Pennsylvania Lumbermens Mutual Insurance Company · 3 days ago
Commercial Lines Senior Underwriter IA/MN/WI/SD/ND
United States
Full-time
Remote
Mid, Senior Level
$80K/yr - $105K/yr
6+ years expPennsylvania Lumbermens Mutual Insurance Company is seeking a Commercial Lines Senior Underwriter to work in tandem with Field Representatives to produce and retain profitable underwriting accounts. The role involves evaluating applications, coordinating pricing, and making renewal decisions while ensuring compliance with underwriting guidelines.
FinanceFinancial ServicesInsurance
Responsibilities
Review applications for class acceptability, completeness (request additional info, if appropriate), and risk acceptability
Evaluate classification for accuracy
Review Dunn & Bradstreet Reports or financial statement as appropriate to ensure client liquidity
Coordinate pricing with the broker and Field Representative by determining expiring price as well as target price and who competition is. Obtain commitment from broker regarding account placement if we meet the target price
Develop any additional underwriting information necessary to determine risk acceptability and if appropriate, have a tentative quotation developed. It is acceptable to quote “subject to …”. Additional information might include more detailed loss information, a Technical Services report, financial information, MVRs, etc
Run location specific CAT model using JLT’s CATography software
Secure Reinsurance quote, if needed
Coordinate quotation’s release with the Field Representative
Establish a diary on the quotation for follow up with broker to ascertain initial acceptability, re-diary for follow up prior to effective date to ascertain our success and, if appropriate, consider last minute revisions
Refer risks exceeding underwriting authority with a recommended handling action to the Underwriting Manager
Process all quotations by broker’s “need by” date
Review file for completeness of underwriting information and, if necessary, coordinate/obtain any missing or incomplete information
Contact broker and implement the renewal retention program as outlined under separate cover
Complete a loss analysis
Evaluate most recent Technical Service information; if necessary obtain updated or new report. Confirm status of recommendations that are outstanding (or may be)
Make renewal decision, i.e. renew (and, if so, at what price) or non-renew. Do not assume that because the risk is on the books it is a good risk. Underwrite it!
Confirm that renewal pricing will support past loss experience. Consider the frequency/severity issues. Consider whether changes in coverage are appropriate for renewal, i.e. increase deductibles, elimination of certain coverages, etc
Confirm policy construction issues
Involve Underwriting Manager as appropriate
Process all renewals at least 30 days prior to effective date unless the broker or insured delays processing by withholding information
Review requests for completeness of information
Evaluate request for acceptability
Consider any pricing issues
Process all endorsement requests within 10 days of receipt
Verify drivers' list is complete including full names, dates of birth, drivers’ license numbers and, states of licensing. Underwrite this information in light of the risk you are reviewing
Order MVRs. Re-underwrite driver information once the MVRs are available
Ensure compliance with Fair Credit Reporting Act
Develop detailed loss information by reviewing hard copy from prior carriers. It is appropriate to quote subject to satisfactory loss information after binding. In this case, loss info could be based on broker’s memo or a memo from the insured outlining information. Underwrite this information. Follow up for hard copy post binding. Confirming it supports pricing. Consider closely frequency/severity trends, consider appropriate controls
Ensure that appropriate forms are included on all contracts
Review and handle mail within 72 hours of receipt
Respond to all telephone calls on the same day as received. If you make a commitment to handle something by a certain date and you are unsuccessful in doing so, advise customer of failure to do so and reason as well as new target date
Qualification
Required
Bachelor's degree in Risk Management and Insurance; or equivalent relevant experience
6 plus years demonstrated multi-line underwriting experience in a similar environment
Understanding of and ability to apply underwriting processes to potential and current risks
Demonstrated ability to analyze financial stability and determining a clients' liquidity
Detailed understanding and “current knowledge” of commercial coverages and policy forms
Good understanding of commercial rating techniques
Knowledge of reinsurance marketplace, both facultative and treaty
Good understanding of policy construction detail
Knowledge of CAT management tools and understanding of exposure, both at individual account and book level
Outstanding organizational skills resulting in the ability to handle a large workload
Strong communication skills (both oral and written)
Strong negotiation skills
Basic understanding of the insurance industry as a whole
Basic understanding of the sales process
Ability to work in a team environment
Ability to build and manage relationships with clients and fellow employees
Ability to identify and solve complex problems
Preferred
Professional designation of CPCU or equivalent (ARM, CIC, AU)
Commercial Lines Underwriting : 7 years
Property & Casualty Insurance: 7 years
Benefits
401(k)
401(k) 6% Match
401(k) matching
Dental insurance
Flexible schedule
Health insurance
Health savings account
Life insurance
Paid time off
Parental leave
Professional development assistance
Profit sharing
Retirement plan
Tuition reimbursement
Vision insurance
Company
Pennsylvania Lumbermens Mutual Insurance Company
Pennsylvania Lumbermens Mutual Insurance Company is a nationally recognized property and casualty insurance carrier serving the lumber, woodworking and building material industries.
51-200 employees
H1B Sponsorship
Pennsylvania Lumbermens Mutual Insurance Company has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
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Trends of Total Sponsorships
2024 (1)
Funding
Current Stage
Growth StageRecent News
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