Insurance Underwriter, Commercial Property Salary

The average salary for an Insurance Underwriter, Commercial Property is $56,533 per year. The skills that increase pay for this job the most are Risk Management / Risk Control and Microsoft Excel.

$42,415 - $97,101
$42K
$57K
$97K
MEDIAN: $56,533
10%
50%
90%

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$10.10 - $25.34
$10
$18
$25
MEDIAN: $18.16
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
$42,415 - $97,101  
   
Bonus
$965 - $14,795  
Profit Sharing
$0.00 - $8,204  
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).
)
$41,634 - $101,683  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 281
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
$10.10 - $25.34  
   
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
$965 - $14,795  
   
Commission
$3,052  
Profit Sharing
$0.00 - $8,204  
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).
)
$41,634 - $101,683  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 17

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United States (change)

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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 Employer Salaries for Insurance Underwriter, Commercial Property

Popular Skills for Insurance Underwriter, Commercial Property

Pay by Experience Level for Insurance Underwriter, Commercial Property

Pay by Experience for an Insurance Underwriter, Commercial Property has a positive trend. An entry-level Insurance Underwriter, Commercial Property with less than 5 years of experience can expect to earn an average total compensation of $55,000 based on 160 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Insurance Underwriter, Commercial Property with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $60,000 based on 87 salaries. An experienced Insurance Underwriter, Commercial Property which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $62,000 based on 91 salaries. An Insurance Underwriter, Commercial Property with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $71,000 based on 43 salaries.

Pay Difference by Location

National Average: $58,096

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

Related Job Salaries

Key Stats for Insurance Underwriter, Commercial Property

Gender

Female
54 %
Male
46 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 33 votes.
Less than 1 year
5%
1-4 years
38%
5-9 years
18%
10-19 years
24%
20 years or more
14%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Insurance Underwriter, Commercial Property Salaries

Late-Career
▲23%

▲7%

▲3%

National Average
$58,000

▼5%

Skills That Affect Insurance Underwriter, Commercial Property Salaries


Microsoft Excel
▲12%

Commercial
▲7%

▲2%

Financial Analysis
▲2%

National Average
$58,000

Customer Service
▼10%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 33 votes.

Gender

Female
54 %
Male
46 %

Years of Experience

Less than 1 year
5%
1-4 years
38%
5-9 years
18%
10-19 years
24%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 90%
dental benefits
Dental: 77%
vision benefits
Vision: 65%
no benefits
None: 10%