PCI Survey Projects Insurance Industry Salary Increase Budgets to Rise Slightly in 2011

CHICAGO, Sept. 13 -- The Property Casualty Insurers Association of America issued the following news release:

The Property Casualty Insurers Association of America's (PCI) annual Insurance Compensation Survey shows that property casualty insurance companies are projecting average salary budget increases of 3.1 percent in 2011, which is slightly higher than the 2.8 percent increase reported in 2010.

"Even in these tough economic times, salary budgets within the property casualty insurance industry appear to be holding steady," said Elysa Robin, director of human resources for PCI. "While we saw a slight dip in 2010, salary budget increases in 2011 may rebound to the percentages available in 2009. This is good news and shows the strength and stability of the property casualty insurance sector."

The PCI Insurance Compensation Survey includes information for over 60 benchmark jobs in the property casualty insurance industry. This year 157 companies participated in the survey which provides a wealth of current information about industry compensation practices.

The complete results of the survey can be purchased for $2,095 (PCI members can purchase the results for $750). To purchase a copy of the survey, please contact Swapna Thomas at [email protected].

PCI is composed of more than 1,000 member companies, representing the broadest cross-section of insurers of any national trade association. PCI members write over $180 billion in annual premium, 37.4 percent of the nation's property casualty insurance. Member companies write 44 percent of the U.S. automobile insurance market, 30.7 percent of the homeowners market, 35.1 percent of the commercial property and liability market, and 41.7 percent of the private workers compensation market.

TNS cp-JF78-100914-3000959 StaffFurigay