Insurance Underwriter Salary in Chicago, Illinois

How much does an Insurance Underwriter make in Chicago, IL?

As of April 01, 2025, the average annual salary for an Insurance Underwriter in Chicago, IL is $65,599. Salary.com reports that pay typically ranges from $58,619 to $74,490, with most professionals earning between $52,263 and $82,585.

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Salary range for an Insurance Underwriter

$58,619 to $74,490

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Insurance Underwriter

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Job Openings for Insurance Underwriter in Chicago, IL

What does an Insurance Underwriter do?

Common responsibilities of an Insurance Underwriter

Assists Director of Underwriting on overseeing workloads and managing turnaround times within the department.

December 08, 2022

Develops on-going relationships with agents, monitor profitability and quality of submissions along with the marketing team to keep agent up-to-date with underwriting and/or product changes, efficiently and profitably.

January 11, 2023

Provide positive and ongoing communication with field personnel, assisting with product and coverage information, risk placement, risk mitigation, profitability, and loss ratio analysis.

February 04, 2023

Actively participates in continuous improvement by fully engaging in meetings, generating suggestions, following appropriate procedures and continuous process improvement work principles, participating in problem solving activities, and utilizing continuous improvement tools to support the work of the team.

February 19, 2023

Prepare commercial title binders, policies and any related endorsements and correspondence.

February 25, 2023

Communicates with agents on underwriting issues including, but not limited to, decisions on cancellations, declinations, exposure concerns, and survey results.

March 20, 2023

Participate in business development/referral programs which contribute to the overall profitability of the company.

April 29, 2023

Review inspection reports and compare to the conditions that were represented to us at the time of binding and take appropriate or needed actions as directed by your Team Leader.

April 30, 2023

Demonstrate success in the marketing and sales of intangibles, negotiating, building strong relationships with customers, and providing exceptional customer service.

May 08, 2023

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Insurance Underwriter Salary By Experience Levels in Chicago, IL

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RELEVANT JOB EXPERIENCE

Length of experience is a pay differentiator. Those with greater experience may have an advantage in negotiating salary. For those with less experience, other factors such as education or special skills could impact your pay. Please visit Professional Salary Report for more details.

Insurance Underwriter Salary By Level of Education in Chicago, IL

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LEVEL OF EDUCATION

Depending on the job, educational levels may have a significant impact on pay levels. Be informed and understand how things like education and certifications can help to increase potential earnings for the career you are interested in. Please visit Professional Salary Report for more details.

Average Salary Range for Insurance Underwriter in Chicago, IL

Average Base Salary

Core compensation

58619

74490

65599

Average Total Cash Compensation

Includes base and annual incentives

60470

78355

68141

What is the average salary for Insurance Underwriter in 2025?

These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Insurance Underwriter in Chicago, IL. The base salary for Insurance Underwriter ranges from $58,619 to $74,490 with the average base salary of $65,599. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $60,470 to $78,355 with the average total cash compensation of $68,141.

View Average Salary for Insurance Underwriter as table

	Average Salary	Average Salary Range
Base Salary	$65,599	$58,619 - $74,490
Bonus	$2,542	$1,851 - $3,865
Total Pay	$68,141	$60,470 - $78,355

* Base Salary represents gross income before taxes and deductions. It does not include additional pay such as benefits, bonuses, profit sharing or commissions.

* Total Pay combines base salary, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job.

Insurance Underwriter Salary Near Chicago, IL

CITY, STATE	AVERAGE SALARY RANGE	COMPARE TO Chicago, IL
CITY, STATE Cicero, IL	AVERAGE SALARY RANGE $58,619 - $74,490	COMPARE TO Chicago, IL 0%
CITY, STATE Oak Park, IL	AVERAGE SALARY RANGE $58,619 - $74,490	COMPARE TO Chicago, IL 0%
CITY, STATE Oak Lawn, IL	AVERAGE SALARY RANGE $58,551 - $74,404	COMPARE TO Chicago, IL
CITY, STATE Evanston, IL	AVERAGE SALARY RANGE $58,596 - $74,461	COMPARE TO Chicago, IL
CITY, STATE Skokie, IL	AVERAGE SALARY RANGE $58,596 - $74,461	COMPARE TO Chicago, IL
CITY, STATE Arlington Heights, IL	AVERAGE SALARY RANGE $57,393 - $72,933	COMPARE TO Chicago, IL

See salaries for Insurance Underwriter in locations close to Chicago, IL. Pay for the same job may vary based on the location and on the location and on other factors such as the size of company, the industry, and other local conditions.

About Chicago, Illinois

Chicago (/ʃɪˈkɑːɡoʊ/ (listen), locally also /-ˈkɔː-/), officially the City of Chicago, is the most populous city in Illinois, as well as the third most populous city in the United States. With an estimated population of 2,716,450 (2017), it is the most populous city in the Midwest. Chicago is the principal city of the Chicago metropolitan area, often referred to as Chicagoland, and the county seat of Cook County, the second most populous county in the United States. The metropolitan area, at nearly 10 million people, is the third-largest in the United States, and the fourth largest in North A...

Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia

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The Insurance Underwriter job could be listed using titles that are not exactly the same, but actually are for the same or very similar job. Here are some job titles in Chicago, IL that might be a good fit for the type of job and salary you are looking for.

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