Insurance underwriters analyze and assess insurance applications to regulate insurance risks, insurance rewards, and insurance coverage extent according to company rules. They are hired at the insurance company’s head and branch offices. Moreover, this occupation will come under the TEER code 12202.
Duties Of The Insurance Underwriter Jobs In Canada
The insurance underwriter will generally do the below duties.
- Evaluate individual and group applications for automobile, property, marine, fire, health, liability, life, aircraft, and other insurance.
- Assess new and renewal applications to regulate insurance risks, insurance premiums, insurance coverage extent, and other insurance contract conditions using medical reports, rate tables, other documents, and reference materials; regulate premiums, coverage, or risk itself to make acceptance of new, and renewal applications probable.
- Approve the sale of insurance rules and ensure agreement with government rules
- Offer references on individual or group insurance plan plans
- Offer underwriting guidance and answer questions from clients, insurance managers, consultants, and other company workers.
- Prepare underwriting reports and update insurance forms when essential.
Job Titles Of The Insurance Underwriters
- Group underwriter
- Insurance underwriter
- Liability underwriter
- Property underwriter
Hourly Wages For The Insurance Underwriter Jobs In Canada
Go through the below lines to know the hourly wages for insurance underwriter jobs in Canada.
Community/Area | Low ($/hour) | Median ($/hour) | High ($/hour) |
Canada | 21.54 | 32.97 | 53.85 |
Newfoundland and Labrador | 17.25 | 27.34 | 40.26 |
Avalon Peninsula Region | N/A | N/A | N/A |
Notre Dame-Central-Bonavista Bay Region | N/A | N/A | N/A |
South Coast–Burin Peninsula Region | N/A | N/A | N/A |
West Coast–Northern Peninsula–Labrador Region | N/A | N/A | N/A |
Prince Edward Island | N/A | N/A | N/A |
Nova Scotia | 18.75 | 23.63 | 48.08 |
Annapolis Valley Region | N/A | N/A | N/A |
Cape Breton Region | N/A | N/A | N/A |
Halifax Region | 18.75 | 24.73 | 48.08 |
North Shore Region | N/A | N/A | N/A |
Southern Region | N/A | N/A | N/A |
New Brunswick | 16.50 | 28.85 | 40.00 |
Campbellton–Miramichi Region | N/A | N/A | N/A |
Edmundston–Woodstock Region | N/A | N/A | N/A |
Fredericton–Oromocto | N/A | N/A | N/A |
Moncton–Richibucto Region | 16.50 | 27.34 | 40.00 |
Saint John–St. Stephen Region | 16.50 | 28.85 | 40.00 |
Quebec | 25.50 | 31.40 | 55.46 |
Abitibi-Témiscamingue Region | N/A | N/A | N/A |
Bas-Saint-Laurent Region | N/A | N/A | N/A |
Capitale-Nationale Region | 25.00 | 29.00 | 37.36 |
Centre-du-Québec Region | N/A | N/A | N/A |
Chaudière-Appalaches Region | 25.50 | 31.40 | 55.46 |
Côte-Nord Region | N/A | N/A | N/A |
Estrie Region | N/A | N/A | N/A |
Gaspésie–Îles-de-la-Madeleine Region | N/A | N/A | N/A |
Lanaudière Region | N/A | N/A | N/A |
Laurentides Region | 25.50 | 31.40 | 55.46 |
Laval Region | 25.50 | 31.40 | 55.46 |
Mauricie Region | N/A | N/A | N/A |
Montréal Region | 25.50 | 31.40 | 55.46 |
Montérégie Region | 25.50 | 31.40 | 55.46 |
Nord-du-Québec Region | N/A | N/A | N/A |
Outaouais Region | N/A | N/A | N/A |
Saguenay–Lac-Saint-Jean Region | N/A | N/A | N/A |
Ontario | 20.00 | 32.97 | 50.00 |
Hamilton–Niagara Peninsula Region | 20.00 | 35.00 | 59.34 |
Kingston–Pembroke Region | N/A | N/A | N/A |
Kitchener–Waterloo–Barrie Region | 18.46 | 33.33 | 48.72 |
London Region | N/A | N/A | N/A |
Muskoka–Kawarthas Region | 20.00 | 32.97 | 50.00 |
Northeast Region | 20.00 | 32.97 | 50.00 |
Northwest Region | N/A | N/A | N/A |
Ottawa Region | 20.00 | 32.97 | 50.00 |
Stratford–Bruce Peninsula Region | N/A | N/A | N/A |
Toronto Region | 21.54 | 33.65 | 53.85 |
Windsor-Sarnia Region | N/A | N/A | N/A |
Manitoba | 21.00 | 27.69 | 41.03 |
Interlake Region | N/A | N/A | N/A |
North Central Region | N/A | N/A | N/A |
North Region | N/A | N/A | N/A |
Parklands Region | N/A | N/A | N/A |
South Central Region | N/A | N/A | N/A |
Southeast Region | N/A | N/A | N/A |
Southwest Region | N/A | N/A | N/A |
Winnipeg Region | 23.00 | 27.69 | 43.80 |
Saskatchewan | 25.00 | 34.62 | 48.08 |
Northern Region | N/A | N/A | N/A |
Prince Albert Region | N/A | N/A | N/A |
Regina–Moose Mountain Region | 25.00 | 34.62 | 48.08 |
Saskatoon–Biggar Region | N/A | N/A | N/A |
Swift Current–Moose Jaw Region | N/A | N/A | N/A |
Yorkton–Melville Region | N/A | N/A | N/A |
Alberta | 22.86 | 33.85 | 43.41 |
Athabasca–Grande Prairie–Peace River Region | 22.86 | 33.85 | 43.41 |
Banff–Jasper–Rocky Mountain House Region | N/A | N/A | N/A |
Calgary Region | 22.86 | 33.52 | 38.69 |
Camrose–Drumheller Region | N/A | N/A | N/A |
Edmonton Region | N/A | N/A | N/A |
Lethbridge–Medicine Hat Region | N/A | N/A | N/A |
Red Deer Region | N/A | N/A | N/A |
Wood Buffalo–Cold Lake Region | N/A | N/A | N/A |
British Columbia | 20.00 | 40.38 | 68.68 |
Cariboo Region | N/A | N/A | N/A |
Kootenay Region | N/A | N/A | N/A |
Lower Mainland–Southwest Region | 20.00 | 40.38 | 68.68 |
Nechako Region | N/A | N/A | N/A |
North Coast Region | N/A | N/A | N/A |
Northeast Region | N/A | N/A | N/A |
Thompson–Okanagan Region | N/A | N/A | N/A |
Vancouver Island and Coast Region | 20.00 | 40.38 | 68.68 |
Yukon Territory | N/A | N/A | N/A |
Northwest Territories | N/A | N/A | N/A |
Nunavut | N/A | N/A | N/A |
Prospects Of Insurance Underwriter Jobs In Canada
Location | Job prospects |
Alberta | Good |
British Columbia | Limited |
Manitoba | Good |
New Brunswick | Good |
Newfoundland and Labrador | Undetermined |
Northwest Territories | Undetermined |
Nova Scotia | Moderate |
Nunavut | Undetermined |
Ontario | Good |
Prince Edward Island | Undetermined |
Quebec | Good |
Saskatchewan | Very good |
Yukon Territory | Undetermined |
Available Insurance Underwriter Jobs In Canada
Location | Available jobs |
British Columbia | 2 |
Canada | 31 |
New Brunswick | 1 |
Prince Edward Island | 1 |
Québec | 25 |
Saskatchewan | 2 |
Requirements For The Insurance Underwriter Jobs In Canada
You would need the below things usually for the insurance underwriter jobs in Canada.
- Secondary school completion and some general insurance experience or A bachelor's degree, college diploma, or some post-secondary education is mandatory.
- Numerous years of on-the-job training and insurance industry underwriting courses completion and training programs are essential.
Last Few Words
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