Sr. Underwriter

Company: Berkley
Location: Schaumburg
Posted on: May 8, 2022

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