IAM highlights National Small Business Week, strong impact of insurance companies in Michigan

Insurance companies represented by association contribute more than $16.5 billion to the state’s economy

LANSING – The Insurance Alliance of Michigan (IAM) is highlighting National Small Business Week, which takes place May 4-10, and the important role small businesses play in Michigan.

National Small Business Week acknowledges the critical contributions of America’s entrepreneurs and small business owners.

In Michigan, the insurance industry is composed of small businesses and helps other small businesses succeed, with several IAM member companies being small businesses themselves. In addition, even larger insurance companies support other small businesses by providing essential insurance products that help businesses keep the lights on and protect themselves in the event of a disaster or other unpredictable events. 

Property and casualty insurance companies represented by IAM, including their independent agents, contribute more than $16.5 billion to the state's economy and employ roughly 17,000 people. This also includes tens of thousands of independent agents working across the state. 

“Small businesses are the backbone of our state and it’s important that we support them both during National Small Business Week and all year long,” said IAM executive director Erin McDonough. “I am proud of the insurance professionals in our state for continuing to support this important industry and keep our economy moving and growing even during uncertain times.” 

IAM is a government affairs and public information association representing auto, home and business insurance companies in Michigan. For small business owners, having an insurance policy can provide protection from all major property and liability risks in one package or as separate coverages. Learn more on IAM’s website. 

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The Insurance Alliance of Michigan is a government affairs and public information association that represents auto, home and business insurance companies and related organizations operating in Michigan. Learn more about IAM and its members on Facebook, X or at insurancealliancemichigan.org.