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DETAILED OCCUPATION DATA

13-2053 Insurance Underwriters

Occupational Description:

Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Occupational Employment Statistics(OES) Wage Data
Wages Updated to First Quarter, 2020
					Percentiles
Geography	Employment	Emp SE*	Mean	Mean SE*	10th	25th	Median	75th	90th
EDR 6W- Upper Minnesota Valley	N/A	0	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Minnesota	1,750	233	$39.12/hr	$1.37/hr	$24.82/hr	$28.43/hr	$35.09/hr	$46.08/hr	$67.13/hr
U S	100,050	2,301	$37.68/hr	$0.30/hr	$20.56/hr	$25.96/hr	$33.99/hr	$45.81/hr	$60.33/hr
*SE = Standard error, a measure of the statistical reliability of the estimate.

Other Regional Data For Insurance Underwriters
Geography (click title for details)	OES		Projections
Geography (click title for details)	Employment	Median Wage	% Change -
EDR 11 - 7 County Twin Cities	1,600	$36.10/hr	N/A
EDR 3 - Arrowhead	30	$25.39/hr	N/A
EDR 9 - South Central	20	$24.20/hr	N/A
EDR 6E- Southwest Central	N/A	N/A	N/A
EDR 10 - Southeast	N/A	N/A	N/A
EDR 2 - Headwaters	N/A	N/A	N/A
EDR 7E- East Central	N/A	N/A	N/A
EDR 6W- Upper Minnesota Valley	N/A	N/A	N/A
EDR 4 - West Central	N/A	N/A	N/A
EDR 8 - Southwest	N/A	N/A	N/A
EDR 5 - North Central	N/A	N/A	N/A
EDR 1 - Northwest	N/A	N/A	N/A
EDR 7W- Central	N/A	N/A	N/A

Related Occupations
Occupation (click title for details)	OES		Projections
Occupation (click title for details)	Employment	Median Wage	% Change -
Procurement Clerks	20	$18.61/hr	N/A
Cost Estimators	20	$30.74/hr	N/A
Credit Analysts	10	$22.37/hr	N/A
Insurance Claims and Policy Processing Clerks	N/A	N/A	N/A
Tax Preparers	N/A	N/A	N/A
Actuaries	N/A	N/A	N/A
Claims Adjusters, Examiners, and Investigators	N/A	N/A	N/A

Tasks for Insurance Underwriters

Examines documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.
Writes to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.
Declines excessive risks.
Authorizes reinsurance of policy when risk is high.
Reviews company records to determine amount of insurance in force on single risk or group of closely related risks.
Decreases value of policy when risk is substandard and specifies applicable endorsements or applies rating to ensure safe profitable distribution of risks, using reference materials.
Evaluates possibility of losses due to catastrophe or excessive insurance.