Acadia Insurance (a Berkley Company) · 3 months ago
Underwriter II
US-IL-Chicago
Full-time
Hybrid
Mid Level
$90K/yr - $100K/yrAcadia Insurance, a Berkley Company, specializes in professional liability insurance solutions. The Underwriter II will evaluate and maintain risk acceptability and profitability for professional liability, focusing on Lawyer Professional Liability, while managing relationships with brokers and ensuring adherence to underwriting guidelines.
Commercial InsuranceInsurance
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 Lawyer Professional Liability
Manage, maintain and develop good wholesale and brokerage relationships and/or program relationships when necessary
Critically analyze risk characteristics to reach sound underwriting decisions
Meet and maintain 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
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
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
PLUS membership or involvement is preferred
Knowledge of Accountants Professional Liability a plus
Knowledge of P.L. programs a plus
Benefits
Health
Dental
Vision
Life
Disability
Wellness
Paid Time Off
401(k)
Profit-Sharing plans
Company
Acadia Insurance (a Berkley Company)
Acadia Insurance specializes in commercial property casualty insurance. Our company began in 1992 insuring businesses in Maine.
Founded in 1992
201-500 employees
Funding
Current Stage
Growth StageLeadership Team
Simone Grimes, CPA, MBA
Chief Financial Officer
Steve Rich, CPCU
Senior Vice President & Chief Claims Officer
Recent News
2024-03-06
Coverager - Insurance news and insights
2022-06-28
Company data provided by crunchbase