The Average Salary of an Insurance Underwriter

Insurance underwriters cacluate risk and determine whether an applicant is eligible for insurance coverage.

Insurance underwriters determine insurance policy eligibility. They review applications and assess risk based upon factors such as age, sex, lifestyle and family history. They use this research to determine appropriate policies and premiums.

National Salary

The national median salary for insurance underwriters in 2008 was $56,790, according to the U.S. Department of Labor's Bureau of Labor Statistics. In 2009, the average national salary was $63,330.

Wages

Insurance underwriters earned an average wage of $30.45 per hour in 2009, according to the Bureau of Labor Statistics. The top 10 percent of insurance underwriters earned $47.80 per hour while the bottom 10 percent earned $17.13 per hour.

Geography

Job location influences an underwriter's salary. Insurance underwriters living in Connecticut earned the highest average salary of $76,700 in 2009. In contrast, insurance writers in Wyoming earned the lowest average salary of $41,340 in 2009.

References

• Bureau of Labor Statistics: Insurance Underwriters
• Bureau of Labor Statistics: Occupational Employment and Wages, May 2009, Insurance Underwriters

Resources

• The Group Underwriters Association of America (GUAA)