Posted on 12 Oct 2009
Despite these tough economic times, salary budgets within the property casualty insurance industry appear to be holding steady according to the Property Casualty Insurers Association of America (PCI) Insurance Compensation Survey.
The survey shows that property casualty insurance companies are projecting average salary budget increases of 3.4 percent in 2010, which is the same percent increase reported in 2009. This compares to average salary budget increases of 4.0 percent in 2008.
The PCI insurance compensation survey includes information for over 60 benchmark jobs in the property casualty insurance industry. This year 160 companies participated in the survey which provides a wealth of current information about industry compensation practices.
A new element of this year’s survey includes a section on the economic conditions for the positions surveyed. This 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.
To purchase a copy of the survey, please contact Swapna Thomas at firstname.lastname@example.org.