Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025, aged to 2026 using compounded market movement. State selections show BLS state-level figures where published. Actual pay varies with experience, industry, and organization size.
Insurance Underwriter is a professional role in the Business and Financial Operations job family, focused on Insurance Underwriter work. Pay for this title reflects both its level and its scope; see our Title Level and Organization Responsibility guides for how WePayFairly defines them.
What Insurance Underwriters do
Typical education: Bachelor's Degree
Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
Decline excessive risks.
Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
Evaluate possibility of losses due to catastrophe or excessive insurance.
Review company records to determine amount of insurance in force on single risk or group of closely related risks.
Top skills:WritingReading ComprehensionCritical ThinkingActive ListeningSpeakingJudgment and Decision Making
Includes information from O*NET OnLine by the U.S. Department of Labor, Employment and Training Administration (CC BY 4.0).
Insurance Underwriter salary by industry
Finance and Insurance
99,060 workers
$97,500
Management of Companies and Enterprises
2,940 workers
$92,500
Professional, Scientific, and Technical Services
980 workers
$93,500
Federal, State, and Local Government, excl. State & Local Schools & Hospitals & USPS
880 workers
$80,500
State Government, including Schools and Hospitals (OEWS Designation)
700 workers
$76,500
Local Government, including Schools and Hospitals (OEWS Designation)
180 workers
$94,500
Health Care and Social Assistance
150 workers
$87,000
Other Services (except Public Administration)
70 workers
$79,500
National sector-level figures, BLS OEWS May 2025, aged to 2026.
How this role compares
Insurance Underwriter pays 2% above the average across 32 roles in the Business and Financial Operations job family (family average $95,000).
Similar-paying roles in Business and Financial Operations
The average base salary for a Insurance Underwriter in the United States is $97,000 per year, or about $46.63 per hour.
What is the typical salary range?
Pay typically falls between $67,000 and $114,500 per year (25th to 75th percentile) depending on experience, location, industry, and organization size.
How does this compare with other Business and Financial Operations roles?
The Business and Financial Operations job family averages $95,000 across 32 roles tracked by WePayFairly.
Need a defensible market price for this role? WePayFairly data is compiled from published survey sources and maintained by compensation professionals.
