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Michael A. Isaac
Project Manager - Member Development
Telephone: 317.875.5250 x1056
misaac@namic.org

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COMPENSATION SURVEY

We are pleased to announce that the 2016 Property/Casualty Compensation Survey RESULTS ARE IN, with more than 130 companies participating.

For a third year, NAMIC has partnered with Ward Group, a part of Aon Hewitt, to conduct the Property/Casualty Compensation Survey. Ward Group, a business unit of Aon plc, is the leading provider of benchmarking services for property/casualty insurance companies.

Purpose
The ability to understand your competitive pay market is key to ensuring that your company’s pay is aligned with performance. With the Ward Group’s survey, participants can leverage pay data covering more than 1,500 roles ranging from executive positions down to entry-level support roles, with data broken out by geographic region, company size, and company type (mutual versus non-mutual). Results can be combined with the company's operational and financial benchmarks to help companies assess their pay levels; understand compensation relative to performance; and develop competitive compensation plans. Participants can also compare their compensation practices against customized benchmark groups, including top industry performers.

Background and Timeline
Survey coverage includes competitive benchmark compensation data for property/casualty insurance positions as well as infrastructure positions that support the insurance business. Pay data elements include:

  • Prior year and current year base salary

  • Target and actual annual cash incentive

  • Target and actual total cash

  • Long-term/deferred awards

  • Total compensation

NEW positions added in 2016:

  • Chief Diversity Officer

  • Diversity Staff as part of the HR function

Survey Timeline

  • March 10 – Data Collection Materials Distributed

  • Early May – Target Timeline for Submissions Returned to Ward Group

  • August 31 – Distribute Survey Results

Reports

If you would like to enter your data and purchase the 2016 customized survey results contact Ward Group.

Pricing

Survey Participant

  • NAMIC Members (Premium greater than $50M): $1,575

  • NAMIC Members (Premium up to $50M): $850

  • Non-NAMIC Member Participation Fee: $1,900

Survey Non-Participant committing to 2017 survey (NAMIC Members Only)

  • NAMIC Members, Premium greater than $50M: $2,400 now*, additional $750 in 2017

  • NAMIC Members, Premium up to $50M: $1,275 now*, additional $425 in 2017

  • *Includes the purchase of the 2016 results + half down payment for 2017 survey commitment and results purchase

Survey Non-Participant NOT committing to 2017 survey (NAMIC Members Only)

  • 2016 results: $2,650

Questions?
For specific questions relating to the survey, please contact Kaitlyn Isley with Ward Group at (203) 602-1202 or kaitlyn.isley@mclagan.com. For general survey questions, please contact NAMIC at compensationsurvey@namic.org or call (317) 875-5250.


411 Webinar - 2016 NAMIC P/C Insurance Compensation Survey Results Review and Trends Webinar | September 13, 2016 | 2:00 p.m. EDT | Access Recording
If you would like to access the September 13 recording of the 411 webinar that explains the survey results, please click here.

Posted: Monday, March 02, 2015 1:04:38 PM. Modified: Wednesday, September 14, 2016 11:25:04 AM.

317.875.5250 - Indianapolis  |  202.628.1558 - Washington, D.C.

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