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2016 | Doing Business in Connecticut 47 Insurance & Financial Services W hen it comes to a critical mass of talent in the insurance market, Connecticut maintains its centuries-old leader- ship position over other states. at longstanding preemi- nence has allowed Connecticut to maintain its position as a standard bearer for the industry as well as a leader in innovation in a market at the forefront of technological and economic disruption. ere are nearly 60,000 people employed in Connecticut's insurance industry, and that number has remained steady in the face of widespread economic upheaval. at number also represents the greatest percentage of insurance industry employment per capita of any state in the country, according to Connecticut's Insurance and Financial Services cluster. Long-term relevance "Insurance companies are really from all over the country now," said Frank Szilagyi, managing partner at Szilagyi & Daly, a Hartford- based firm that specializes in insurance law. "What's kept Connecticut relevant for a long time is the concentration of talent. We've got incred- ibly talented, smart people here who have worked in the industry for a long time." And though the headquarters of several insurance giants remain in Connecticut, the that talent has created smaller industry spinoffs, Szilagyi said. "One of the carriers I do work for is in Cheshire, the Housing Authority Insurance Group. ey've identified a niche. ey're smart people who have been able to identify a need, bring it to market and keep it in business," Szilagyi said. Insurance carrier employment makes up about 2.7 percent of the state's employment total, the highest percentage in the United States. e industry also makes up about 6 percent of the gross state product of Connecticut, placing it second only to Delaware in na- tional rankings. "at's how we can really lay claim to being the insurance capital," said Susan Winkler, the cluster's executive director. "It's important to Connecticut to wave the flag." It's a flag Connecticut has been waving since the United States was a fledgling republic still feeling its way into life as an independent economic power. Even before America gained independence, Hartford's insur- Continued on page 48 > IPHOTO/SHUTTERSTOCK.COM © MANDRITOIU Steady Returns State's insurance employment level is tops in the U.S. By Matthew L. Brown