Sr. Underwriter
Company: Berkley
Location: Schaumburg
Posted on: May 8, 2022
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Job Description:
Company Details:
Berkley Professional was founded in October 2008 as an operating
unit ofW. R. Berkley Corporation, one of the nations premier
commercial property casualty insurance providers, by a team of
management liability professionals with a combined total of over
fifty years of experience in insurance and financial services.
Backed by superior financial strength, Berkley Professional brings
fresh capacity, underwriting acumen, claims handling expertise, and
extensive relationships with insureds and brokers to the management
liability marketplace.Since then, Berkley Professional has enjoyed
calculated and consistent growth, while exceeding the needs of our
business partners. We provide customized coverage solutions with
fairness, responsibility and superior claims servicing. Berkley
Professional continues to expand its product capabilities as well
as geographic reach in order to better serve the dynamic management
liability environment. This growth includes the addition of a
dedicated Financial Institutions team as well as an experienced
group of Transactional Liability underwriters furthering Berkley
Professionals capabilities.
Responsibilities:
The Commercial Management Liability Underwriteranalyzes and
underwrites existing and prospective public company accounts
seeking Directors and Officers, Employment Practices, and Fiduciary
Liability insurance coverage. S/he develops relationships with key
brokers to increase the submission flow and quality of new business
prospects.Duties and responsibilities include but are not limited
to:Prepare thorough underwriting work-ups that contain a detailed
financial analysis, claims/legal history, and a review of
significant recent corporate events for each new business and
renewal account.Communicate with brokers during the renewal process
to ascertain the clients renewal expectations and on new business
accounts to find the best opportunity for successfully winning the
business.Participate in client meetings designed to address each
accounts risk factors and mitigation approach.Work with senior
managers to review and price new/renewal accounts and draft all
quote/binder letters and issue the policy.Responsible for
maintaining the underwriting files on all in-force and
lost/declined accounts.
Qualifications:
BA/BS degree in a related course of study strongly preferredMinimum
of 2 years of professional experience ideally, but not necessarily
in the insurance industry. Experience in accounting or financial
planning and services highly desirableOrganization ability to
maintain thorough and orderly underwriting files that present an
accurate representation of a deal that has been bound or a
lost/declined opportunity that follows the internal underwriting
guidelines and state specific requirements.Financial literacy able
to analyze income statements, balance sheets, cash flow statements
in order to identify risk factors.Communication skills oral and
written communication skills necessary to present account synopsis
to senior managers for pricing consideration. Ability to interact
with senior managers (CEO, CFO, GC, Treasurer) of existing or
potential insureds during underwriting client meetings. Ability to
explain underwriting positions to key brokers on a specific insured
or in general to generate submissions.Technical skills able to
quickly become fluent in policy terms/conditions and how changes to
the basic terms/conditions can change the assumed risk.Strong
technical and marketing expertiseInsurance industry knowledge very
helpfulComputer proficiency
Additional Company Details:
The Company is an equal employment opportunity employer.
Additional Requirements:
COVID-19 vaccine required unless prohibited by law.
Keywords: Berkley, Schaumburg , Sr. Underwriter, Other , Schaumburg, Illinois
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