Insurers turn attention to growing Latino market. (Property/Casualty: Marketplace).

The 2000 U.S. Census revealed dramatic growth in the Latino population within the United States, with experts estimating Latinos' buying power at $450 billion. At a one-day conference for the insurance industry in June, the Insurance Information Network of California offered strategies for reaching out to this population segment.

"Insuring E1 Sueno Americano" (Insuring the American Dream) featured experts in the areas of demographic research, media, marketing and advertising, who presented the latest information for developing communications programs directed at Latinos. Attendees learned that this burgeoning market is no longer heavily concentrated in the southwestern United States but that Latino populations are growing throughout the country In fact, of the top 10 counties showing Latino population growth, four are in North Carolina and three are in Georgia.

"Latinos own homes, autos and businesses and are in need of financial-services information to help protect their assets," said Candysse Miller, executive director of the Insurance Information Network of California. Attendees learned that as greater numbers of Latinos move into the middle class, they are not only becoming homeowners, but they are becoming a growing market for financial services.

Speakers such as Harry Pachon of the Tomas Rivera Policy Institute reminded insurers that this ethnic group is extremely family oriented and ripe for not only homeowners insurance but also for life insurance, since they believe in leaving a legacy for their children. The institute estimates the Hispanic auto insurance market at $6.5 billion annually.

The conference included presentations on the growth of the Latino middle class in California; how Spanish-language media have become a dominant ratings force; important elements for successful advertising and marketing campaigns; and the essentials for reaching the Spanish-language news audience.