Insurance underwriters (NOC 1313)

About this job

Insurance underwriters:

  • review and evaluate insurance applications to determine insurance risks, insurance premiums and extent of insurance coverage according to company policies
  • work at head and branch offices of insurance companies
Common job titles
  • analyst, insurance rating
  • underwriter, accident / life / group
  • underwriter, auto / boiler & machinery
  • underwriter, commercial / farm
  • underwriter, head office
  • underwriter, home office / personal lines

Duties

Insurance underwriters:

  • review individual and group applications for automobile, fire, health, liability, life, property, marine, aircraft and other insurance
  • evaluate new and renewal applications to determine insurance risks, insurance premiums, level of insurance coverage and other conditions of the insurance contract using medical reports, rate tables and other documents and reference materials
  • adjust premiums, coverage or risk itself to make acceptance of new and renewal applications possible
  • approve sale of insurance policies and ensure compliance with government regulations
  • provide recommendations on individual or group insurance plan designs
  • provide underwriting advice and answer questions from clients and from insurance agents, consultants and other company personnel
  • prepare underwriting reports and update insurance forms when necessary

Work environment

Work in this occupation is typically performed in a structured environment, such as an office.

Career paths and resources

Career paths

Promotion to management positions, such as underwriter manager, is possible with experience.

Completion of educational programs through the Insurance Institute of Canada or its provincial counterparts entitles insurance underwriters to professional recognition as an Associate of the Insurance Institute of Canada (A.I.I.C.) and with additional university courses, as a Fellow of the Insurance Institute of Canada (F.I.I.C.).

Additional resources

Additional resources are not currently available for this career.