Insurance Claim Representative Salary
The first person people usually encounter when trying to file an insurance claim against flood damage, stolen goods, hospital bills or other matters is the claims representative. Trained to evaluate the claim for legitimacy, claims adjusters oversee a claim from its submission through, where applicable, payout. Like private detectives tracking a case, insurance claim agents stalk information to ensure their own salaries.
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Facts
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Claims representatives across the United States earned an average of $58,780 per year, according to the U.S. Department of Labor Bureau of Labor Statistics study of 2009 wages. Claims reps wanting to stake a higher claim found opportunities in the BLS' top-ranked industries for highest claims salaries. The securities and commodity contracts industry paid significantly higher than the median, with an annual mean wage of $71,950. Also much higher was the natural gas distribution industry at $68,960. Claims representatives in the rail transportation industry also fared higher with $66,250 on average per year.
Location
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Choosing a state to "claim" as home had an effect on claims representatives' salaries in 2009. It was the eastern seaboard offering the highest paying states in the country, led by the District of Columbia, paying $77,180 per year. Second highest was New Jersey, offering $67,190. In close third, fourth and fifth places were Louisiana, New York and Vermont at $63,630, $63,310 and $63,300 respectively.
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Considerations
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No clear-cut path is required to attain a salary as a claims representative. While a high school diploma is the minimum qualification, some claims representatives start there and work their way up the ranks through on-the-job training. Associate or bachelor's degrees in a variety of fields may be helpful to separate a potential claims representative from the rest of the pack. Claims adjusters in some states may also be required to undergo licensing exams and continuing education courses.
Outlook
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Prospective claims adjusters wanting to stake their claim on a salary will find the field remaining stagnant. The Bureau of Labor Statistics projects just 7 percent growth, or 20,900 jobs added, through 2018. The BLS recommends the health insurance agency as the most likely to be the place to find employment as well as areas of the country affected by natural disasters such as floods and tornadoes.
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