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Insurance Underwriter, Casualty Salary

Earnings for Casualty Insurance Underwriters in the United States come in at around $56K annually on average. In the world of Casualty Insurance Underwriters, overall cash allowance can occasionally include more than $11K from bonuses and, in some exceptional cases, $17K from profit sharing, causing incomes to vary widely between $38K and $92K. Residence is the biggest factor affecting pay for this group, followed by experience level. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Most workers in this position report high levels of job satisfaction. Women make up a slight majority of Casualty Insurance Underwriters (58 percent) survey respondents.

$39,146 - $86,585
(Median)
$39K
$56K
$87K
MEDIAN: $56,414
10%
50%
90%

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$10.30 - $20.43
(Median)
$10
$15
$20
MEDIAN: $14.00
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$31K$62K$93K
Salary
$39,146 - $86,585  
   
Bonus
$0.00 - $10,963  
Profit Sharing
$350.00 - $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).
)
$38,125 - $91,889  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 244
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
$10.30 - $20.43  
   
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 - $10,963  
   
Profit Sharing
$350.00 - $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).
)
$38,125 - $91,889  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 13

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United States (change)


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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 42 percent, 40 percent, and 13 percent, respectively.

Pay by Experience Level for Insurance Underwriter, Casualty

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


Experience does not seem to be a strong driver of pay increase in this role. Those in the early stages of their career can expect to make around $51K; however, individuals with five to 10 years of experience bring in $61K on average — a distinctly larger sum. Casualty Insurance Underwriters who work for 10 to 20 years in their occupation tend to earn about $64K. Veterans who have worked for more than two decades do tend to make the most in the end; the median pay for this group is $69K.

Related Job Salaries

United States (change)

Experience Affects Insurance Underwriter, Casualty Salaries

Late-Career
up arrow 21%

Experienced
up arrow 13%

Mid-Career
up arrow 7%

National Average
$57,000

Entry-Level
up arrow 10%

Skills That Affect Insurance Underwriter, Casualty Salaries

Negotiation
up arrow 42%

Financial Analysis
up arrow 40%

Insurance
up arrow 13%

National Average
$57,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 59 votes.

Gender

Female
58 %
Male
42 %

Years of Experience

Less than 1 year
3%
1-4 years
32%
5-9 years
26%
10-19 years
23%
20 years or more
16%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 77%
vision benefits Vision: 62% employee benefits None: 11%
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