The average salary for an Insurance Underwriter with Risk Management / Risk Control skills in Chicago, Illinois is $59,664.
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$1k - $15k
$44k - $100k
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Job Description for Insurance Underwriter
An insurance underwriter helps assess risks, analyze payment and premiums related to those risks, and determine if a business or entity should be insured. Insurance underwriters typically work in an insurance company and must have strong accounting and statistical analysis skills. The underwriter may be asked to assess insurance companies' policy decisions that are outside the role or capability of field agents. They assess risk and either accept, reject, or modify potential policy applications…Read more
Insurance Underwriter Tasks
- Analyze new and renewal business, data, claim history, loss experience, and outcome of liability decisions.
- Underwrite, submit, approve or pend coverage amounts and premiums, and present decisions to management.
- Monitor existing policies for compliance with company guidelines.
- Manage underwriting territory and select new business based on analysis of their profitability.
Insurance Underwriter Job Listings
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Popular Skills for Insurance Underwriter
Skills in Insurance, Commercial and Financial Analysis are correlated to pay that is above average.
Pay Difference by Location
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Employees with Insurance Underwriter in their job title in New York, New York earn an average of 48.3% more than the national average. These job titles also find higher than average salaries in San Francisco, California (20.7% more) and Houston, Texas (10.3% more). The lowest salaries can be found in Phoenix, Arizona (12.7% less), Austin, Texas (7.9% less) and Charlotte, North Carolina (6.4% less).
Years of Experience
This data is based on 8 survey responses.
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