The 7 Best-Paying Jobs in the Property and Casualty Insurance Industry

11/24/22 by Zack Saadioui

If you're looking for a career in the insurance industry that pays well, you'll want to consider a job in the property and casualty insurance sector. Here are seven of the best-paying jobs in this field, based on data from the Bureau of Labor Statistics.

Property and Casualty Insurance Agent

Property and casualty insurance agents are the individuals who sell insurance policies to protect people and businesses from financial losses due to accidents, fires, thefts, and other events. They work with clients to determine the types and amounts of coverage they need, and then they find the insurance companies that offer the best rates and coverage for their needs. Property and casualty insurance agents typically work for insurance brokerages or agencies, and they earn a commission on the policies they sell.

Adjuster

An adjuster is responsible for investigating insurance claims and determining the extent of the insurance company's liability. They also negotiate settlements with claimants and represent the insurance company in court. Adjusters typically work for insurance companies, but may also be self-employed. The median annual salary for an adjuster is $63,870, according to the U.S. Bureau of Labor Statistics. However, the top 10 percent of earners in the profession make more than $104,610, while the bottom 10 percent make less than $36,620.

Appraiser

An appraiser is a professional who is responsible for estimating the value of property, usually for the purpose of insurance. Appraisers are often hired by insurance companies to help them determine the value of a property in the event of a claim. The job of an appraiser is to visit the property, assess the damage, and estimate the value of the property. Appraisers must be able to communicate their findings to the insurance company in a clear and concise manner.

Insurance Sales Agent

An insurance sales agent is a professional who helps people find the insurance coverage they need and assists them with the purchase of the policy. Insurance sales agents work with a variety of insurance companies and sell a variety of insurance products, such as auto, home, life, and health insurance. They must be licensed by the state in which they work. The median annual salary for insurance sales agents was $48,150 in 2017. The top 10 percent of insurance sales agents earned more than $116,940, and the bottom 10 percent earned less than $26,120. The best-paying states for insurance sales agents are New York, New Jersey, and Connecticut.

Underwriter

An underwriter is responsible for evaluating insurance applications and deciding whether to provide coverage and at what price. They use their knowledge of the insurance market and the applicant’s circumstances to make a decision. Underwriters must have a strong understanding of the insurance market, the products offered, and the risks involved in providing coverage. They must also be able to assess an applicant’s financial situation and evaluate their ability to pay premiums.

Claims Examiner

A Claims Examiner is responsible for investigating, evaluating, and resolving insurance claims. They work with policyholders, claimants, and witnesses to gather information and determine the extent of the insurer’s liability. Claims Examiners must have strong analytical and communication skills, as well as knowledge of state insurance regulations. Many Claims Examiners have a bachelor’s degree in business or a related field. The median annual salary for a Claims Examiner is $63,000.

Insurance Manager

An insurance manager is a professional who helps companies plan for and manage risk. They work with clients to develop risk management strategies, identify potential risks, and create plans to mitigate those risks. Insurance managers also work with insurance carriers to develop coverage options and negotiate rates. The property and casualty insurance industry is a large and growing industry, and insurance managers play a vital role in its operations. The median annual salary for insurance managers is $85,000, and the top earners in the field make over $120,000 per year. The job outlook for insurance managers is positive, with an expected growth rate of 10% over the next ten years.

Conclusion

The insurance industry is a great place to start a career. With so many options available, there is bound to be a job that suits your skills and interests. The property and casualty insurance industry is a great place to start your career if you are interested in a high-paying job. The seven best-paying jobs in this industry are claims adjusters, insurance underwriters, insurance brokers, insurance agents, insurance analysts, insurance managers, and insurance company executives. With a little research, you can find the perfect job for you in the insurance industry.