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Occupation information for

Insurance Underwriters
District Of Columbia

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description

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

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details

Currently Employed: 170

Projected Annual Job Openings: 10

Typical Hourly Wage: $21.54 - $46.92

Typical Annual Salary: $44,800 - $97,600

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typical training

Typical education needed for entry: Bachelor's degree

Typical work experience needed for a job in this occupation: None

Typical on-the-job training once you have a job in this occupation: Moderate-term on-the-job training

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typical job duties

  • 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.
  • Decline excessive risks.
  • Write to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.
  • Review company records to determine amount of insurance in force on single risk or group of closely related risks.
  • Examine documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.
  • Authorize reinsurance of policy when risk is high.
  • Evaluate possibility of losses due to catastrophe or excessive insurance.

tools & technology


Tools:
  • Desktop calculator
  • Desktop computers
  • Notebook computers
  • Personal computers

Technology:
  • Enterprise resource planning ERP software
  • Financial analysis software
  • Presentation software
  • Spreadsheet software
  • Word processing software

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