Excess Casualty Underwriter
National Commercial Insurance Company
Locations – Chicago, IL, Scottsdale, AZ or Jersey City, NJ
Hybrid – Full Time
Salary Range – $95,000 – $200,000 DOE
COMPANY
National Commercial Insurance Company (A Rated) providing both admitted and non-admitted insurance products in the United States.
POSITION SUMMARY
The Excess Casualty Underwriter is responsible for developing, managing, and maintaining a profitable book of excess casualty business on behalf of the Company. This experienced underwriter is expected to develop strong relationships with wholesale producers (i.e., agents and brokers) that will result in favorable submission flows. You will evaluate submissions for new and renewal business, prioritize them and prepare quotes for those acceptable submissions falling within your Letter of Authority and the Company’s underwriting guidelines.
The Excess Casualty Underwriter should employ the Company’s advanced underwriting tools to support the underwriting and quoting process, including its rating matrices, predictive analytics, crime and credit scores and other third-party data to facilitate risk selection, evaluation, quoting and binding process, using approved forms.
RESPONSIBILITIES
Experience, skills and responsibilities for this position include the following:
New Business
- Meeting and working with producers in assigned territories to ensure high-quality submission opportunities are presented to the Company for quoting.
- Identifying and selecting suitable submissions for quoting, with assistance from the Company submission prioritization tools that employ predictive analytics, loss history and third-party data to score each submission.
- Evaluating appropriate pricing and coverage terms, with assistance from the Company rating tools and following underwriting guidelines for appetite and coverage terms as respects the class of business considered.
- Maintaining excellent communication with producers to keep them informed about the Company’s product line offerings.
- Promoting the Company brand.
- Assisting the Company marketing efforts by providing feedback pertinent to the product line with respect to competitors, products, and the overall marketplace.
- Providing or seeking referral counsel with other underwriters, the unit head and/or Corporate Underwriting, to discuss individual risk acceptance or declination, pricing, and terms, when appropriate under the circumstances.
- Monitoring the performance of new business underwritten.
- Performing other duties, including new underwriter training, and mentoring, as may be requested or appropriate.
Renewal Business
- Monitoring the performance of your business in force to determine what underwriting actions are most appropriate with respect to renewal, pricing, non-renewal or changes in coverage terms.
- Preparing renewal quotes sufficiently in advance of renewal dates to satisfy producer and retailer needs.
- Maintaining excellent communication with producers so they know what to expect at renewal, are then less likely to take actions to move the business and are given due notification whenever possible if non-renewal or changed terms are expected.
- Being familiar with regulatory and contractual considerations as regards contingent renewals or non-renewals to ensure compliance with the respective state regulations and consulting with the Company’s Compliance area, as needed.
- Providing or seeking referral counsel with other underwriters, the unit head and/or Corporate Underwriting, to discuss individual renewals or non-renewals, pricing and terms, when required or appropriate.
General Underwriting Responsibilities
- Exhibiting sound judgment and strong technical knowledge of underwriting principles, while applying the Company underwriting guidelines that apply to the risks being underwritten.
- Monitoring and meeting production, marketing and profitability goals for the your book.
- Keeping informed of industry, competitor and claim trends that may impact the relative and absolute attractiveness of risks being underwritten.
- Being or becoming a subject matter expert for certain classes of business that are within the Company’s underwriting appetite.
- Regularly traveling to meet with assigned producers to build and maintain strong relationships and ensure their awareness of the Company’s product offerings and appetite.
- Collaborating and assisting other team members on underwriting and marketing matters.
- Training, coaching and mentoring less experienced underwriters and support staff.
REQUIREMENTS / QUALIFICATIONS
- Knowledge of both commercial primary and excess casualty lines business, classifications, pricing and coverage options with adherence to applicable statutory compliance requirements and corporate guidelines.
- Ability to manage the excess portfolio with appropriate overall limits, attachment points and diversification.
- General knowledge of the wholesale producer distribution system.
- Demonstrated ability to analyze data and make well informed, calculated risk decisions.
- Strong problem solving, reasoning, and decision-making skills that aid in providing solutions for producers and insureds, while protecting the Company’s economic interests.
- Excellent written and oral communication skills.
- Excellent analytical and organizational skills, with excellent attention to detail.
- Ability to plan, organize, prioritize and manage multiple tasks while meeting deadlines.
- Proven team player, with an energetic personality and strong interpersonal skills.
- Strong computer skills and an ability to learn to work with proprietary systems.
EDUCATION
- Minimum of four years of commercial excess casualty underwriting experience, combined with sound knowledge of excess casualty underwriting coverages.
- College degree preferred, with coursework in Risk Management/Insurance a plus.
- CPCU or other relevant insurance-related designations a plus.
COMPENSATION / EMPLOYEE BENEFITS
The Company offers competitive compensation and benefits, including medical, dental, vision, 401(k), flexible spending, short-term and long-term disability insurance, life insurance, long-term care, paid parental leave, vacation and other paid time off.
CONTACT
George Lonas, President
The Regent Group
716.404.3337
glonas@theregentgroup.com