|Quick Facts: Insurance Underwriters|
|2010 Median Pay||
$59,290 per year
$28.51 per hour
|Entry-Level Education||Bachelor’s degree|
|Work Experience in a Related Occupation||None|
|On-the-job Training||Moderate-term on-the-job training|
|Number of Jobs, 2010||101,800|
|Job Outlook, 2010-20||6% (Slower than average)|
|Employment Change, 2010-20||6,000|
Insurance underwriters decide whether to provide insurance and under what terms. They evaluate insurance applications and determine coverage amounts and premiums.
Insurance underwriters work indoors in comfortable offices. Most work full time.
Employers prefer to hire candidates who have a bachelor’s degree. However, insurance-related work experience and strong computer skills may be enough. Certification is necessary for advancement to senior underwriter and underwriter manager positions.
The median annual wage of insurance underwriters was $59,290 in May 2010.
Employment of insurance underwriters is expected to increase 6 percent from 2010 to 2020, slower than the average for all occupations. New types of automated underwriting software allow workers to process applications more quickly than before, reducing the need for underwriters.
Compare the job duties, education, job growth, and pay of insurance underwriters with similar occupations.
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