Top 15 Best Paying Jobs In Property And Casualty Insurers (Updated 2024)

Top 15 Best Paying Jobs In Property And Casualty Insurers

Your home and other property that you own are covered by the property insurance. If you are held accountable for an accident that negatively affects others, the casualty insurance provides protection.

Insurance is a lucrative industry to work in as it only continues to grow. It’s a crucial element for both people and businesses to have their assets covered in the event that something happens to them. The top 15 best paying jobs in property and casualty insurers shows just how perfect of an industry it is to consider. 

What Is A Property And Casualty Insurer?

Property and casualty insurance is important for any homeowner to ensure that, in the event anything out of your control happens inside your home, anything that gets damaged in the process is protected. It also offers additional protection should any kind of accident occur in or on your property that injures a person in some capacity or damages another’s property.

That said, property and casualty insurance can extend beyond your home. It can offer you financial protection for other types of property you may own or be in charge of. 

Are Property And Casualty Insurer Jobs A Good Career Path?

Some people are concerned about getting into insurance because the industry has a reputation for being heartless and rigid. However, that doesn’t mean you have to be. It is an industry with a lot of rules, but as long as you follow them and keep the customer at the heart of everything you do, you’ll find property and casualty insurance is a very promising career path. 

What you should keep in mind is that there’s an educational component involved in selling insurance. You will have to learn about the industry in your locality, take an exam, and get a certification in order to be able to work in insurance. Once you have this license under your belt, you have a lot of options for where you can work. 

Top 15 Best Paying Jobs In Property And Casualty Insurers

As to be expected, you can make a substantial income when you work in insurance. Salaries can vary, with some companies offering a salary or commissions or a combination of the two. Some jobs start out on the lower end in terms of salary have a lot of potential for growth as you gain more experience in the field. 

The insurance industry is also one that evolves. While not all job prospects seem especially high at the interim, there’s the potential that some of the lower growth rates on this list are just temporary. Salaries can also vary greatly in terms of range, but the salaries listed here fall somewhere in the middle of what you can expect. 

You don’t also want to miss our favorite picks in this category:

1. Underwriting Manager

Median Salary: $115.000+ per year 

Education: Degree 

Projected Growth: 5%

Underwriters have a big role in the insurance industry, and an underwriting manager ensures that the underwriters are equipped with all the tools necessary to make the right decisions for insurance policies. A manager will usually gain experience as an underwriter themselves before taking on a manager’s position. 

Given how rewarding, though albeit a prestigous position this is, it’s by far one of the top 15 best paying jobs in property and casualty insurers. 

2. Actuary 


Median Salary: $110,000+ per year 

Education: Bachelor’s Degree 

Projected Growth: 21%

Insurance is a numbers game as you would expect. To create the policies that are sold to customers, someone has to formulate those policies based on things like statistics and potential risks. If this sounds like fun to you, you may be interested in becoming an actuary. 

Actuaries can make good money, but they also have a lot of options in terms of where they can work. An actuary will take statistics and apply them to the products offered by insurance agencies or use them to come up with new types of policies and products to offer to clients. 

3. Risk Management 

Median Salary: $110,000 + a year

Education: Bachelor’s Degree

Projected Growth: 17%

Since you’re responsible for managing the risk that can be involved with property and casualty insurance, risk management typically requires some experience in risk assessment before you take on a managerial role. There is always some kind of risk involved in insurance, but a risk manager wants to try to limit that as much as possible. 

4. Insurance Broker 

Median Salary: $100,000 + Per Year 

Education: High school diploma and license

Projected Growth: 6%

If you like the idea of working with property and casualty insurance but want to be a little bit more independent, working as an insurance broker could be a role suited for you. Instead of going to an agency, a customer would come to you and tell you what kind of insurance they’re looking for. 

As a broker, your role is to contact agencies and try to find your customer the best policies that meet all of their needs and is at a rate they can afford. They do this by maintaining the most current knowledge on financial trends and the market so they can continue to build a trusted rapport with both prospective and current clientele. 

5. Insurance Underwriter 

Median Salary: $76,000 per year

Education: Bachelor’s Degree

Projected Growth: -2%

An insurance underwriter is responsible for evaluating whether or not a prospective client is suitable for the insurance package they’re interested in. The reason that insurance agents typically ask so many questions is to assist the underwriter in helping to make a final decision for approval. 

An underwriter’s goal in analyzing customer information is to see what the probability is that a customer would end up needing to make an insurance claim. Ideally, insurance companies don’t want to have to continuously shell out money for claims so they might deny a person who could be seen as a liability. 

6. Casualty Underwriter

Median Salary: $95,000 a year

Education: A degree and certification 

Projected Growth: -4%

The term casualty might sound a little bit gloomy, but considering all the ways a person or a property might be liable is something that needs to be done. Insurance is meant to cover situations where bad things might happen, and a casualty underwriter will help to make sure that the risk for a casualty isn’t too great. 

A person who owns a property for any reason, whether a personal home or a business, will usually want to consider having casualty insurance as part of their coverage. While nobody wants to think about worst case scenarios, having protection should anything bad happen on your property is important. It can help cover repairs, medical bills, and anything else related to an unfortunate incident. 

Based on information gathered from a client compared to their knowledge of the current market, a casualty underwriter will help an agency or brokerage make decisions about who they want to extend policies to. 

7. Property Underwriter 

Median Salary: $70,000 per year

Education: Bachelor’s Degree

Projected Growth: 1%

Similar to a casualty underwriter, a property underwriter will learn everything there is to know about a particular kind of property in order to understand if there are any risks about extending an insurance policy to cover it. An underwriter of this type will help try and save the agency they work with from any potential loss due to high risk policies. 

A property underwriter will have to overlook a lot of data related to a property from multiple sources and analyze all the pieces to help an agent or a broker determine if a policy will be approved. You will also have to have a thorough knowledge of finance and risk assessment amongst understanding the insurance world. 

8. Insurance Project Manager 

Median Salary: $100,000+ per year 

Education: Diploma/Degree and Certification 

Projected Growth: 7%

An insurance project manager can help an agency or brokerage consult potential new leads for clients that are looking to purchase property and casualty insurance. This role will often handle larger scale clients like businesses, corporations, and property managers that may own multiple properties that need an insurance policy. 

9. Insurance Sales Agent

Median Salary: $50,000+ a year

Education: High School Diploma and Certification

Projected Growth: 7%

You can potentially become an insurance agent by just getting your certification, which requires taking a few courses and passing the exam. Some agencies only require this, and while you might make less money, the income is still good. It’s a great place to start out your career in insurance. 

As an insurance sales agent, you will typically be the first point of contact for people who are interested in purchasing property and casualty insurance. If you’re able to maintain positive interactions with people, even in stressful situations, this could end up being a position for you. 

There is a lot of potential for growth as an insurance sales agent, as well as a variety of options of financial institutions or insurance agencies that you can work with. As you gain experience, you can see your salary rise as well with that experience. 

10. Cost Estimator 

Median Salary: $65,000 per year 

Education: Bachelor’s Degree

Projected Growth: 1%

Cost estimators are able to help insurance companies, brokerages, and financial institutions gather data that’s needed to understand all that goes into the cost of different kinds of property and properties. As to be expected, the value of various types of property changes all the time, meaning there is always something for you to review. 

This is an excellent career path for a person who likes numbers and working with data points, as well as someone who is meticulous, detail-oriented, and organized. 

11. Insurance Claim Adjuster 

Median Salary: $65,000 per year

Education: High school diploma and Certification

Projected Growth: -3%

An insurance claim adjuster requires a little bit of detective work, so if you’re someone who pays close attention to detail, this could be an enjoyable career option for you. When a client sends in a request to make an insurance claim, a claim adjuster will be partially responsible for evaluating the claim.

This role usually involves gathering evidence and information regarding the incident, which could mean talking to witnesses, taking a look at properties, or reviewing paperwork. This information is used to estimate the cost of the property damage or casualty damage and decide how much insurance will be able to cover it. 

As you gain experience in this role, there is the potential to move up in the brokerage you choose to work with. As a result, you’ll see your salary increase as well. 

12. Actuarial Analyst

Median Salary: $75,000 per year

Education: Degree

Projected Growth: 20%

Before becoming an actuary, one might start out as an analyst to gain further insight into everything that goes into actuarial sciences. An actuarial analyst will use their knowledge of measuring statistics and apply them to any number of scenarios, whether they’re likely or unlikely. 

To analyze appropriately, you will have to have apt problem solving skills mixed in with advanced numerical knowledge and the ability to do thorough research. All of these strengths will allow you to think of any liability your insurance agency needs to prepare for. 

13. Insurance Appraiser 

Median Salary: $52,000 per year 

Education: High school diploma and Certification

Projected Growth: -3%

Being an insurance appraiser can be an interesting career, especially if you’re someone who doesn’t like to stay in one place. With this job, you’ll likely be on the road fairly often when you have to analyze a property in order to determine its value. This is essentially what an appraisal is; a thorough inspection that allows you to decide the value of an asset. 

This is an important part of the insurance process because it helps determine what kind of insurance policy would be best to cover what a client is looking for. On the other hand, when a client is trying to make a claim, an appraiser will often take inventory of what the damage could cost to be repaired. 

14. Insurance Manager

Median Salary: $65,000 per year

Education: Bachelor’s Degree

Projected Growth: 7%

Someone who has always been regarded as a thoughtful and motivating leader could fit well into an insurance manager role. As a manager, you would be responsible for overseeing the day to day operations of the branch you’re working at, whether for an agency, brokerage, or financial institution. 

Part of this duty will include making sure that policies are set up accordingly and they are being maintained by agents, while also ensuring that records are kept up to date and protected. Additionally, you will often take on helping agents assist clients should matters become complicated or when situations outside of the norm occur. 

Branches will usually have sales targets that they have to meet and a manager will want to motivate their staff appropriately to aim for those targets. These sales not only help agents get commissions, but they contribute to the overall success of the branch. 

15. Customer Service Representative 

Median Salary: $37,000 + per year

Education: High school diploma

Projected Growth: -1%

A customer service representative for an insurance agency or brokerage can be a good role to dip your toes into the insurance world. It could be valuable to be able to learn from others in the field with more experience, ask any questions you can’t read from a book, and decide whether you want to pursue getting your certification or expanding your horizons into an insurance related career. 

In this role, you will usually answer general inquiries for customers, help them get appointments booked, help them with various types of transactions, and assist with potential complaints or concerns from clients. 


Should you be intrigued by a career change, are good with numbers, and have a knack for understanding finances, you have quite a few gainful and rewarding opportunities to consider with the top 15 best paying jobs in property and casualty insurers. 

The industry is only going to continue to have career vacancies that are waiting for you to fill them. There will always be properties to insure, and you can be a part of that process in any way that may potentially excite you. 


Is P;C Insurance A Good Career?

While working in property and casualty insurance is a good career path financially and prospect-wise, one might wonder whether or not it would be a career that is enjoyable. It’s not always an easy job, but when you approach the industry with honesty and integrity, you’ll find that it’s ultimately rewarding. 

Who Is The Largest P;C Insurance Company In The World?

The largest and perhaps the most famous property and casualty insurance company in the world would be Berkshire and Hathaway which is based in the United States. Allianz, American International Group, Liberty Mutual, and Progressive are just a few of the other companies that are known for selling these types of insurance. 

What Is The Hardest Part Of Being An Insurance Agent?

The hardest part of being an insurance agent or working in the insurance industry in general is generating and capturing leads that turn into customers. You may or may not have to be concerned with this depending on the role you choose, but your dedication to your craft will play a role in making sure your clients are satisfied with the insurance policy they’re paying for. 

Josh Hutcheson

E-Learning Specialist in Online Programs & Courses Linkedin

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