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The differences between commercial lines underwriters and insurance underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a commercial lines underwriter has an average salary of $67,892, which is higher than the $64,163 average annual salary of an insurance underwriter.
The top three skills for a commercial lines underwriter include CPCU, multi-line and commercial property. The most important skills for an insurance underwriter are health insurance, insurance underwriting, and insurance coverage.
| Commercial Lines Underwriter | Insurance Underwriter | |
| Yearly salary | $67,892 | $64,163 |
| Hourly rate | $32.64 | $30.85 |
| Growth rate | -4% | -4% |
| Number of jobs | 33,047 | 39,026 |
| Job satisfaction | - | 3 |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 67% |
| Average age | 44 | 44 |
| Years of experience | - | - |
Commercial lines underwriters are professionals who are responsible for reviewing corporate insurance applications to evaluate the risk involved and to approve or disapprove applicants. These underwriters are required to analyze the business information of their clients as well as monitor their activities to change insurance policies when risk is high or substandard. They must contact outside parties to discuss and explain underwriting policies as well as quote rates. Commercial lines underwriters must also utilize underwriting guidelines so that they can determine the loss-ratio history and loss-control reports.
An insurance underwriter specializes in identifying and assessing financial risks in insurance policies. It is their duty to gather and review insurance applications, understand the coverage of policies and claims, determine a client's ability to uphold financial obligations by studying their personal information, and develop strategies to prevent the impact of risks and financial losses. They may also negotiate with external parties while adhering to the company's rules and regulations. Moreover, there are instances when an insurance underwriter must produce progress reports and presentations for managers and executives.
Commercial lines underwriters and insurance underwriters have different pay scales, as shown below.
| Commercial Lines Underwriter | Insurance Underwriter | |
| Average salary | $67,892 | $64,163 |
| Salary range | Between $44,000 And $104,000 | Between $35,000 And $116,000 |
| Highest paying City | - | Hartford, CT |
| Highest paying state | - | Connecticut |
| Best paying company | - | Citi |
| Best paying industry | - | - |
There are a few differences between a commercial lines underwriter and an insurance underwriter in terms of educational background:
| Commercial Lines Underwriter | Insurance Underwriter | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commercial lines underwriters' and insurance underwriters' demographics:
| Commercial Lines Underwriter | Insurance Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 43.1% Female, 56.9% | Male, 33.4% Female, 66.6% |
| Race ratio | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 10.1% Asian, 5.8% White, 72.1% American Indian and Alaska Native, 0.4% | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 9.9% Asian, 5.7% White, 72.3% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |