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Career and Education Opportunities for Insurance Underwriters in Tallahassee, Florida

There are many career and education opportunities for insurance underwriters in the Tallahassee, Florida area. Currently, 5,750 people work as insurance underwriters in Florida. This is expected to grow by 25% to 7,210 people by 2016. 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. Insurance underwriters generally review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

The income of an insurance underwriter is about $22 per hour or $47,080 per year on average in Florida. In the U.S. as a whole, their income is about $27 hourly or $56,790 annually on average. Incomes for insurance underwriters are not quite as good as in the overall category of Accounting and Auditing in Florida, and better than the overall Accounting and Auditing category nationally. Insurance underwriters work in a variety of jobs, including: reviewer sales, insurance writer, and commercial lines underwriter.

There are nine schools of higher education in the Tallahassee area, including one within twenty-five miles of Tallahassee where you can get a degree to start your career 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 Tallahassee 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 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

Florida State University - Tallahassee, FL

Florida State University, 211 Westcott Bldg, Tallahassee, FL 32306-1037. Florida State University is a large university located in Tallahassee, Florida. It is a public school with primarily 4-year or above programs. It has 38,717 students and an admission rate of 47%. Florida State University has a bachelor's degree program in Insurance which graduated twelve students in 2008.

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.

LOCATION INFORMATION: Tallahassee, Florida

Tallahassee, Florida
Tallahassee, Florida photo by Diligent Terrier

Tallahassee is located in Leon County, Florida. It has a population of over 171,922, which has grown by 14.1% over the last ten years. The cost of living index in Tallahassee, 89, is well below the national average. New single-family homes in Tallahassee are priced at $166,600 on average, which is far less than the state average. In 2008, three hundred new homes were built in Tallahassee, down from six hundred thirty-eight the previous year.

The three big industries for women in Tallahassee are educational services, public administration, and health care. For men, it is public administration, educational services, and accommodation and food services. The average commute to work is about 19 minutes. More than 45.0% of Tallahassee residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 19.8%, is higher than the state average.

The unemployment rate in Tallahassee is 7.1%, which is less than Florida's average of 11.3%.

The percentage of Tallahassee residents that are affiliated with a religious congregation, 37.6%, is less than both the national and state average. Abundant Life Foursquare Church, Advent Episcopal Church and Aftermath Church are among the churches located in Tallahassee. The most common religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.

Tallahassee is home to the Miracle Plaza and the Tallahassee Community College Library as well as Old Fort Park and Alfred B Maclay Gardens State Park. Shopping malls in the area include Northwood Mall, Parkway Shopping Center and Tallahassee Mall. Visitors to Tallahassee can choose from Cactus Motel, Best Western Pride Inn Suites and Budget Inn for temporary stays in the area.