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Career Profile: Insurance Underwriters

Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

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

Job Outlook


Total Current Jobs:
119,400
Annual Openings:
8,300
Increase in Openings by 2030:
-2%
Annual Salary Range:
$43,210 - $129,550
Education Requirements:
Bachelor's degree