Pay rates in the Australian and NZ risk insurance industries remain generally flat despite a shortage of talent in some key areas.

The 2010 Hays Salary Guide found the level of employment within the industry has remained relatively unaffected by the global financial crisis, with commercial and life underwriters, loss adjusters and account executives still in high demand.

“These areas remain extremely candidate-short,” the Hays guide says.

Despite this, salaries remain largely unchanged from last year. Hays says job security has assumed a higher priority among workers.

A broking account executive in Sydney can still expect a pay package of around $70,000, compared to $65,000 for their counterpart in Melbourne.

Claims team leaders in Brisbane and the Gold Coast earn around $60,000, a similar amount to that earned by their Auckland counterparts on $NZ75,000 ($60,732).

Sydney-based senior underwriters command a largely unchanged $85,000 package, compared to $83,000 in Perth.

A BDM working in Adelaide can still expect $90,000, compared to $80,000 in Hobart.

Hays Insurance Senior Regional Director Jane McNeill says stagnant wages may change as the skill shortages become more pronounced, with higher recruitment levels already prevalent.

“Salaries will start to creep up over the next 12 months as the war for talent returns,” she said.

The survey found 48% of financial services employers expect to increase salaries between 3-6% in their next review, while 45% plan to increase staff levels this year, against 21% last year.