Insurance Underwriter, Casualty Salary

Casualty Insurance Underwriters in the United States can expect to earn an average of $58K per year. 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. Experience level and the particular city each impact pay for this group, with the former having the largest influence. Most workers in this position 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 58 percent. Medical benefits are awarded to a large number, and a fair number earn dental coverage. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.

$40,635 - $89,870
(Median)
$41K
$58K
$90K
MEDIAN: $57,903
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
$40,635 - $89,870  
   
Bonus
$0.00 - $11,037  
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 - $95,478  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 239
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 - $11,037  
   
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 - $95,478  
Country: United States | Currency: USD | Updated: 2 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.


Salaries of relatively inexperienced workers fall in the neighborhood of $53K, but folks who have racked up five to 10 years see a notably higher median of $64K. Casualty Insurance Underwriters with one to two decades of relevant experience report an average salary of approximately $64K. Seasoned workers who boast more than two decades of relevant experience enjoy a median salary of $71K, which is substantially larger than the medians reported by folks with fewer years on their resumes.

Related Job Salaries

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Experience Affects Insurance Underwriter, Casualty Salaries

Late-Career
up arrow 22%

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 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 50 votes.

Gender

Female
58 %
Male
42 %

Years of Experience

Less than 1 year
3%
1-4 years
31%
5-9 years
27%
10-19 years
22%
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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