|Overview:||Insurance underwriters examine the technical characteristics of buildings to decide whether an insurance company should accept or reject a customer's application for insurance. They advise management about premiums based on risks of fire and accident.|
|Duties:||They analyze construction plans and materials specifications for buildings and structures to be insured to estimate the potential damages and losses that could occur from fire, accident, flood, etc.
They advise insurance company management about the wisdom of providing insurance coverge for specific buildings & constructions. They may assess housing developments, factories, etc.
They specify the amount of premiums that should be paid to the insurance company by a property owner for specific properties. Premiums are based upon the risks involved.
They investigate fire damaged buildings that were insured by the company to determine the cause of the fire and to assess whether all the risks were accurately evaluated.
|Job Outlook:||Employment of insurance underwriters is expected decline slowly through 2018 due to automated rating. Some demand for underwriters may arise as insurance carriers try to restore profitability. Job opportunities should be best for those with experience in related insurance jobs, a background in finance, and strong computer and communication skills.|
|Salary Range (National Average):||$33,000 to $39,000|
|Education Level:||Training for this occupation generally requires an Associate Degree from a 2 year or community college.|
|Additional Training/Education:||Most large insurance companies prefer graduates with a bachelor's degree in business administration or finance with courses in accounting, computer applications, and insurance. Certification as an "Associate in Underwriting" requires about 1-1/2 years of study and can accelerate advancement to higher level positions.|
* National data collected by the Department of Labor in 2014 with projections through 2024. For New York green job information .
Understanding acquiring positions in this field may be enhanced through continuing academic study (i.e. earning a baccalaureate or a master's degree) and/or work experience in the field, Queensborough Community College has established transfer agreementswith other institutions for students who wish to further pursue their educational goals. Students are highly encouraged to meet with one of our Career Services to fully understand the opportunities available through study in their degree program.