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Berkley Select (a Berkley Company) · 2 weeks ago

Underwriter II

Chicago, IL

Full-time

Hybrid

Mid Level

$90K/yr - $100K/yr

Berkley Select is a professional liability insurance provider that focuses on delivering tailored insurance solutions. The Underwriter II role involves evaluating and maintaining risk acceptability and profitability while developing relationships with brokers and managing underwriting decisions for professional liability risks.

Financial ServicesInsuranceNon ProfitProfessional Services

No H1B

Responsibilities

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

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

Regular and predictable attendance

Other duties and special projects as assigned

Qualification

Professional Liability UnderwritingRisk AnalysisFinancial AnalysisInsurance DesignationsBroker Relationship ManagementAnalytical SkillsCustomer Service OrientationMicrosoft WordMicrosoft ExcelWritten CommunicationOral CommunicationTeam PlayerDetail Oriented

Required

Four (4) year College Degree or equivalent proven product line experience

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)

Preferred

Insurance designations, such as an RPLU, are a plus

Knowledge of Accountants Professional Liability a plus

Knowledge of P.L. programs a plus

Be informed/knowledgeable of industry issues and activities through formal educational processes to develop underwriting skills. PLUS membership or involvement is preferred

Benefits

Health

Dental

Vision

Life

Disability

Wellness

Paid Time Off

401(k)

Profit-Sharing plans

Company

Berkley Select (a Berkley Company)

Berkley Select is a leading provider of professional liability insurance products across a full spectrum of disciplines and industries, for clients of virtually every size and level of complexity.

Founded in 1992