PROPERTY & CASUALTY INSURANCE COMPENSATION SURVEY
New in 2014, NAMIC partnered with Ward Group, the leading provider of benchmarking services for Property & Casualty companies, to conduct the salary survey and analyze the results. The 2014 survey results were distributed in early September, please let us know if you need a copy of your customized 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
Survey Non-Participant, NAMIC MEMBERS ONLY
NAMIC Members, Premium greater than $50M - $2,250 now*, additional $750 in 2015
NAMIC Members, Premium up to $50M - $1,200 now*, additional $400 in 2015
NAMIC Members, not committing to participate in the 2015 study - $2,500
*Includes the purchase of the 2014 results + half down payment for 2015 survey commitment and results purchase
If you would like to purchase the 2014 study results and commit to participate in the 2015 survey, please contact Ward Group.
NAMIC Property & Casualty Insurance Compensation Survey Results Review and Trends Webinar | 2014 411 Webinar Series
For a review of the survey results and trends, NAMIC members are invited to join us for a 411 webinar on Thursday, November 6 at 12:30 pm (EST) that will cover compensation trends in the survey results for major functions, year-over-year analysis of how pay has changed and 2014 year-end business results and compensation projections. Please go to http://www.namic.org/seminars/calendarwa.asp, if you would like to sign up for the free webinar. The webinar will be recorded if you would like to review the content at a later time.
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
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 firstname.lastname@example.org or by calling (317) 875-5250, ext. 1057.
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.
Call 1-800-336-2642 or e-mail email@example.com.
Posted: Wednesday, July 02, 2003 12:00:00 AM. Modified: Tuesday, January 27, 2015 9:52:21 AM.
317.875.5250 - Indianapolis | 202.628.1558 - Washington, D.C.