Insurance Underwriter, Casualty Salary

Earnings for Casualty Insurance Underwriters in the United States come in at around $60K annually on average. Overall cash earnings for Casualty Insurance Underwriters stretch from $40K on the lower end to $101K near the top, and the heftiest packages can encompass around $12K from bonuses and $15K from profit sharing. Career duration is the biggest factor affecting pay for this group, followed by geography. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to the greater part. Most Casualty Insurance Underwriters like their work and job satisfaction is high. Participants in PayScale's salary questionnaire provided the particulars of this report.

$41,550 - $93,811
(Median)
$42K
$60K
$94K
MEDIAN: $60,282
10%
50%
90%

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$13.09 - $23.52
(Median)
$13
$19
$24
MEDIAN: $18.00
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
$41,550 - $93,811  
   
Bonus
$0.00 - $12,196  
Profit Sharing
$206.08 - $14,544  
Commission
$5,000  
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).
)
$40,331 - $100,509  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 224
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
$13.09 - $23.52  
   
Overtime
$29.06  
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
$0.00 - $12,196  
   
Commission
$5,000  
Profit Sharing
$206.08 - $14,544  
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).
)
$40,331 - $100,509  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 15
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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 takers who work as Casualty Insurance Underwriters typically report just a few professional skills. Most notably, facility with Negotiation and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 35 percent and 33 percent, respectively.

Pay by Experience Level for Insurance Underwriter, Casualty

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


For many Casualty Insurance Underwriters, extensive experience does not lead to significantly more money. Relatively untried employees who have less than five years' experience make $53K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $65K. Casualty Insurance Underwriters claiming one to two decades of experience make an estimated median of $66K. Casualty Insurance Underwriters who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $73K.

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Experience Affects Insurance Underwriter, Casualty Salaries

Late-Career
up arrow 23%

Experienced
up arrow 10%

Mid-Career
up arrow 9%

National Average
$60,000

Entry-Level
up arrow 11%

Skills That Affect Insurance Underwriter, Casualty Salaries

Negotiation
up arrow 35%

Financial Analysis
up arrow 33%

Insurance
up arrow 1%

National Average
$60,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 48 votes.

Gender

Female
59 %
Male
41 %

Years of Experience

Less than 1 year
3%
1-4 years
28%
5-9 years
25%
10-19 years
26%
20 years or more
18%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 77%
medical benefits
Vision: 65%
dental benefits
None: 9%
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