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Insurance Underwriter

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AVG. SALARY

$53,620

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EDUCATION

Bachelor's degree

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JOB OUTLOOK

Stable

Real-Life Activities

Real-Life Decision Making -- Solution

You approve the application at the standard rate.

Two years down the road, a claim is entered on this policy. It turns out this customer had a history of hypertension, which caused a heart attack. Your supervisor wants to know why you didn't look into this application more closely. This error has cost your company a lot of money.

"We approve about 85 to 90 percent of our applications," says Facteau. "But essentially we're risk managers."

Underwriters are responsible for assuming the risk of insuring the applicants. If they aren't thorough enough, it can mean big losses for the company.