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Insurance Underwriter, Commercial Property Salary

The average salary for an Insurance Underwriter, Commercial Property is $51,055 per year. A skill in Financial Analysis is associated with high pay for this job.

$37,321 - $81,724
(Median)
$37K
$51K
$82K
MEDIAN: $51,054
10%
50%
90%

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$11.92 - $26.46
(Median)
$12
$17
$26
MEDIAN: $16.00
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$29K$58K$87K
Salary
$37,321 - $81,724  
   
Bonus
$97.44 - $10,270  
Profit Sharing
$507 - $7,891  
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).
)
$35,875 - $85,274  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 420
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
$11.92 - $26.46  
   
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
$97.44 - $10,270  
   
Profit Sharing
$507 - $7,891  
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).
)
$35,875 - $85,274  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 38

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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

United States (change)

Experience Affects Insurance Underwriter, Commercial Property Salaries

Late-Career
up arrow 37%

Experienced
up arrow 15%

Mid-Career
up arrow 13%

National Average
$52,000

Entry-Level
up arrow 12%

Skills That Affect Insurance Underwriter, Commercial Property Salaries

Financial Analysis
up arrow 32%

Risk Management / Risk Control
0%

Insurance
0%

National Average
$52,000

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 84 votes.

Gender

Female
53 %
Male
47 %

Years of Experience

Less than 1 year
7%
1-4 years
33%
5-9 years
24%
10-19 years
23%
20 years or more
12%

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 81%
vision benefits Vision: 62% employee benefits None: 7%