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