What is the average salary of an insurance underwriter?


Quick Answer

The average salary for insurance underwriters is $62,870, or $30.22 per hour, as reported by the Occupational Employment Statistics survey conducted in May 2012 by the Bureau of Labor Statistics of the United States Department of Labor. The highest 10 percent of insurance underwriters earn more than $109,900, and the lowest 10 percent earn below $39,050.

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Full Answer

While business and financial operations occupations are expected to increase 13 percent between 2012 and 2022, jobs for insurance underwriters are projected to decrease 6 percent, as reported by the Employment Projections program of the U.S. Bureau of Labor Statistics. In 2012, 106,300 people were employed as insurance underwriters, but this figure is expected to decrease to 99,800 by 2022.

Underwriting software will automate this career field, and remaining positions will be geared towards evaluating computer-generated recommendations. The highest paid industry for insurance underwriters is credit intermediation and related activities.

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