Insurance Underwriter Bureau Of Labor Statistics
Bureau of labor statistics.
Insurance underwriter bureau of labor statistics. Insurance underwriters earned a median annual salary of 67 680 in 2016 according to the u s. According to the bureau of labor statistics the median salary of an insurance underwriter in 2018 was 69 380. Responsibilities of insurance brokers vs. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less.
Data from the bureau of labor statistics bls shows that insurance underwriters earn a median annual salary of 69 760 or 33 54 per hour. Bureau of labor statistics projected that the employment of insurance underwriters would drop by 5 from 2016 to 2026 because of the taxing and exhausting nature of the job. The projected decline is due to the growing prevalence of automated underwriting software being used to process insurance applications. Keyword bureau of labor statistics news catastrophes insurance mergers and aqcuisitions number of lightning related homeowners insurance claims in the u s.
Courses in statistics mathematics business finance and economics are particularly helpful. Bureau of labor statistics bls tracks data and makes projections for the nation s civilian occupations. National estimates for this occupation. Employment estimate and mean wage estimates for this occupation.
According to the u s. The job outlook is a 5 percent decline in. Bureau of labor statistics. Bureau of labor statistics insurance underwriter.
Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications. On the low end insurance underwriters earned a 25th percentile salary of. Median salary means that half the people with the job title earn more and half earn less. National estimates for this occupation industry profile for this occupation geographic profile for this occupation.
Bureau of labor statistics occupational employment statistics the median annual wage for insurance underwriters was 70 020 in may 2019. Want to know more. When an insurance company is making an agreement with an individual or an entity an insurance underwriter has to identify and calculate the magnitude and the likelihood of the risk involved. This is dramatically worse than the 7 percent growth projected for all occupations.
The bls expects employment opportunities in this field will decline 5 percent through 2026. Bureau of labor statistics job opportunities for insurance underwriters are projected to decline 5 percent during the decade ending in 2026. Insurance brokers and insurance underwriters may work in the same industry and serve.
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