Insurance Underwriter, Casualty Salary

For Casualty Insurance Underwriters, annual average wages total $60K per year. Total cash compensation for Casualty Insurance Underwriters runs from $40K to $101K depending on bonuses that can occasionally exceed $12K and profit sharing that can reach almost $15K. Experience level and the particular city each impact pay for this group, with the former having the largest influence. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to a majority. Job satisfaction is high and work is enjoyable for most Casualty Insurance Underwriters.

$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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Typical Casualty Insurance Underwriters report a focused set of job 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.


Casualty Insurance Underwriters do not generally earn higher incomes from more experience in the field. Workers in their first five years can expect to earn $53K, but people who have been around for five to 10 years earn a noticeably bigger sum of $65K. Casualty Insurance Underwriters with one to two decades of relevant experience report an average salary of approximately $66K. After two decades in the workforce, the average Casualty Insurance Underwriter generally earns more than ever; median pay for this group is estimated at $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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