Commercial brokers are the second most sought after workers for insurance employers in Australia as organisations struggle to secure skilled staff, recruiter Hays says. 

Property and casualty underwriters and commercial brokers are the top two insurance roles employers need to fill in Australia, an annual Hays survey found. Rounding out the top five are liability claims consultants, SME underwriters and workers’ compensation specialists.  

In New Zealand, broker support and brokers are top roles to fill, alongside claims consultants, loss adjusters and compliance specialists. 

The highest salaries in the insurance sector belong to heads of claims and chief underwriters in life insurance, with $200,000 a year typical, the latest Hays Salary Guide says. 

In insurance broking, account directors earn $155,000-210,000 in Sydney and Melbourne, and a little less in other capital cities and regional areas, dropping as low as $110,000 in parts of Queensland. 

Account managers can expect $80,000-140,000, depending where they live, while Hays says senior account executives at brokerages earn $70,000-120,000, account executives $55,000-110,000, and assistant account executives $50,000-70,000. 

Hays found 95% of insurers plan to lift salaries at the next pay review and insurance took seventh place for being the industry with the most extreme skills shortages in Australia. Defence occupied the number one spot. 

"With the skills shortage predicted to last well into the 2030s, employers must guard against the long-term impact,” Hays Asia Pacific CEO Matthew Dickason said.