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Career and Education Opportunities for Insurance Underwriters in Delaware

Delaware has a population of 885,122, which has grown by 12.96% over the past 10 years. Nicknamed the "First State," its capital is Dover, though its biggest city is Wilmington.

About 290 people are currently employed as insurance underwriters in Delaware. By 2016, this is expected to grow 11% to 320 people employed. This is better than the national trend for insurance underwriters, which sees this job pool shrinking by about 4.1% over the next eight years. In general, insurance underwriters review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Insurance underwriters earn approximately $27 hourly or $57,480 per year on average in Delaware. Nationally they average about $27 hourly or $56,790 yearly. Earnings for insurance underwriters are better than earnings in the general category of Accounting and Auditing in Delaware and better than general Accounting and Auditing category earnings nationally. People working as insurance underwriters can fill a number of jobs, such as: underwriting service representative, customer service representative, and health underwriter.

In 2008, there were a total of 553,149 jobs in Delaware. The average annual income was $40,375 in 2008, up from $39,932 the preceding year. The unemployment rate in Delaware was 8.1% in 2009, which has grown by 3.2% since the previous year. Approximately 25.0% of Delaware residents have college degrees, which is higher than the national average.

The top industries in Delaware include nondurable goods merchant wholesalers, management of companies, and offices of other holding companies. Notable tourist attractions include the Delaware Center for the Contemporary Arts, the Arden Craft Shop Museum, and the Historical Society of Delaware.

CITIES WITH Insurance Underwriter OPPORTUNITIES IN Delaware


JOB 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.

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.

Similar jobs with educational opportunities in Delaware 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.

LOCATION INFORMATION: Delaware

Delaware
Delaware photo by Tim Kiser

Delaware has a population of 885,122, which has grown by 12.96% over the past decade. Nicknamed the "First State," its capital is Dover, though its largest city is Wilmington. In 2008, there were a total of 553,149 jobs in Delaware. The average annual income was $40,375 in 2008, up from $39,932 the previous year. The unemployment rate in Delaware was 8.1% in 2009, which has grown by 3.2% since the previous year. Approximately 25.0% of Delaware residents have college degrees, which is higher than the national average.

The top industries in Delaware include nondurable goods merchant wholesalers, management of companies, and offices of other holding companies. Notable tourist attractions include the Arden Craft Shop Museum, the Delaware Center for the Contemporary Arts, and the Historical Society of Delaware.