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Career and Education Opportunities for Insurance Underwriters in Virginia

Virginia has a population of 7,882,590, which has grown by 11.36% over the past 10 years. Nicknamed the "Old Dominion," its capital is Richmond, though its most populous city is Virginia Beach.

The national trend for insurance underwriters 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 $21 per hour or $45,060 per year on average in Virginia. Nationally they average about $27 hourly or $56,790 yearly. Incomes for insurance underwriters are not quite as good as in the overall category of Accounting and Auditing in Virginia, and better than the overall Accounting and Auditing category nationally. Jobs in this field include: underwriting manager, account underwriter, and commercial lines underwriter.

In 2008, there were a total of 4,916,428 jobs in Virginia. The average annual income was $44,075 in 2008, up from $43,158 the preceding year. The unemployment rate in Virginia was 6.7% in 2009, which has grown by 2.8% since the previous year. About 29.5% of Virginia residents have college degrees, which is higher than the national average.

The top industries in Virginia include computer systems design services, internet service providers, web search portals, and data processing services, and internet service providers search portals. Notable tourist destinations include the Old Coast Guard Station, the Ocean Breeze Water Park, and the Ocean Front Snowboards.

CITIES WITH Insurance Underwriter OPPORTUNITIES IN Virginia


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 Virginia 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.

LOCATION INFORMATION: Virginia

Virginia
Virginia photo by Anderskev

Virginia has a population of 7,882,590, which has grown by 11.36% in the last 10 years. Nicknamed the "Old Dominion," its capital is Richmond, though its most populous city is Virginia Beach. In 2008, there were a total of 4,916,428 jobs in Virginia. The average annual income was $44,075 in 2008, up from $43,158 the preceding year. The unemployment rate in Virginia was 6.7% in 2009, which has grown by 2.8% since the previous year. Roughly 29.5% of Virginia residents have college degrees, which is higher than the national average.

The top industries in Virginia include computer systems design services, internet service providers, web search portals, and data processing services, and internet service providers search portals. Notable tourist destinations include the Old Coast Guard Station, the Aquarist, and the City Directory.