertising, legal and accounting services and security and construction.

Local Insurance Agents Claim $1B Impact in 2017

by State House News Service time to read: 1 min
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