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What is a commercial underwriter and how to become one
A commercial underwriter is an individual who performs risk analyses on loan and insurance applications to determine the insurance coverage's acceptance or rejection. They will also structure payment agreements and verify that all of the information presented on the application is correct.
Key responsibilities for a commercial underwriter include working closely with the sales and brokerage departments to obtain relevant documentation from clients, screening and assessing new applications, and identifying any possible risks that can cost the company money.
Soft skills that are essential for a commercial underwriter include communication, time management, and decision-making. They must also have critical thinking skills and be able to problem solve.
In addition to soft skills, a commercial underwriter needs to have knowledge of how to perform financial analysis and use software management systems like Oracle or M-files. They also need to have a working knowledge of insurance services regulations and guidelines, including the Investment Advisor's Act.
To become a commercial underwriter, one will need a minimum of a Bachelor's degree in business, finance, or risk management. Certification as a Chartered Property Casualty Underwriter or Associate in Commercial Underwriter is also beneficial. In some areas, there may be professional licensing requirements in addition to your education.
Avg. Salary $59,051
Avg. Salary $59,228
Growth rate -4%
Growth rate 0.3%
American Indian and Alaska Native 0.37%
Asian 5.52%
Black or African American 9.94%
Hispanic or Latino 9.29%
Unknown 2.46%
White 72.41%
Genderfemale 51.32%
male 48.68%
Age - 43American Indian and Alaska Native 3.00%
Asian 7.00%
Black or African American 14.00%
Hispanic or Latino 19.00%
White 57.00%
Genderfemale 47.00%
male 53.00%
Age - 43Stress level is high
7.1 - high
Complexity level is advanced
7 - challenging
Work life balance is fair
6.4 - fair
Commercial underwriter career paths
Key steps to become a commercial underwriter
Explore commercial underwriter education requirements
Start to develop specific commercial underwriter skills
Skills Percentages Real Estate 10.49% Customer Service 7.84% Financial Analysis 7.82% Credit Analysis 5.60% Cash Flow 4.45% Complete relevant commercial underwriter training and internships
Accountants spend an average of 3-6 months on post-employment, on-the-job training. New commercial underwriters learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a commercial underwriter based on U.S. Bureau of Labor Statistics data and data from real commercial underwriter resumes.Research commercial underwriter duties and responsibilities
- Handle new and renewal multi-line policies.
- Quoted new business and handle multi-line commercial accounts for this retailer.
- Front office administration; maintain A/R and A/P for 1000+ commercial lines clients and 2000+ personal lines clients.
- Market banking services to individuals, as well as to small businesses and corporations through networking and cross-selling.
Prepare your commercial underwriter resume
When your background is strong enough, you can start writing your commercial underwriter resume.
You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a commercial underwriter resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.
Choose from 10+ customizable commercial underwriter resume templates
Build a professional commercial underwriter resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your commercial underwriter resume.
Apply for commercial underwriter jobs
Now it's time to start searching for a commercial underwriter job. Consider the tips below for a successful job search:
- Browse job boards for relevant postings
- Consult your professional network
- Reach out to companies you're interested in working for directly
- Watch out for job scams
How did you land your first commercial underwriter job
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Average commercial underwriter salary
The average commercial underwriter salary in the United States is $59,051 per year or $28 per hour. Commercial underwriter salaries range between $41,000 and $84,000 per year.
What am I worth?
How do commercial underwriters rate their job?
Commercial underwriter reviews
Remote work, banking hours and benefits
High pressure, Toxic work environment when rates increase & people become defensive & scared of layoffs
Remote work opportunity
High pressure environment, constant scrutiny of job performance
Industry goes through high & low pricing cycles with, making lots of money or struggling to make budget. This puts direct pressure on underwriters to produce new business in a crowded space promoting the same basic products. I see younger underwriters now with business degrees, advanced degrees & industry certifications promoted quickly with little experience. Underwriting/computer systems are often dated and inefficient. We spend too much time sitting and looking at double monitors with lots of eye strain.
Updated January 8, 2025
