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Munich Re · 1 day ago

MRSGM NA Underwriter, Cyber

Schaumburg, IL

Full-time

Hybrid

Mid Level

$75K/yr - $110K/yr

3+ years exp

Munich Re Specialty Global Markets North America is seeking an Underwriter for Cyber & Tech to join their team in Schaumburg, IL. This role involves underwriting a book of Tech E&O and Cyber insurance products, managing renewal business, and developing new broker relationships while staying informed about cybersecurity trends and regulations.

FinanceInsuranceInsurTechRisk Management

Comp. & Benefits

No H1B

Hiring Manager

Megan Harrington

Responsibilities

Underwriting a book of Tech E&O, Cyber and related products in the US that include Technology Errors & Omissions and Stand-alone Cyber

Responsible for managing an existing renewal book of business and developing new business production and broker relationships

Maintaining a broad network of brokerage and client relationships

Determining terms, conditions and complex rating plans

Collaborate with team members to discuss a strategy on more complex risks

Participate in industry events and networking opportunities to build relationships and enhance knowledge of the cyber insurance market

Documenting underwriting files

Servicing accounts throughout the policy cycle

In conjunction with Munich Re syndicate and actuarial resources, support current and future development of rating platforms

Interacting closely with 3rd party providers for the service delivery and security monitoring and/or tools to ensure assets are being protected for our customers

Analyze applications for cyber insurance coverage, evaluating the risk exposure of potential clients

Conduct thorough risk assessments and audits to determine the eligibility and terms of coverage for cyber insurance policies

Collaborate with brokers and agents to gather necessary information and clarify underwriting requirements

Stay informed about the latest trends, threats, and regulatory changes in the cybersecurity landscape to make informed underwriting decisions

Monitor and analyze claims data to identify trends and refine underwriting criteria accordingly

Qualification

Tech E&O knowledgeCyber risk assessmentCybersecurity best practicesRegulatory knowledgeTechnical underwritingEntrepreneurial thinkingInterpersonal communicationNegotiation skills

Required

Minimum of 3 years of professional lines/specialty insurance/risk management knowledge, ideally with a strong familiarity with Tech E&O, and cyber risks

Bachelor's degree required

A strong understanding of best practices in Cyber security – including, layered security architecture; internet protocols; firewalls; VPN technologies, anti-virus and spam technologies; risk and vulnerability assessments, compliance

Experience with threat awareness and detection tools & techniques, and incident response plans

Knowledge and understanding of relevant legal, regulatory and privacy requirements, such as Personally Identifiable Information (PII) Protection and Payment Card Industry (PCI)/Data Security Standard

Proven track record as a technical underwriter or broker

Demonstrate high level of technical expertise and product specific (Tech E&O) knowledge

Innovative thinker offering creative product ideas

Strong interpersonal communication and negotiation skills

Ability to effectively interact with all levels of internal and external business partners

Strong track record of working with brokers and clients, fostering strong relationships, and developing new distribution channels

Entrepreneurial thinking

Ability to travel