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The differences between property underwriters and marine underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a marine underwriter has an average salary of $77,871, which is higher than the $71,730 average annual salary of a property underwriter.
The top three skills for a property underwriter include CPCU, underwriting guidelines and insurance coverage. The most important skills for a marine underwriter are profitable business, risk analysis, and loss ratio.
| Property Underwriter | Marine Underwriter | |
| Yearly salary | $71,730 | $77,871 |
| Hourly rate | $34.49 | $37.44 |
| Growth rate | -4% | -4% |
| Number of jobs | 11,643 | 16,546 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 77% |
| Average age | 44 | 44 |
| Years of experience | - | - |
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.
A marine underwriter provides insurance cover to necessary clients. The responsibilities of this position include providing insurance for naval vessels such as boats and ships and providing valuation for a vessel or cargo. To provide this valuation, they weigh in the value of the freight, the price of the vessel, and the area where the vessel operates. The valuation will ensure a client is adequately covered in cases of unforeseen losses.
Property underwriters and marine underwriters have different pay scales, as shown below.
| Property Underwriter | Marine Underwriter | |
| Average salary | $71,730 | $77,871 |
| Salary range | Between $45,000 And $111,000 | Between $53,000 And $113,000 |
| Highest paying City | Boston, MA | - |
| Highest paying state | Massachusetts | - |
| Best paying company | Chubb | - |
| Best paying industry | Finance | - |
There are a few differences between a property underwriter and a marine underwriter in terms of educational background:
| Property Underwriter | Marine Underwriter | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 77% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between property underwriters' and marine underwriters' demographics:
| Property Underwriter | Marine Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 47.1% Female, 52.9% | Male, 59.5% Female, 40.5% |
| Race ratio | 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% | Black or African American, 8.1% Unknown, 2.5% Hispanic or Latino, 10.5% Asian, 5.6% White, 72.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |