Commercial insurance underwriters write policies for commercial real estate. In order to do this, they must have a solid foundation in many different financial areas and usually have a degree in a related field.
Top 10 Schools with Insurance Programs
While not all schools offer insurance programs below are some of the most reputable.
|College/University||Location||Institution Type||Degrees Offered||Tuition and Fees (2015-2016, Undergraduate, In-State and Out-of-State)|
|University of Pennsylvania||Philadelphia, PA||4-year, Private||Bachelor's, Master's, Doctorate||$49,536
|University of Georgia||Athens, GA||4-year, Public||Certificate, Bachelor's, Master's, Doctorate||$11,622
|St. Joseph's College||Brooklyn, NY||4-year, Private||Certificate, Bachelor's, Master's||$24,113
|University of Wisconsin--Madison||Madison, WI||4-year, Public||Bachelor's, Master's, Doctorate||$10,415
|Temple University||Philadelphia, PA||4-year, Public||Certificate, Bachelor's, Master's, Doctorate||$15,188
|Georgia State University||Atlanta, GA||4-year, Public||Bachelor's, Master's, Doctorate||$8,974
|Florida State University||Tallahassee, FL||4-year, Public||Bachelor's, Master's, Doctorate||$6,507
|New York University||New York, NY||4-year, Private||Certificate, Bachelor's, Master's, Doctorate||$47,750
|University of Illinois - Urbana-Champaign||Champaign, IL||4-year, Public||Bachelor's, Master's, Doctorate||$15,054
|University of Texas - Austin||Austin, TX||4-year, Public||Certificate, Bachelor's, Master's, Doctorate||$9,806
Source: *NCES College Navigator
School Selection Criteria
A few considerations that students should consider when looking at schools for commercial underwriting are detailed below:
- Most employers seek applicants with a degree in accounting or finance, but some schools also offer a specific insurance program as a major, a minor, or as a concentration within a business administration program.
- Many courses required for a degree in finance address insurance policies while accounting degrees are rooted in math and economics; schools that offer degree programs in risk management, insurance or analytical finance may be ideal for aspiring underwriters.
- Some schools that offer accounting or finance programs also offer a minor in risk management, which consists of courses that introduce students to the principles of insurance.
- For the professional underwriter seeking additional specialization, underwriting courses are offered through professional organizations where you can earn an Associate in Underwriting (AU) designation after successful completion of an exam.
B.S. in Accounting
Accounting students learn to create income statements and analyze profitability through courses such as financial accounting, cost accounting and auditing.
B.S. in Finance
Finance programs may be more appealing for the aspiring underwriter, with courses like financial markets, investing and real estate development. Students should also consider taking a course in financial analysis, as it is a main job requirement in commercial underwriting.
Individuals interested in becoming commercial mortgage underwriters should make several considerations when choosing programs such as location, course offerings, and career goals. Backgrounds in finance, accounting, and real estate are also helpful.