Insurance Underwriter, Commercial Property Salary

The average salary for an Insurance Underwriter, Commercial Property is $56,062 per year. The skills that increase pay for this job the most are Risk Management / Risk Control and Microsoft Excel.

$41,860 - $95,740
$42K
$56K
$96K
MEDIAN: $56,062
10%
50%
90%

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$10.21 - $25.78
$10
$18
$26
MEDIAN: $18.13
10%
50%
90%

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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$50K$100K$150K
Salary
$41,860 - $95,740  
   
Bonus
$972 - $15,050  
Profit Sharing
$0.00 - $8,243  
Commission
$3,052  
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).
)
$40,458 - $100,008  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 295
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$25$50$75
Hourly Rate
$10.21 - $25.78  
   
Overtime
$31.50  
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$50K$100K$150K
Bonus
$972 - $15,050  
   
Commission
$3,052  
Profit Sharing
$0.00 - $8,243  
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).
)
$40,458 - $100,008  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 20

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Job Description for Insurance Underwriter, Commercial Property

The essential function of a insurance underwriters for commercial properties is to determine risk factors and then write and present policies to agencies, using critical thinking skills to improve client retention. Generally, the underwriter holds a full-time position that requires a bachelor's degree in a relevant field. They need excellent knowledge of relevant laws and statutes pertaining to the insurance offerings. Many companies have a set of standards in place related to underwriting that must be strictly followed. For this reason, insurance underwriters for commercial properties must be detail-oriented and need to document all information and processes.

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Insurance Underwriter, Commercial Property Tasks

  • Underwrite, submit, approve or pend loans, and present decisions to management.
  • Monitor existing policies for compliance with company guidelines.
  • 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.

Common Career Paths for Insurance Underwriter, Commercial Property


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Popular Skills for Insurance Underwriter, Commercial Property

Pay by Experience Level for Insurance Underwriter, Commercial Property

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

Pay Difference by Location

National Average: $57,268

Larger city markers indicate a job is popular in that location.

Related Job Salaries

Key Stats for Insurance Underwriter, Commercial Property

Gender

Female
53 %
Male
47 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 34 votes.
Less than 1 year
6%
1-4 years
38%
5-9 years
18%
10-19 years
24%
20 years or more
13%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Insurance Underwriter, Commercial Property Salaries

Late-Career
▲24%

Experienced
▲10%

Mid-Career
▲6%

National Average
$57,000

▼5%

Skills That Affect Insurance Underwriter, Commercial Property Salaries


Microsoft Excel
▲14%

Commercial
▲8%

▲3%

Financial Analysis
▲3%

National Average
$57,000

Customer Service
▼6%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 34 votes.

Gender

Female
53 %
Male
47 %

Years of Experience

Less than 1 year
6%
1-4 years
38%
5-9 years
18%
10-19 years
24%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 77%
vision benefits
Vision: 67%
dental benefits
None: 9%
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