Insurance Underwriter, Commercial Property Salary

The average salary for an Insurance Underwriter, Commercial Property is $51,213 per year. Most people move on to other jobs if they have more than 20 years' experience in this career. The skills that increase pay for this job the most are Financial Analysis and Microsoft Excel.

$37,818 - $81,383
(Median)
$38K
$51K
$81K
MEDIAN: $51,213
10%
50%
90%

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$10.14 - $25.87
(Median)
$10
$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
$37,818 - $81,383  
   
Bonus
$98.63 - $10,222  
Profit Sharing
$541 - $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).
)
$36,296 - $84,490  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 442
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
$10.14 - $25.87  
   
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 - $10,222  
   
Profit Sharing
$541 - $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).
)
$36,296 - $84,490  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 35
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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.

Common Career Paths for Insurance Underwriter, Commercial Property


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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

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Experience Affects Insurance Underwriter, Commercial Property Salaries

Late-Career
up arrow 38%

Experienced
up arrow 12%

Mid-Career
up arrow 11%

National Average
$52,000

Entry-Level
up arrow 10%

Skills That Affect Insurance Underwriter, Commercial Property Salaries

Financial Analysis
up arrow 32%

Microsoft Excel
up arrow 24%

Risk Management / Risk Control
0%

National Average
$52,000

Insurance
up arrow 1%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 78 votes.

Gender

Female
54 %
Male
46 %

Years of Experience

Less than 1 year
8%
1-4 years
33%
5-9 years
24%
10-19 years
23%
20 years or more
12%

Common Health Benefits

medical benefits Medical: 93% dental benefits Dental: 83%
vision benefits Vision: 64% employee benefits None: 6%
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