Senior Underwriter - Management Liability

Company Details

Berkley Select delivers professional liability insurance solutions to individuals, businesses, professional services firms, and nonprofit organizations. As a Berkley company, Berkley Select is staffed with a team of experts with a specific focus on Professional Liability. Berkley Select utilizes individual risk underwriting, loss control, and claims practices providing superior products and services to its customers.

Berkley Select is a Berkley Company. W. R. Berkley, founded in 1967, is one of the nation’s premier commercial lines property casualty insurance providers. W. R. Berkley Corporation (NYSE: WRB).

Responsibilities

The Senior Underwriter will evaluate (selection and pricing) and maintain (control) risk acceptability and profitability within the company’s underwriting guidelines and procedures for Professional Liability with a focus on Management Liability.

This individual will maintain and develop good wholesale and brokerage relationships and/or program relationships when necessary, and critically analyze risk characteristics to reach sound underwriting decisions while meeting and maintaining the production, profitability, and service standards established for the company.

• Work to achieve company goals to advance profitable written premium growth.
• Adhere to underwriting authority level and guidelines in place.
• Gather underwriting information to properly evaluate commercial risks for acceptability within company guidelines. Underwrite to acceptable profitability metrics
• Meet/Exceed production, profitability, retention and service targets.
• Ability to research and solve more complicated problems and make decisions.
• Understand rate development and ability to price underwriting exposures correctly.
• Determine final coverage and pricing for professional liability risks. Recommend policy form enhancements and endorsements to advance the business.
• Knowledge of competitor form and coverages.
• Work in both a collaborative team environment but also be able to work independently.
• Review claims and loss information on individual risks. Use this information to identify and re-evaluate accounts and develop a strategy for dealing with exposures and frequency issues.
• As a team with the Manager, manage the portfolio profitability and identify favorable and unfavorable classes of business.
• Adhere to pricing metrics for sustained book performance and favorable loss history.
• Maintain quality and performance standards as established, such as turnaround and response time.
• Be informed/knowledgeable of industry issues and activities through formal educational processes to develop underwriting skills. PLUS membership or involvement is preferred.
• Identify and cultivate brokers with new business opportunities and build renewal relationships.
• Regular and predictable attendance at meetings with willingness to occasionally travel.
• Assist with training and educating junior level employees.

Qualifications

• Four (4) year college degree or equivalent proven product line experience. Insurance designations, such as an RPLU, are a plus.
• Must be able to conceptualize and analyze financials at a college level, as required by product line.
• Must be able to analyze professional liability risk characteristics.
• Good written and oral communications skills, including the ability to compose various types of business correspondence.
• Knowledge of E&O underwriting coverages and policy form terms and conditions. – Must have prior experience
• Must be able to manage multiple priorities, have good analytical skills and the ability to exercise independent judgment.
• Must be customer service oriented; a team player; willing to learn; organized; detail oriented and flexible.
• Focus on building broker relationships and proven development of those relationships.
• Working knowledge of PC’s and other software programs (including Microsoft Word and Excel).
• Knowledge of Accountants Professional Liability a plus.
• Knowledge of P.L. programs a plus.

Additional Company Details

The position is based in Chicago; in-office four days per week. We do not accept any unsolicited resumes from external recruiting firms. The company offers a competitive compensation plan and robust benefits package for full time regular employees which for this role includes: Base Salary Range: $115,000 - 125,000. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. This role is eligible to participate in the annual discretionary bonus program. Benefits: Health, Dental, Vision, Life, Disability, Wellness, Paid Time Off, 401(k) and Profit-Sharing plans.

Sponsorship Details

Sponsorship not Offered for this Role