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Insurance Underwriter, Commercial Property Salary

The average salary for an Insurance Underwriter, Commercial Property is $50,948 per year. A skill in Financial Analysis is associated with high pay for this job.
$37,140 - $81,747
(Median)
37K
51K
65K
82K
MEDIAN: $50,947
10%
50%
75%
90%

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$11.74 - $26.18
(Median)
12
15
20
26
MEDIAN: $16.00
10%
25%
75%
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$29K$58K$87K
Salary
$37,140 - $81,747  
   
Bonus
$98.63 - $10,281  
Profit Sharing
$500 - $7,742  
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).
)
$35,637 - $85,211  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 408
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$15$30$45
Hourly Rate
$11.74 - $26.18  
   
Overtime
$23.36 - $29.48  
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$30K$60K$90K
Bonus
$98.63 - $10,281  
   
Profit Sharing
$500 - $7,742  
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).
)
$35,637 - $85,211  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 38
United States (change)

Job Description for Insurance Underwriter, Commercial Property

The essential function of a insurance underwriters for commercial properties is to determine risk factors and then write and present policies to agencies, using critical thinking skills to improve client retention. Generally, the underwriter holds a full-time position that requires a bachelor's degree in a relevant field. They need excellent knowledge of relevant laws and statutes pertaining to the insurance offerings. Many companies have a set of standards in place related to underwriting that must be strictly followed. For this reason, insurance underwriters for commercial properties must be detail-oriented and need to document all information and processes.

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Insurance Underwriter, Commercial Property 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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Pay by Experience Level for Insurance Underwriter, Commercial Property

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

Related Job Salaries

Experience Affects Insurance Underwriter, Commercial Property Salaries

Late-Career
up arrow 33%

Mid-Career
up arrow 13%

Experienced
up arrow 12%

National Average
$52,000

Entry-Level
up arrow 11%

Skills That Affect Insurance Underwriter, Commercial Property Salaries

Financial Analysis
up arrow 33%

National Average
$52,000

Risk Management / Risk Control
up arrow 3%

Insurance
up arrow 4%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 93 votes.

Gender

Female
52 %
Male
48 %

Years of Experience

Less than 1 year
6%
1-4 years
33%
5-9 years
25%
10-19 years
23%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 81%
vision benefits Vision: 61% employee benefits None: 7%