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Insurance Underwriters

Description

Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Common Tasks

  • Decline excessive risks.
  • Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
  • Evaluate possibility of losses due to catastrophe or excessive insurance.
  • Examine documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.
  • Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe, profitable distribution of risks, using reference materials.

Required Education

Bachelor's degree

Wages

In 2016 the mean hourly wage in the Greater Sacramento area was $35.42 . The hourly rate for this occupation typically paid between $22.34 and $54.69 .

In 2016 the mean annual salary in the Greater Sacramento area was $73,681.16 . The annual salary for this occupation typically paid between $46,470.30 and $113,735.06 .

Occupation Outlook

This occupation employed 910 people in the Greater Sacramento area during 2014.

By 2024, there is expected to be an increase of 9.9% in the number of jobs in the Greater Sacramento area for this occupation, bringing to total number to 1,000.

By 2024, in the Greater Sacramento area, the median hourly rate for this occupation is expected to be $33.00 with the median annual salary reaching $69,107.

Data courtesy of O*NET
O*NET in-it