The trend toward self-insurance is expected to lower the demand for some property and casualty underwriters. Businesses that self-insure set a rate for their own company and pay premiums into a reserve fund. These systems automatically analyze and rate insurance applications, then accept or deny the risk without human intervention. Underwriters specializing in one particular area of insurance may find it difficult to transfer to another type of insurance if their jobs are threatened. Because insurance is usually regarded as a necessity, regardless of economic conditions, underwriters are unlikely to be laid off because of a recession.
Most insurance companies have liberal vacation policies and other employee benefits.
Almost all insurance companies provide employer-financed group life and retirement plans. Related Occupations Underwriters make decisions on the basis of financial data. Other workers with the same type of responsibility include auditors, budget analysts , financial advisors, loan officers , credit managers, real estate appraisers, and risk managers. Sources of Additional Information General information about a career as an insurance underwriter is available from the home offices of many life insurance and property and liability insurance companies. The information in the Occupational Outlook Handbook was created by the Department of Labor.