Insurance Underwriter in Chicago, Illinois Salary

How much does an Insurance Underwriter make in Chicago, IL? In Chicago, an Insurance Underwriter earns approximately $63,941 per year on average. This is 14% above the national average for an Insurance Underwriter which is $55,095 per year. Salaries for an Insurance Underwriter in Chicago range from $40,268 annually to $84,430 annually. Total Annual Compensation, which includes salary and bonus for an Insurance Underwriter in Chicago ranges from $39,403 to $98,633 annually. Among those reporting, there is an average job satisfaction rating of 5 out of 5 stars. Among those reporting, there is a fairly even distribution of men (45%) and woman (55%) filling this role in Chicago. Many report receiving medical, dental, and vision benefits from their employer.

$40,268 - $84,430
$40K
$64K
$84K
MEDIAN: $63,941
10%
50%
90%

Add this chart to your site: 640px    300px

$0$98K
Salary $40,268 - $84,430
Bonus $500 - $12,500
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).
)
$39,403 - $98,633
  • Country: United States
  • Currency: USD
  • Updated: 16 Nov 2017
  • Individuals Reporting: 20

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.

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.

About Chicago, Illinois

Cook County, Illinois
2,720,556
Male:
1,320,015 (48.5%)
Female:
1,400,541 (51.5%)
Chicago (/ʃᵻˈkɑːɡoʊ/ or /ʃᵻˈkɔːɡoʊ/), officially the City of Chicago, is the third-most populous city in the United States. With over 2.7 million residents, it is the most populous city in the state of Illinois and the Midwestern United States, and the county seat of Cook County. The Chicago metropolitan area, often referred to as Chicagoland, has nearly 10 million people and is the third-largest in the U.S. Chicago was incorporated as a city in 1837, near a portage between the Great Lakes and the Mississippi River watershed, and grew rapidly in the mid-nineteenth century. The city is an international hub for finance, commerce, industry, technology, telecommunications, and transportation: O'Hare International Airport is the second-busiest airport in the world when measured by aircraft traffic; the region also has the largest number of U.S. highways and rail road freight. In 2012, Chicago was listed as an alpha global city by the Globalization and World Cities Research...
Chicago:
$50,702
Illinois:
$59,588
$985
Chicago:
$238,500
Illinois:
$180,300
6.3%

Insurance Underwriter Job Listings

Key Stats for Insurance Underwriter

Gender

Female
55 %
Male
45 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 4 votes.
1-4 years
33%
5-9 years
19%
10-19 years
43%
20 years or more
5%

Experience Affects Insurance Underwriter Salaries

Experienced
▲23%

Mid-Career
▲21%

National Average
$64,000

▼14%

Skills That Affect Insurance Underwriter Salaries

Insurance
▲6%

National Average
$64,000

Risk Management / Risk Control
▼13%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 4 votes.

Gender

Female
55 %
Male
45 %

Years of Experience

1-4 years
33%
5-9 years
19%
10-19 years
43%
20 years or more
5%

Common Health Benefits

medical benefits
Medical: 75%
dental benefits
Dental: 69%
vision benefits
Vision: 63%
no benefits
None: 25%