Insurance Underwriters in Nevada
Considering working as an Insurance Underwriters in Nevada? Here’s what you need to know. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
What do Insurance Underwriters Make in Nevada?
The insurance underwriters working in Nevada, wages run about $87,290 per year (or about $41.97/hour).Earnings range from $62,650 at the 10th percentile to $129,650 at the 90th percentile.
| Wage Statistic | Annual | Hourly |
|---|---|---|
| 10th percentile | $62,650 | $30.12 |
| 25th percentile | $70,130 | $33.71 |
| Median (50th) | $87,290 | $41.97 |
| 75th percentile | $105,880 | $50.91 |
| 90th percentile | $129,650 | $62.33 |
The job concentration index in Nevada nationwide is 0.49, meaning fewer insurance underwriters per worker than the national average.
National Wage Comparison
Nationally, insurance underwriters earn a median of $129,939 per year ($62.47/hour), below the Nevada median.
Employment Outlook
National employment for 57,540 insurance underwriters nationwide. In Nevada alone, around 520 people work in this role. That trails the typical state, which employs around 1,100 insurance underwriters.
Top Nevada Metros for Insurance Underwriters
The metro areas below employ the most insurance underwriters in Nevada.
| Metro Area | Number Employed | Annual Median Salary |
|---|---|---|
| Las Vegas-Henderson-North Las Vegas, NV | 390 | $98,280 |
| Reno, NV | 100 | $70,130 |
Top States for Insurance Underwriters Employment
These states have the highest employment of insurance underwriters work.
| State | Number Employed |
|---|---|
| Illinois | 8,480 |
| Texas | 8,150 |
| New York | 7,530 |
| Florida | 7,430 |
| California | 7,300 |
| Georgia | 6,310 |
| Pennsylvania | 5,910 |
| Ohio | 5,630 |
| Wisconsin | 3,440 |
| Massachusetts | 3,440 |
| Arizona | 3,300 |
| North Carolina | 3,230 |
| New Jersey | 3,170 |
| Virginia | 2,910 |
| Connecticut | 2,670 |
| Minnesota | 2,670 |
| Michigan | 2,550 |
| Washington | 2,000 |
| Missouri | 1,910 |
| Iowa | 1,730 |
Highest-Paying States for Insurance Underwriters
These states pay the most for insurance underwriters.
| State | Annual Median Salary |
|---|---|
| Vermont | $106,790 |
| District of Columbia | $100,660 |
| Massachusetts | $100,050 |
| Colorado | $100,050 |
| Maine | $96,600 |
| New Hampshire | $96,100 |
| Connecticut | $95,460 |
| Washington | $95,310 |
| New Jersey | $93,500 |
| Maryland | $88,820 |
Skills
The most important insurance underwriters skills, rated on an importance scale of 0 to 5:
Knowledge Areas
Core knowledge areas for this occupation, rated on an importance scale of 0 to 5:
Abilities
Key abilities for insurance underwriters, rated on an importance scale of 0 to 5:
Daily Tasks
Day-to-day, insurance underwriters typically:
- 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.
- Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe, profitable distribution of risks, using reference materials.
- Authorize reinsurance of policy when risk is high.
Work Activities
- Getting Information
- Making Decisions and Solving Problems
- Analyzing Data or Information
- Working with Computers
- Establishing and Maintaining Interpersonal Relationships
- Processing Information
- Communicating with People Outside the Organization
- Organizing, Planning, and Prioritizing Work
- Communicating with Supervisors, Peers, or Subordinates
- Evaluating Information to Determine Compliance with Standards
- Updating and Using Relevant Knowledge
- Documenting/Recording Information
Tools & Technology
Common tools and software used in this occupation include: Hot technologies: C++ In-demand technologies: Microsoft Excel
What Major Will Prepare You For This Career?
Related college programs include:
- Insurance
- Management Sciences & Methods
- Business Administration & Management
- Finance & Financial Management
Featured schools near , edit
Related Careers
Careers similar to insurance underwriters include:
- Financial Managers
- Investment Fund Managers
- Claims Adjusters, Examiners, and Investigators
- Accountants and Auditors
- Appraisers and Assessors of Real Estate
- Credit Analysts
Also Known As
Account Manager Underwriter, Account Underwriter, Automobile and Property Underwriter, Bond Underwriter, Casualty Underwriter, Commercial Credit Underwriter, Commercial Insurance Underwriter, Commercial Lines Underwriter, Commercial Underwriter, Credit Underwriter, Direct Endorsement Underwriter (DE Underwriter), Excess Casualty Underwriter, Field Underwriter, Group Underwriting Consultant, Health Underwriter.
References
- U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics — https://www.bls.gov/oes/
- O*NET Online — https://www.onetonline.org/
- BLS Employment Projections — https://www.bls.gov/emp/
- O*NET-SOC code: 13-2053.00
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