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Career and Education Opportunities for Insurance Underwriters in San Diego, California

Insurance underwriters can find many career and educational opportunities in the San Diego, California area. There are currently 9,800 jobs for insurance underwriters in California and this is projected to grow 7% to 10,500 jobs 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%. Insurance underwriters generally 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 annually. Insurance underwriters earn less than people working in the category of Accounting and Auditing generally in California and more than people in the Accounting and Auditing category nationally. Insurance underwriters work in a variety of jobs, including: insurance writer, marine underwriter, and life underwriter.

The San Diego area is home to sixty schools of higher education, including two within twenty-five miles of San Diego where you can get a degree as an insurance underwriter. Given that the most common education level for insurance underwriters is a Bachelor's degree, you can expect to spend about four years training to become 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 San Diego 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.
  • 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

Southwestern College - Chula Vista, CA

Southwestern College, 900 Otay Lakes Rd, Chula Vista, CA 91910-7299. Southwestern College is a large college located in Chula Vista, California. It is a public school with primarily 2-year programs and has 19,997 students. Southwestern College has an associate's degree and a two to four year program in Insurance.

Palomar College - San Marcos, CA

Palomar College, 1140 W. Mission, San Marcos, CA 92069-1487. Palomar College is a large college located in San Marcos, California. It is a public school with primarily 2-year programs and has 28,093 students. Palomar 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: San Diego, California

San Diego, California
San Diego, California photo by FlickreviewR

San Diego is situated in San Diego County, California. It has a population of over 1,279,329, which has grown by 4.6% over the last ten years. The cost of living index in San Diego, 141, is far greater than the national average. New single-family homes in San Diego are valued at $323,700 on average, which is well above the state average. In 2008, six hundred forty-one new homes were constructed in San Diego, down from seven hundred forty-eight the previous year.

The three big industries for women in San Diego are health care, educational services, and professional, scientific, and technical services. For men, it is professional, scientific, and technical services, accommodation and food services, and construction. The average travel time to work is about 23 minutes. More than 35.0% of San Diego residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 13.4%, is higher than the state average.

The unemployment rate in San Diego is 10.5%, which is less than California's average of 12.3%.

The percentage of San Diego residents that are affiliated with a religious congregation, 43.7%, is less than both the national and state average. Penasquitos Nazarene Church, Peace Lutheran Church and Paul E Kidd African Methodist Episcopal Church are some of the churches located in San Diego. The most common religious groups are the Catholic Church, the LDS (Mormon) Church and the Southern Baptist Convention.

San Diego is home to the Zlac Rowing Club and the Rancho Los Penasquitos Golf Course as well as Adobe Bluffs Park and John F Kennedy Park. Shopping malls in the area include San Diego Factory Outlet Shopping Center, San Carlos Shopping Center and Montgomery Plaza Shopping Center. Visitors to San Diego can choose from Best Western Posada at the Yac, Beachfront San Diego and Banana Bungalow Hostel San Diego for temporary stays in the area.