This individual will be responsible for producing and underwriting a profitable book of Surplus Lines Umbrella and Excess business. This position has an important impact on results and is vital to success of the XL Excess & Surplus Lines Unit.
Based upon company underwriting guidelines established and underwriting authority granted, the individual will review submissions including applications, inspection reports, loss runs, and financial reports and will conduct appropriate research to determine degree of risk for each account
Determines whether to quote or decline risks and establishes types and limits of coverage along with the appropriate terms and conditions to be provided within prescribed authority levels.
Determines if reinsurance is needed on a policy and place reinsurance per underwriting authority granted.
Calculates rates and premium charges by using approved rating models.
Has the ability to work within both an admitted and non-admitted company environment. In the admitted environment, reviews state laws and filing requirements within their assigned territory to properly transact business within a state.
Develops and modifies policy wording in accordance with delegated underwriting authority when standard forms is not appropriate.
Consults with insurance brokers and/or accesses other resources to obtain further information, quote rates, or explain company underwriting guidelines.
Manage an assigned underwriting territory. Responsible for production, profitability and relationship with brokers in that territory, including travel to and entertainment of brokers.
Assists lower level underwriters with risk analysis and authorization.
Train lower level underwriters in various underwriting responsibilities.
Cross Sell with other XL business units and underwriters
Other duties as may be assigned.
This individual will report to the Surplus Lines Vice President -Umbrella and Excess. Expected to work independently in a responsible way with little to no supervision.
A minimum of seven years of casualty insurance experience including a minimum of 5 years Umbrella experience is required. A broad knowledge if casualty lines of business including GL, AL WC, Umbrella is necessary. Experience with reinsurance is preferred. The preferred candidate and will have an Excess and Surplus Lines background and will have worked with Wholesale Brokers for at least two years.
The candidate should also posses strong analytical and problem solving skills. The ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form and the ability to deal with problems involving several concrete variables in standardized situations are important.
This individual must have a proven track record and demonstrated record of results delivered.
Excellent oral and written communications skills including the ability to speak effectively before groups of brokers or employees of the company are required.
Knowledge and use of computer programs/systems, including Microsoft Outlook, Word, and Excel is mandatory.
Bachelor's degree from four-year college or university is strongly preferred.
CPCU and/or ALSI preferred.
The successful candidate for this position is likely to have a minimum of 7 years of experience.
State or Province