Chief Underwriting Officer

Berkley•Minneapolis, MN

47d•Onsite

About The Position

Berkley Risk is a member company of W. R. Berkley Corporation, an A. M. Best A+ rated Fortune 500 holding company. Berkley is comprised of individual operating units that serve a defined insurance market segment. Berkley Risk is focused on providing self-insured entities program administration services and insurance operations which can include taking or sharing risk using Berkley paper. This capability allows us to customize both an insurance company option and a purely administrative option for our customers. We are seeking a highly experienced and strategic Chief Underwriter to lead our underwriting team for self-insured workers' compensation clients. The ideal candidate will have a deep understanding of workers' compensation insurance, pool management, and insurance operations. The candidate should also demonstrate strong analytical skills, and a proven track record in underwriting and risk assessment. Lead and mentor the underwriting team, ensuring high performance and professional development. Participate on the Sr. Management team and help develop the strategic direction for the company. Evaluate and assess the risk of self-insured workers' compensation clients, making informed decisions on coverage and pricing. Develop and implement underwriting policies and guidelines to ensure consistency and compliance with regulatory requirements. Build and maintain strong relationships with clients, brokers, and other stakeholders to understand their needs and provide tailored insurance solutions. Utilize data analytics to monitor trends, identify emerging risks, and adjust underwriting strategies accordingly. Ensure all underwriting activities comply with industry regulations and company policies. Prepare and present detailed reports on underwriting performance, risk exposure, and market trends to senior management. Drive innovation in underwriting practices, leveraging technology and new methodologies to enhance efficiency and accuracy. Oversee the management of business pools, ensuring optimal risk distribution and financial stability. Manage reinsurance programs, including negotiating terms, securing coverage, and maintaining relationships with reinsurers. Underwrite loss accounts, assessing risk and determining appropriate coverage and pricing strategies. Develop and manage guaranteed cost workers' compensation programs, ensuring competitive pricing and comprehensive coverage. Oversee multi-line underwriting processes, ensuring comprehensive risk assessment and coverage across various lines of business. Prepare information for/participate in quarterly earnings calls with WRBC. May perform other functions as assigned. This is an in office role based in Minneapolis, MN.

Requirements

Minimum of 10 years of experience in workers' compensation underwriting, with at least 5 years in a leadership role.
In-depth knowledge of self-insured workers' compensation programs and regulatory requirements.
Strong analytical and problem-solving skills.
Excellent communication and interpersonal skills.
Proven ability to lead and develop high-performing teams.
Proficiency in underwriting software and data analysis tools.
Bachelor's degree in Business, Finance, Insurance, or a related field.
Reside within commutable distance to Minneapolis, MN or willingness to relocate.
Travel: Occasional

Nice To Haves

Advanced degree or professional certifications (e.g., CPCU, ARM) preferred.

Responsibilities

Lead and mentor the underwriting team, ensuring high performance and professional development.
Participate on the Sr. Management team and help develop the strategic direction for the company.
Evaluate and assess the risk of self-insured workers' compensation clients, making informed decisions on coverage and pricing.
Develop and implement underwriting policies and guidelines to ensure consistency and compliance with regulatory requirements.
Build and maintain strong relationships with clients, brokers, and other stakeholders to understand their needs and provide tailored insurance solutions.
Utilize data analytics to monitor trends, identify emerging risks, and adjust underwriting strategies accordingly.
Ensure all underwriting activities comply with industry regulations and company policies.
Prepare and present detailed reports on underwriting performance, risk exposure, and market trends to senior management.
Drive innovation in underwriting practices, leveraging technology and new methodologies to enhance efficiency and accuracy.
Oversee the management of business pools, ensuring optimal risk distribution and financial stability.
Manage reinsurance programs, including negotiating terms, securing coverage, and maintaining relationships with reinsurers.
Underwrite loss accounts, assessing risk and determining appropriate coverage and pricing strategies.
Develop and manage guaranteed cost workers' compensation programs, ensuring competitive pricing and comprehensive coverage.
Oversee multi-line underwriting processes, ensuring comprehensive risk assessment and coverage across various lines of business.
Prepare information for/participate in quarterly earnings calls with WRBC.
May perform other functions as assigned.