Insurance Underwriter Commercial Property salary in Iceland

Average Yearly Salary of Insurance Underwriter Commercial Property in Iceland is approximately 11,950,788 ISK (83,675 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Insurance Underwriter Commercial Property do?

An insurance underwriter for commercial property is responsible for evaluating and assessing the risks associated with insuring commercial properties. They analyze various factors such as location, construction type, occupancy, and fire protection measures to determine the appropriate coverage and premium rates. The underwriter reviews applications, gathers necessary information, and conducts risk assessments to make informed decisions on policy approvals or rejections. They also collaborate with brokers, agents, and other professionals to ensure accurate and comprehensive underwriting. Additionally, they may negotiate terms and conditions, prepare policy documents, and provide guidance on risk management strategies to clients.

Skills: insurance underwriter, commercial property, risk assessment, policy approval, premium rates, risk management.
Job industry: Insurance

How much does Insurance Underwriter Commercial Property make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Insurance Underwriter Commercial Property a well paid job?

Yes, our data shows that Insurance Underwriter Commercial Property is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Insurance Underwriter Commercial Property?

High salary for Insurance Underwriter Commercial Property would be somewhere between 13,145,867 ISK and 17,328,643 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Insurance Underwriter Commercial Property in Iceland?

Living in Iceland the approximate monthly expenses are: 2,729 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 11,950,788 ISK
Estimated Monthly Salary: 995,899 ISK
Estimated Weekly Salary: 229,823 ISK per week
Estimated Hourly Salary: 5,746 ISK per hour
By working as Insurance Underwriter Commercial Property a person can save up to 4,244 USD per month or 50,929 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Iceland, see costs of living in Iceland.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Norway, Faroe Islands, United Kingdom.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Insurance Underwriter Commercial Property

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

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Data as of 2025

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