Average Insurance Underwriter with Risk Management / Risk Control Skills Salary

$56,094
Avg. SalaryShow Hourly Rate
$3,070
Bonus
$10,000
Commission
$2,986
Profit Sharing
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The average salary for an Insurance Underwriter with Risk Management / Risk Control skills is $56,094.
10%
$41k
MEDIAN
$56k
90%
$83k
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United States (change)
Salary
$41k - $83k
Bonus
$500 - $12k
Profit Sharing
$311 - $6k
Commission
$6k - $17k
Total Pay
$40k - $88k

Your Market Worth Over Time

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Job Description for Insurance Underwriter

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.
The top respondents for the job title Insurance Underwriter are from the companies Liberty Mutual Insurance Group, St. Paul's Travelers and The Hartford Financial Services Group, Inc.. Reported salaries are highest at Liberty Mutual Insurance Group where the average pay is $73,360. Other companies that offer high salaries for this role include The Travelers Companies, Inc. and Arthur J. Gallagher & Company, earning around $66,000 and $64,800, respectively. State Farm Insurance Company pays the lowest at around $54,000. The Hartford Financial Services Group, Inc. and Selective Insurance Company also pay on the lower end of the scale, paying $54,385 and $56,700, respectively.

Insurance Underwriter Job Listings

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Popular Skills for Insurance Underwriter

Skills in Commercial and Financial Analysis are correlated to pay that is above average. Skills that pay less than market rate include Data Analysis, Customer Service and Insurance.

Pay by Experience Level for Insurance Underwriter

An entry-level Insurance Underwriter with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $48,020 based on 27 salaries. An early career Insurance Underwriter with 1-4 years of experience earns an average total compensation of $54,550 based on 162 salaries. A mid-career Insurance Underwriter with 5-9 years of experience earns an average total compensation of $59,127 based on 110 salaries. An experienced Insurance Underwriter with 10-19 years of experience earns an average total compensation of $61,156 based on 81 salaries. In their late career (20 years and higher), employees earn an average total compensation of $67,937.
Employees with Insurance Underwriter in their job title in New York, New York earn an average of 46.2% more than the national average. These job titles also find higher than average salaries in San Francisco, California (29.1% more) and Chicago, Illinois (7.7% more). The lowest salaries can be found in Charlotte, North Carolina (5.9% less) and Austin, Texas (2.0% less).

Years of Experience

This data is based on 421 survey responses.
Entry Level
6.4%
Early Career
38.5%
Mid Career
26.1%
Experienced
19.2%
Late Career
9.7%