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Career and Education Opportunities for Insurance Underwriters in Kentucky

Kentucky has a population of 4,314,113, which has grown by 6.74% in the last 10 years. Nicknamed the "Bluegrass State," its capital is Frankfort, though its biggest city is Lexington-Fayette.

There are currently 480 jobs for insurance underwriters in Kentucky and this is projected to grow by 10% to 530 jobs 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 $21 per hour or $45,250 yearly on average in Kentucky. In the U.S. as a whole, their income is about $27 per hour or $56,790 annually on average. Earnings for insurance underwriters are not quite as good as earnings in the general category of Accounting and Auditing in Kentucky and better than general Accounting and Auditing category earnings nationally. People working as insurance underwriters can fill a number of jobs, such as: reviewer sales, insurance writer, and automobile and property underwriter.

In 2008, there were a total of 2,442,252 jobs in Kentucky. The average annual income was $31,936 in 2008, up from $31,060 in 2007. The unemployment rate in Kentucky was 10.5% in 2009, which has grown by 3.9% since the previous year. Roughly 17.1% of Kentucky residents have college degrees, which is lower than the national average.

The top industries in Kentucky include tobacco product merchant wholesalers, alumina production, and couriers.

CITIES WITH Insurance Underwriter OPPORTUNITIES IN Kentucky


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 Kentucky 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.

LOCATION INFORMATION: Kentucky

Kentucky
Kentucky photo by Richard Hurt

Kentucky has a population of 4,314,113, which has grown by 6.74% over the past 10 years. Nicknamed the "Bluegrass State," its capital is Frankfort, though its biggest city is Lexington-Fayette. In 2008, there were a total of 2,442,252 jobs in Kentucky. The average annual income was $31,936 in 2008, up from $31,060 in 2007. The unemployment rate in Kentucky was 10.5% in 2009, which has grown by 3.9% since the previous year. About 17.1% of Kentucky residents have college degrees, which is lower than the national average.

The top industries in Kentucky include tobacco product merchant wholesalers, alumina production, and couriers.