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What is a Commercial Insurance Underwriter? How do You Find One in Your State?
Insurance underwriters work in quite a similar function to mortgage or even equity or credit underwriters, for instance, their job being no less thorough and their tasks no less rigorous. Their overall mission is to review multiple applications for insurance coverage and then use risk analysis as the main means by which they can then finalize their decision on rejecting or accepting each applicant, one by one. In any day or week, these professionals can expect to see the data of hundreds of applicants.
What Kind of Training or Other Credentials Do These Professionals Hold?
Chartered Property and Casualty Underwriter, otherwise known as CPCU, is one major professional designation and field of service that many have followed in order to become licensed as insurance underwriters. Another is the Chartered Life Underwriter title, also called the CLU. The Insurance Institute of America offers training for the latter, providing its rigorous program of study to all interested. The American College offers schooling for the CLU.
Other Details to Note
Median annual salaries of appx. $70,000 are what professional certified, locally licensed insurance underwriters tend to make, on average. The U.S. Bureau of Labor Statistics continually updates these statistics. But these figures are from its most recent 2017 findings. Reviewing current clients for continuing coverage is another one of their main tasks. Those insured must continue to qualify or "re-qualify".
Rising Star Insurance – Great Commercial Insurance in Saint Paul MN
Rising Star Insurance, joyfully serving Saint Paul, MN and beyond, is here for you at any time. Reach out to them directly via web or phone. They’d love to service your needs for commercial insurance, clarifying any doubts you may have as well. Bring your questions or concerns!