Insurance Underwriter, Casualty Salary

Earnings for Casualty Insurance Underwriters in the United States come in at around $57K annually on average. Total cash compensation for Casualty Insurance Underwriters runs from $40K to $95K depending on bonuses that can occasionally exceed $11K and profit sharing that can reach almost $17K. Career duration is the biggest factor affecting pay for this group, followed by geography. Women make up a slight majority of Casualty Insurance Underwriters (58 percent) survey respondents. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Job satisfaction for Casualty Insurance Underwriters is high. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$40,066 - $89,707
(Median)
$40K
$57K
$90K
MEDIAN: $57,374
10%
50%
90%

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$10.21 - $22.34
(Median)
$10
$15
$22
MEDIAN: $15.00
10%
50%
90%

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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$32K$64K$96K
Salary
$40,066 - $89,707  
   
Bonus
$0.00 - $11,401  
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).
)
$39,944 - $95,297  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 241
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
$10.21 - $22.34  
   
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 - $11,401  
   
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).
)
$39,944 - $95,297  
Country: United States | Currency: USD | Updated: 20 Jun 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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Survey results show that Casualty Insurance Underwriters typically report just a few professional skills. Most notably, facility with Negotiation, Financial Analysis, and Insurance are correlated to pay that is significantly above average, leading to increases of 39 percent, 37 percent, and 11 percent, respectively.

Pay by Experience Level for Insurance Underwriter, Casualty

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


The average worker who claims fewer than five years of experience earns around $53K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $64K. People with 10 to 20 years of experience make an average of about $64K in this role. Old hands who claim more than two decades on the job enjoy average earnings of $71K.

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Experience Affects Insurance Underwriter, Casualty Salaries

Late-Career
up arrow 23%

Mid-Career
up arrow 10%

Experienced
up arrow 9%

National Average
$58,000

Entry-Level
up arrow 10%

Skills That Affect Insurance Underwriter, Casualty Salaries

Negotiation
up arrow 39%

Financial Analysis
up arrow 37%

Insurance
up arrow 11%

National Average
$58,000

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 51 votes.

Gender

Female
58 %
Male
42 %

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: 77%
vision benefits Vision: 61% employee benefits None: 11%
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