Under limited direction, assesses a company’s risk profile and determines/negotiates the appropriate pricing, coverage, terms and conditions by analyzing a company’s financial documents and other information. Achieves production and loss ratio goals within assigned territory by reviewing and analyzing claims, loss history and taking appropriate action on individual accounts. Establishes and maintains effective relationships with brokers in order to generate premium dollars and profitably. Territory assignments are complex in nature concerning coverage, profitability and broker relationships. Responsible for the training and mentoring of lower level underwriters. Will be the main point of contact for brokers in that specific assigned territory.
- Determines proper insurance program including layer attachment, terms, conditions, pricing and alternatively decline or non-renewal of coverage.
- Achieves aggressive production and loss ratio goals by analyzing complex premium and loss results for assigned territory by line of business through sound marketing. Promotes company products and programs.
- Establishes and maintains effective relationships with brokers in order to generate profitable premium dollars. Accompanies other underwriters to broker offices as required for marketing visits. Frequently entertains brokers to market services and ensure strong relationship to write business.
- Monitors industry trends to stay well-informed of new products, distribution systems, trends and competitor offerings.
- Participate in underwriting meetings with brokers, clients and other underwriters.
- Within established guidelines, analyze and review application, complex financial documents, company management, company prospects, industry prospects, legal structure and outstanding litigation.
- Servicing of existing and/or new accounts, including quote letter, binders, policy & endorsement issuance.
- Knowledge of D&O/EPL/Fiduciary/E+O/Crime insurance products.
- Knowledge of financial statements, financial analysis, investments, market conditions essential.
- Legal knowledge related to insurance, contract and business law preferred.
- Ability to communicate complex underwriting concepts required.
- Ability to multi-task, communicate effectively, verbally, and in writing, interpersonally with individuals at various levels and groups via telephone, fax, e-mail and in person.
- Demonstrates advanced negotiation skills.
- Ability to analyze insurance risks to determine acceptability including policy language, various commercial rating plans and methodologies, reinsurance.
- Knowledge of related computer software.
- Ability to devise business solutions to problems, implements the most appropriate, and monitor its effectiveness.
- Ability to make decisions with minimal direct supervision.
- Three or more years related experience as a D&O, EPL and/or E&O Underwriter preferred.
- Previous business or finance experience helpful.
- Undergraduate studies with focus in finance, accounting, economics, and/or risk management.
- Degree preferred.
- Other criteria, including leadership skills, competencies and experiences may take precedence.
- Staffing exceptions to the above must be approved by the hiring manager’s leader and HR Business Partner.
Vacancy Type: Full Time
Job Location: Flanders, NJ
Application Deadline: N/A