One of the keys to business longevity is mitigating risks and finding ways to insure the business. Risk and insurance managers are responsible for these goals as their primary job functions are identifying potential risks, securing insurance purchases, and developing ways to mitigate risks in the future.

Specifically, the work responsibilities of a risk and insurance manager revolve around conducting risk analyses, dealing with insurance companies, developing safety and risk management protocols, and working with other departments to employ risk management strategies. Moreover, they may also be responsible for handling insurance budgets and recommending insurance decisions to the board.

This role typically requires a four-year degree in business, accounting, finance, or other related fields. Experience is also a common qualification for many employers, with the number of required work years ranging from three to five, at a minimum.

Due to the critical nature of this job, the average pay of risk and insurance managers is around $36 an hour, which is about $74,000 per year.

What Does a Risk And Insurance Manager Do

There are certain skills that many risk and insurance managers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed organizational skills, detail oriented and math skills.

Learn more about what a Risk And Insurance Manager does

How To Become a Risk And Insurance Manager

If you're interested in becoming a risk and insurance manager, one of the first things to consider is how much education you need. We've determined that 58.2% of risk and insurance managers have a bachelor's degree. In terms of higher education levels, we found that 10.4% of risk and insurance managers have master's degrees. Even though most risk and insurance managers have a college degree, it's possible to become one with only a high school degree or GED.

Learn More About How To Become a Risk And Insurance Manager

Risk And Insurance Manager Career Paths

Average Salary for a Risk And Insurance Manager

Risk And Insurance Managers in America make an average salary of $90,847 per year or $44 per hour. The top 10 percent makes over $141,000 per year, while the bottom 10 percent under $58,000 per year.
Average Risk And Insurance Manager Salary
$90,847 Yearly
$43.68 hourly
$58,000
10 %
$90,000
Median
$141,000
90 %

What Am I Worth?

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How To Become a Risk And Insurance Manager
How To Become a Risk And Insurance Manager Career Overview

States With The Most Risk And Insurance Manager Jobs

Mouse over a state to see the number of active risk and insurance manager jobs in each state. The darker areas on the map show where risk and insurance managers earn the highest salaries across all 50 states.

Average Salary: Job Openings:

Number Of Risk And Insurance Manager Jobs By State

RankStateNumber of JobsAverage Salary
1California3,599$108,042
2Texas2,596$95,402
3New York2,101$111,459
4Florida1,789$75,526
5Illinois1,633$91,307
6Pennsylvania1,308$100,296
7Georgia1,184$78,221
8Virginia1,140$87,935
9Ohio1,045$91,060
10North Carolina1,043$97,801
11Massachusetts962$104,722
12Washington942$87,975
13New Jersey932$102,069
14Arizona746$92,799
15Michigan726$91,592
16Tennessee714$79,067
17Minnesota713$83,563
18Maryland690$112,540
19Missouri677$79,601
20Colorado671$68,874
21Indiana593$86,312
22Oregon475$87,215
23Wisconsin474$90,045
24South Carolina448$83,159
25Alabama438$79,289
26Louisiana427$82,043
27Iowa422$82,069
28Connecticut405$100,757
29Utah399$76,215
30Kentucky370$85,049
31Arkansas331$92,629
32Nevada293$107,280
33Kansas286$77,299
34Mississippi259$75,583
35Oklahoma257$78,112
36Nebraska200$78,864
37Delaware182$101,386
38Idaho181$90,376
39New Mexico155$88,341
40Rhode Island152$99,034
41Montana149$93,931
42West Virginia144$90,060
43New Hampshire130$119,989
44Hawaii126$67,008
45Maine112$105,452
46Alaska112$92,381
47Vermont100$98,131
48South Dakota100$90,308
49North Dakota85$83,622
50Wyoming56$72,144

Risk And Insurance Manager Education

Risk And Insurance Manager Majors

35.1 %

Risk And Insurance Manager Degrees

Bachelors

58.2 %

Associate

18.1 %

Masters

10.4 %

Top Colleges for Risk And Insurance Managers

1. Stanford University

Stanford, CA • Private

In-State Tuition
$51,354
Enrollment
7,083

2. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

3. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

4. California State University - Bakersfield

Bakersfield, CA • Private

In-State Tuition
$7,309
Enrollment
9,142

5. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

6. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition
$9,625
Enrollment
17,407

7. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

8. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339

9. Maria College of Albany

Albany, NY • Private

In-State Tuition
$15,140
Enrollment
876

10. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-State Tuition
$14,760
Enrollment
31,451

Top Skills For a Risk And Insurance Manager

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 18.0% of risk and insurance managers listed risk management on their resume, but soft skills such as organizational skills and detail oriented are important as well.

Choose From 10+ Customizable Risk And Insurance Manager Resume templates

Zippia allows you to choose from different easy-to-use Risk And Insurance Manager templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Risk And Insurance Manager resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Risk And Insurance Manager Resume

Risk And Insurance Manager Demographics

Risk And Insurance Manager Gender Distribution

Female
Female
66%
Male
Male
34%

After extensive research and analysis, Zippia's data science team found that:

  • Among risk and insurance managers, 66.4% of them are women, while 33.6% are men.

  • The most common race/ethnicity among risk and insurance managers is White, which makes up 68.7% of all risk and insurance managers.

  • The most common foreign language among risk and insurance managers is Spanish at 55.2%.

Work Experience Programs For Risk And Insurance Managers

Virtual work experience programs replicate work at top companies and help you gain the skills to be successful when applying and working there. In only a few hours, learn the relevant tools necessary to complete a typical work day at that company. Virtual work experience programs are 100% free, open-access, and self-paced. No experience or application is required!

Tax Program

Company: KPMG AU

Cost: Free

Duration: 5-6 hours

Wealth Management Program

Company: Goodbody

Cost: Free

Duration: 5-6 hours

Disputes, Competition & Insurance Program

Company: MinterEllison

Cost: Free

Duration: 3-4 hours

Audit Program

Company: Grant Thornton Australia

Cost: Free

Duration: 5-6 hours

Digital Intelligence in Business Transformation Program

Company: PwC Switzerland

Cost: Free

Duration: 7-8 hours

Business and Human Rights Program

Company: Clifford Chance

Cost: Free

Duration: 7.5-8.5 hours

Product Design Program

Company: Accenture North America

Cost: Free

Duration: 4 hours

Asset Management Program

Company: JPMorgan Chase

Cost: Free

Duration: 5-6.5 hours

Women in Commercial Real Estate Program

Company: JLL

Cost: Free

Duration: 2-3 hours

Global Finance and Business Management Program

Company: JPMorgan Chase & Co.

Cost: Free

Duration: 4-5 hours

Online Courses For Risk And Insurance Manager That You May Like

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Best States For a Risk And Insurance Manager

Some places are better than others when it comes to starting a career as a risk and insurance manager. The best states for people in this position are New Hampshire, Maryland, New York, and California. Risk and insurance managers make the most in New Hampshire with an average salary of $119,989. Whereas in Maryland and New York, they would average $112,540 and $111,459, respectively. While risk and insurance managers would only make an average of $108,042 in California, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Nevada

Total Risk And Insurance Manager Jobs:
293
Highest 10% Earn:
$164,000
Location Quotient:
1.2

2. New York

Total Risk And Insurance Manager Jobs:
2,101
Highest 10% Earn:
$173,000
Location Quotient:
1.4

3. District of Columbia

Total Risk And Insurance Manager Jobs:
293
Highest 10% Earn:
$175,000
Location Quotient:
1.49
Full List Of Best States For Risk And Insurance Managers

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Top Risk And Insurance Manager Employers

Most Common Employers For Risk And Insurance Manager

RankCompanyAverage SalaryHourly RateJob Openings
1Accenture$135,370$65.0812
2Pwc$131,613$63.282
3AIG$109,518$52.653
4PSEG$96,671$46.482
5Ear, Nose & Throat Associates$94,619$45.492
6Allstate$90,013$43.284
7T-Mobile$88,189$42.402
8Liberty Mutual Insurance$87,695$42.163
9SCA Health$87,151$41.902
10USAA$86,919$41.7910