PROPERTY & CASUALTY INSURANCE COMPENSATION SURVEY
New this year, NAMIC is partnered with Ward Group, the leading provider of benchmarking services for Property & Casualty companies, to conduct the survey and analyze the results, thus allowing us to combine our two past surveys into one survey encompassing both salary and executive compensation areas. The survey results have been distributed, please let us know if you need a copy of your results.
The ability to understand your competitive pay market is key to ensuring that your firm’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, firm size, and firm type (mutual versus non-mutual). Results can be combined with the firm'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.
ABOUT THE SURVEY:
Survey coverage includes competitive benchmark compensation data for property/casualty 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
March 13 – Data Collection Materials Distributed
May 8 – Data Collection Due
End of August – The survey results have been distributed, please let us know if you need a copy of your results.
NAMIC Members (Premium greater than $50M) - $1,500
NAMIC Members (Premium up to $50M) - $800
Non-NAMIC Member Participation Fee - $1,750
For an explanation of the survey documents, NAMIC members are invited to access the video recording and presentation of the 411 informational webinar that was offered in March. The digital webinar archives may be found here: http://www.namic.org/seminars/411web.asp#archives
Download Survey Documents
Directors Compensation Survey
NAMIC conducts an annual survey of director compensation practices of property/casualty companies. Membership in NAMIC is not required to participate. The survey covers board composition, time commitment, fees, expense reimbursement and other forms of direct or indirect compensation. The survey report is presented in Adobe pdf format and is segmented by US DWP/NWP in the following bands: under $1M, $1-5M, $5-20M, $20-100M, $100-500M and $550+M. You may order a copy of the 2013 survey report online. Check and credit card payment is accepted. If you have questions about the Directors’ Compensation Survey contact Susan Morgan at email@example.com or by calling (317) 875-5250, ext. 1057.
We are anticipating a launch of the next NAMIC Directors’ Compensation Survey in early 2015.
NAMIC Member, Survey Participant - $99
Nonmember, Survey Participant - $249
NAMIC Member - Nonparticipant$199
Nonmember - Nonparticipant$499
NAMIC’s 2013 Executive Compensation Study
In 2012 and 2013 NAMIC partnered with Total Compensation Solutions to conduct the survey and analyze the results. The study examines the top positions in a company, reviewing various aspects of executive compensation including long-term incentive plans, perquisites, benefits, bonus structures and incentives, paid time off, and supplemental retirement benefits. We have added four new positions to the survey and expanded questions in the general information category on topics such as turnover, salary budgets, and work-life balance. Customized reports comparing a participating company to all participants were provided as well as the opportunity to discuss results with TCS and peer comparisons with Jacobson Group, NAMIC’s corporate sponsor of the study.
Non-participating companies can purchase a non-customized study by clicking on the PURCHASE NOW button below. To check if your company participated and purchased the report to gain access, email firstname.lastname@example.org or call (317) 875-5250, ext. 1057.
Member, participant - $500
Member, non-participant - $1,500
Non-member - $10,000
Call 1-800-336-2642 or e-mail email@example.com.
Posted: Wednesday, July 02, 2003 12:00:00 AM.
Modified: Friday, October 24, 2014 9:14:04 AM.