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Insurance Underwriter, Casualty Salary (United States)

Casualty Insurance Underwriters in the United States take home approximately $55K per year on average. Final cash compensation to Casualty Insurance Underwriters varies from around $37K to approximately $90K; choice pay grades include potential for bonuses and profit sharing as high as $10K and $23K, respectively. Location and experience level each impact pay for this group, with the former having the largest influence. Job satisfaction is reported as high by the vast majority of workers. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 56 percent. A large number report receiving medical coverage from their employers and a fair number collect dental insurance.
Insurance Underwriter, Casualty Salary (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$37,773 - $84,826
(Median)
38K
45K
55K
69K
85K
MEDIAN: $55,102
10%
25%
50%
75%
90%
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Insurance Underwriter, Casualty Salary (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$10.67 - $21.25
(Median)
11
13
15
20
MEDIAN: $15.00
10%
25%
50%
75%
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National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$31K$62K$93K
Salary
$37,773 - $84,826  
   
Bonus
$0.00 - $10,282  
Profit Sharing
$515 - $23,270  
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).
)
$37,113 - $90,222  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 242
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$16$32$48
Hourly Rate
$10.67 - $21.25  
   
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$32K$64K$96K
Bonus
$0.00 - $10,282  
   
Profit Sharing
$515 - $23,270  
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).
)
$37,113 - $90,222  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 15
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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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Casualty Insurance Underwriters who responded to the survey report just a handful of professional skills. Most notably, facility with Negotiation, Financial Analysis, and Insurance are correlated to pay that is significantly above average, leading to increases of 46 percent, 43 percent, and 9 percent, respectively.

Pay by Experience Level for Insurance Underwriter, Casualty

Median of all compensation (including tips, bonus, and overtime) by years of experience.
For many Casualty Insurance Underwriters, extensive experience does not lead to significantly more money. Although individuals who have less than five years' experience earn $50K on average, people with five to 10 years benefit from a notably larger average of $58K. Casualty Insurance Underwriters who work for 10 to 20 years in their occupation tend to earn about $61K. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $68K.

Pay Difference By Location

Atlanta
up arrow 65%
New York
up arrow 26%
Dallas
up arrow 9%
National Average
$56,000
Larger circles over a city indicate a job is popular in that location.
With a pay rate for Casualty Insurance Underwriters that is 65 percent greater than the national average, Atlanta offers a comfortable salary for those in this profession. Casualty Insurance Underwriters will also find cushy salaries in New York (+26 percent) and Dallas (+9 percent).

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Experience Affects Insurance Underwriter, Casualty Salaries

Late-Career
up arrow 22%
Experienced
up arrow 9%
Mid-Career
up arrow 5%
National Average
$56,000
Entry-Level
up arrow 10%

Skills That Affect Insurance Underwriter, Casualty Salaries

Negotiation
up arrow 46%
Financial Analysis
up arrow 43%
Insurance
up arrow 9%
National Average
$56,000

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 67 votes.

Gender

Female
56%
female alumni
 
Male
44%
male alumni

Years of Experience

Less than 1 year
3%
1-4 years
31%
5-9 years
28%
10-19 years
19%
20 years or more
19%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 76%
vision benefits Vision: 60% employee benefits None: 11%