Salary and Outlook

According to the US Department of Labor, there are 119,400 people employed as insurance underwriters in the United States. The median annual salary is $71,800. Entry level employees earn approximately $43,210 per year and senior employees earn approximately $129,550 per year.

Estimates do not include other potential benefits such as health insurance, overtime pay, or retirement benefits that may be offered by employers.

Job Duties

• Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
• Decline excessive risks.
• Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
• Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe, profitable distribution of risks, using reference materials.
• Authorize reinsurance of policy when risk is high.
• Evaluate possibility of losses due to catastrophe or excessive insurance.
• Review company records to determine amount of insurance in force on single risk or group of closely related risks.

Career List