PCI Insurance Industry Salary Survey Sees Flat Growth For 2010

NU Online News Service, Oct. 12, 3:19 p.m. EDT

Salary budgets within the property and casualty insurance industry appear to be holding steady, with increases of 3.4 percent expected for next year, according to a survey.

The Property Casualty Insurers Association of America (PCI) Insurance Compensation Survey found companies are projecting average 2010 salary budget increases of 3.4 percent--the same percent increase reported in 2009. This compares to average salary budget increases of 4 percent in 2008.

The PCI insurance compensation survey includes information for over 60 benchmark jobs in the property and casualty insurance industry.

PCI said 160 companies participated in the survey which provides current information about industry compensation practices.

This year's survey, PCI said, contains a new section on the economic conditions for the positions surveyed.

The organization said the section is important because it addresses how organizations have been affected by the current economic climate and what they plan to do in the future to adjust to the changing conditions.

Also new this year is information about the timing of salary increases. The survey contains a strong matched sample comparison which helps prevent the data from being overly influenced by fluctuation of participants from year to year.

Copies of the survey can be purchased by contacting Swapna Thomas at swapna.thomas@pciaa.net.

PCI is composed of more than 1,000 member companies, who write over $180 billion in annual premium, 37.4 percent of the nation's property and casualty insurance.

Top Story

Ferguson protests spread nationwide

Ferguson, Mo. isn't the only place where people are protesting the grand jury decision not to indict police officer Darren Wilson in the shooting death of Michael Brown.

Top Story

Ferguson burning: 9 scenes of property damage in the wake of the riots

A grand jury in Ferguson, Missouri on Monday declined to indict a local police officer in the August 2014 shooting death of 18-year-old Michael Brown, setting off a night of violent riots in the suburban St. Louis community. Here's the aftermath.

More Resources


eNewsletter Sign Up

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.