Insurance Underwriter, Casualty Salary

Casualty Insurance Underwriters in the United States can expect to earn an average of $58K annually. With some bonuses approaching $11K and certain profit sharing proceeds approaching $17K, overall incomes of Casualty Insurance Underwriters spread between $40K and $95K depending on individual performance. Residence is the biggest factor affecting pay for this group, followed by career duration. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Most Casualty Insurance Underwriters report high levels of job satisfaction. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 57 percent. This report is based on responses to the PayScale salary survey.

$40,635 - $89,040

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$10.21 - $22.34

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$32K$64K$96K
Salary
$40,635 - $89,040  
   
Bonus
$0.00 - $11,074  
Profit Sharing
$400.00 - $16,500  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$40,213 - $94,572  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 239
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$16$32$48
Hourly Rate
$10.21 - $22.34  
   
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$32K$64K$96K
Bonus
$0.00 - $11,074  
   
Profit Sharing
$400.00 - $16,500  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$40,213 - $94,572  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 12
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Job Description for Insurance Underwriter, Casualty

An casualty insurance underwriter works to assess what risks to assign to insurance applications based on property such as cars, homes, businesses, and the like. Property and casualty underwriters typically specialize either in personal insurance or commercial policies. Generally, those in this position receive applications for insurance and identify the levels at which the insurer can afford to underwrite risks, and at what premium level the company can manage.

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Insurance Underwriter, Casualty Tasks

  • Manage underwriting territory and select new business based on analysis of their profitability.
  • Analyze new and renewal business, data, claim history, loss experience, and outcome of liability decisions.
  • Underwrite, submit, approve or pend loans, and present decisions to management.
  • Monitor existing policies for compliance with company guidelines.

Insurance Underwriter Job Listings

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Typical Casualty Insurance Underwriters report a focused set of job skills. Most notably, facility with Negotiation, Financial Analysis, and Insurance are correlated to pay that is significantly above average, leading to increases of 38 percent, 36 percent, and 10 percent, respectively.

Pay by Experience Level for Insurance Underwriter, Casualty

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Survey participants with less than five years' experience pocket $53K on average, but those with five to 10 years of experience enjoy a much bigger median of $65K. Casualty Insurance Underwriters who work for 10 to 20 years in their occupation tend to earn about $64K. Survey participants who have worked for more than two decades report bringing in $71K on average.

Related Job Salaries

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Experience Affects Insurance Underwriter, Casualty Salaries

Late-Career
up arrow 22%

Mid-Career
up arrow 11%

Experienced
up arrow 10%

National Average
$58,000

Entry-Level
up arrow 10%

Skills That Affect Insurance Underwriter, Casualty Salaries

Negotiation
up arrow 38%

Financial Analysis
up arrow 36%

Insurance
up arrow 10%

National Average
$58,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 48 votes.

Gender

Female
57 %
Male
43 %

Years of Experience

Less than 1 year
3%
1-4 years
30%
5-9 years
27%
10-19 years
23%
20 years or more
17%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 76%
vision benefits Vision: 61% employee benefits None: 11%
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