Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between commercial lines underwriters and property underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a property underwriter has an average salary of $71,730, which is higher than the $67,892 average annual salary of a commercial lines underwriter.
The top three skills for a commercial lines underwriter include CPCU, multi-line and commercial property. The most important skills for a property underwriter are CPCU, underwriting guidelines, and insurance coverage.
| Commercial Lines Underwriter | Property Underwriter | |
| Yearly salary | $67,892 | $71,730 |
| Hourly rate | $32.64 | $34.49 |
| Growth rate | -4% | -4% |
| Number of jobs | 33,047 | 11,643 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 75% |
| 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.
Property Underwriters will require skills in underwriting guidelines, sales territories, CPCU, analysis, math, interpersonal communication, and a bachelor's degree in economics, business, accounting, finance, or mathematics for this career choice. Also, on-the-job training may be needed from senior underwriters and completion of certification programs. Paying an annual salary of $82K, those who choose this career will help determine coverage amounts and premiums on property. This may include houses, land, boats, cars, or other properties of sufficient value.
Commercial lines underwriters and property underwriters have different pay scales, as shown below.
| Commercial Lines Underwriter | Property Underwriter | |
| Average salary | $67,892 | $71,730 |
| Salary range | Between $44,000 And $104,000 | Between $45,000 And $111,000 |
| Highest paying City | - | Boston, MA |
| Highest paying state | - | Massachusetts |
| Best paying company | - | Chubb |
| Best paying industry | - | Finance |
There are a few differences between a commercial lines underwriter and a property underwriter in terms of educational background:
| Commercial Lines Underwriter | Property Underwriter | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 75% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commercial lines underwriters' and property underwriters' demographics:
| Commercial Lines Underwriter | Property Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 43.1% Female, 56.9% | Male, 47.1% Female, 52.9% |
| 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, 9.7% Unknown, 2.5% Hispanic or Latino, 9.9% Asian, 5.7% White, 71.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |