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Career and Education Opportunities for Insurance Underwriters in Moreno Valley, California

Many educational and employment opportunities exist for insurance underwriters in the Moreno Valley, California area. There are currently 9,800 working insurance underwriters in California; this should grow by 7% to about 10,500 working insurance underwriters in the state by 2016. This is better than the nation as a whole, where employment opportunities for insurance underwriters are expected to shrink by about 4.1%. In general, insurance underwriters review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Insurance underwriters earn approximately $29 per hour or $61,730 annually on average in California. Nationally they average about $27 hourly or $56,790 per year. Earnings for insurance underwriters are not quite as good as earnings in the general category of Accounting and Auditing in California and better than general Accounting and Auditing category earnings nationally. Insurance underwriters work in a variety of jobs, including: underwriting account representative, reviewer sales, and commercial lines underwriter.

There are thirty-one schools of higher education in the Moreno Valley area, including one within twenty-five miles of Moreno Valley where you can get a degree to start your career as an insurance underwriter. Insurance underwriters usually hold a Bachelor's degree, so it will take about four years to learn to be an insurance underwriter if you already have a high school diploma.

CAREER DESCRIPTION: Insurance Underwriter

Insurance Underwriter video from the State of New Jersey Dept. of Labor and Workforce Development

In general, insurance underwriters review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Insurance underwriters decline excessive risks. They also write to field representatives and others to obtain further data or explain company underwriting policies. Equally important, insurance underwriters have to inspect company records to establish amount of insurance in force. They are often called upon to decrease value of policy when risk is substandard and specify applicable endorsements. Finally, insurance underwriters authorize reinsurance of policies when risks are high.

Every day, insurance underwriters are expected to be able to read and understand documents and reports. It is also important that they articulate ideas and problems.

It is important for insurance underwriters to evaluate possibility of losses due to catastrophe or excessive insurance. They are often called upon to examine documents to establish degree of risk from such factors as applicant financial standing and value and state of property. Somewhat less frequently, insurance underwriters are also expected to write to field representatives and others to obtain further data or explain company underwriting policies.

And finally, they sometimes have to decrease value of policy when risk is substandard and specify applicable endorsements.

Like many other jobs, insurance underwriters must have exceptional integrity and be thorough and dependable.

Similar jobs with educational opportunities in Moreno Valley include:

  • Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
  • Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
  • Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
  • Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
  • Claims Adjuster. Review settled insurance claims to determine that payments and settlements have been made in accordance with company practices and procedures. Report overpayments, underpayments, and other irregularities. Confer with legal counsel on claims requiring litigation.
  • Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
  • Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
  • Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
  • Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
  • Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
  • Insurance Appraiser. Appraise automobile or other vehicle damage to determine cost of repair for insurance claim settlement and seek agreement with automotive repair shop on cost of repair. Prepare insurance forms to indicate repair cost or cost estimates and recommendations.
  • Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
  • Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
  • Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
  • Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Insurance Underwriter Training

Riverside Community College - Riverside, CA

Riverside Community College, 4800 Magnolia Ave, Riverside, CA 92506. Riverside Community College is a large college located in Riverside, California. It is a public school with primarily 2-year programs and has 34,058 students. Riverside Community College has an associate's degree and a two to four year program in Insurance.

CERTIFICATIONS

Chartered Property Casualty Underwriter: More than 65,000 people have earned the CPCU professional designation.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Commerical Underwriting: Enhance your professional confidence by building a strong foundation in underwriting principles with the Institutes' Associate in Commercial Underwriting program.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Risk Management: The Insurance Institute of America's newly revised Associate in Risk Management (ARM) designation program will teach your employees the practical, relevant skills they need to help manage risk at all levels of your company.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Premium Auditing: The Associate in Premium Auditing program provides a sold foundation in essential auditing, accounting, and insurance principles.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Insurance Services: The Associate in Insurance Services program is a nationally recognized educational program designed specifically for insurance personnel.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Risk Management for Public Entities: The Insurance Institute of America's newly revised Associate in Risk Management (ARM) designation program will teach your employees the practical, relevant skills they need to help manage risk at all levels of your company.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Risk Management for Public Entities: Understand the unique nature of the public sector.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Certified Pension Consultant: The Certified Pension Consultant (CPC) credential is designed for benefits professionals working in plan administration, pension actuarial administration, insurance, and financial planning.

For more information, see the American Society of Pension Professionals and Actuaries website.

LICENSES

Life and Disability Insurance Analyst

Licensing agency: Department of Insurance
Address: Producer Licensing Bureau, 320 Capitol Mall, Sacramento, CA 95814

Phone: (916) 322-3555
Website: Department of Insurance Producer Licensing Bureau

LOCATION INFORMATION: Moreno Valley, California

Moreno Valley, California
Moreno Valley, California photo by Slowking_Man

Moreno Valley is situated in Riverside County, California. It has a population of over 190,871, which has grown by 34.1% over the last ten years. The cost of living index in Moreno Valley, 121, is far greater than the national average. New single-family homes in Moreno Valley are priced at $225,500 on average, which is far less than the state average. In 2008, one hundred thirty-two new homes were built in Moreno Valley, down from three hundred ninety-two the previous year.

The three most popular industries for women in Moreno Valley are health care, educational services, and accommodation and food services. For men, it is construction, public administration, and educational services. The average commute to work is about 35 minutes. More than 14.0% of Moreno Valley residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 4.6%, is lower than the state average.

The unemployment rate in Moreno Valley is 17.3%, which is greater than California's average of 12.3%.

The percentage of Moreno Valley residents that are affiliated with a religious congregation, 43.0%, is less than both the national and state average. Trinity Baptist Church, Sunnymead Wesleyan Church and Sunnymead Baptist Temple are some of the churches located in Moreno Valley. The largest religious groups are the Catholic Church, the LDS (Mormon) Church and the Southern Baptist Convention.

Moreno Valley is home to the Sunnymead Chamber of Commerce and the Lawless Ranch as well as Pedrorena Park and John F Kennedy Veterans Memorial Park. Shopping centers in the area include Moreno Valley Mall at Towngate Shopping Center, Moreno Valley Plaza Shopping Center and Moreno Valley Shopping Center. Visitors to Moreno Valley can choose from Best Western Image Suites and Best Western Image Inn & Suites for temporary stays in the area.