Insurance Carriers

This industry group comprises establishments primarily engaged in underwriting (assuming the risk, assigning premiums, and so forth) annuities and insurance policies and investing premiums to build up a portfolio of financial assets to be used against future claims. Direct insurance carriers are establishments that are primarily engaged in initially underwriting and assuming the risk of annuities and insurance policies. Reinsurance carriers are establishments that are primarily engaged in assuming all or part of the risk associated with an existing insurance policy (or set of policies) originally underwritten by another insurance carrier.

Industries are defined in terms of the type of risk being insured against, such as death, loss of employment because of age or disability, and/or property damage. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves.

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Occupations in Demand in the Insurance Carriers Industry
Engineering Managers	$86,817	70	Medium	40	89	Bachelor's degree & work exp
Financial Managers	$74,338	190	Medium	70	136	Bachelor's or higher degree
Sales Managers	$73,119	140	High	60	124	Bachelor's degree & work exp
Medical & Health Services Managers	$67,922	170	High	80	183	Bachelor's or higher degree
Securities, Commodities, & Financial Services Sales Agents	$67,186	90	Medium	40	106	Bachelor's degree & related work experience
General & Operations Managers	$65,779	920	Low	470	883	Bachelor's or higher degree
Computer Systems Analysts	$63,579	100	High	20	57	Bachelor's degree
Management Analysts	$58,072	70	Low	80	135	Bachelor's degree & work exp
Computer Programmers	$56,455	70	Medium	50	100	Bachelor's degree
Computer Software Engineers	$56,426	110	Medium	20	122	Bachelor's degree
Network Systems & Data Analysts	$53,833	60	High	20	80	Bachelor's degree
Network & Computer Systems Admins.	$51,735	150	High	30	113	Bachelor's degree
Registered Nurses	$50,742	600	High	750	1,908	Assoc./Bachelor's degree
Claims Adjusters, Examiners, & Investigators	$50,409	40	Low	6	31	Long-term on-the-job training
Accountants & Auditors	$49,278	530	Medium	290	492	Bachelor's degree
HR, Training & Labor Relation Specialists	$48,095	120	High	50	139	Bachelor's degree
Training & Development Specialists	$48,018	50	Low	20	59	Bachelor's or higher degree
Purchasing Agents & Buyers (incl. Farm Products & Wholesale Trade)	$44,189	110	High	70	107	Bachelor's degree & related work experience
Business Operations Specialists	$39,953	1,320	High	580	1,569	Bachelor's degree
Database Administrators	$39,613	NR	Low	NR	NR	Bachelor's or higher degree
Exec. Secretaries & Admin. Assistants	$34,938	580	Medium	320	572	Moderate on-the-job training
Computer Support Specialists	$34,689	170	Medium	50	114	Associate degree
Insurance Sales Agents	$34,189	60	Low	14	23	Bachelor's or higher degree
Employment, Recruitment, & Placement Specialists	$33,475	40	Low	5	16	Bachelor's or higher degree
Payroll & Timekeeping Clerks	$33,322	130	High	100	171	Short-term on-the-job training
General Maintenance & Repair Workers	$32,042	460	Medium	270	481	Associate degree
Medical Recs. & Health Info. Technicians	$30,239	130	High	40	142	Associate degree
Human Resources Assistants	$30,147	120	High	70	136	Short-term on-the-job training
Customer Service Representatives	$27,215	670	Medium	240	572	Moderate on-the-job training
Bill & Account Collectors	$26,931	110	Medium	50	104	Short-term on-the-job training
Shipping, Receiving, & Traffic Clerks	$26,102	330	Medium	190	319	Short-term on-the-job training
Janitors & Cleaners	$22,541	1,430	Medium	790	1,269	Short-term on-the-job training
Stock Clerks & Order Fillers	$18,172	960	Low	1,000	1,000	Short-term on-the-job training
Source: Minnesota Dept. of Employment & Economic Development 2007 Median Annual Salary Data from the 2nd Qtr. 2007 Minnesota Salary Survey Current Demand Data from the 2nd Qtr. 2007 Minnesota Job Vacancy Survey Projected Employment Data from the 2004-2014 Minnesota Employment Projections Program

Feedback: Nathan.Dorr@state.mn.us