Commercial Lines Underwriter

My Insurance Broker•Vaughan, ON

1d•Hybrid

About The Position

The Commercial Lines Underwriter plays a critical role in assessing risks, evaluating insurance applications, and making informed underwriting decisions on new business, renewals and endorsement submissions. They will ensure the profitability of the company's portfolio by balancing risk selection and providing competitive insurance solutions. This role requires strong analytical skills, attention to detail, and the ability to build strong relationships with our broker partners.

Requirements

College or University level Degree or comparable experience.
RIBO License or willing to obtain within the first year of employment (if applicable).
3 - 5 years’ of work experience in a commercial lines department at an Insurance Brokerage, Managing General Agency and/or Insurance company in a similar role.
Demonstrated ability to handle multiple priorities successfully.
Excellent verbal and written communication skills.
Strong analytical, time management and organizational skills.

Nice To Haves

CIP or CAIB Certification or working towards its completion is considered an asset.
Experience working with EPIC is considered an asset.
Experience working with Acturis is considered an asset.

Responsibilities

Review and analyze commercial insurance applications across designated market segments and manage policy submissions, ensuring alignment with underwriting guidelines, risk appetite, and company objectives.
Underwrite a variety of commercial lines submissions to provide tailored insurance solutions for brokers, ensuring adherence to departmental guidelines and contributing to a profitable business portfolio.
Assess risks associated with each application by considering factors like loss history, risk details, industry trends, and risk mitigation protocols.
Leverage third-party tools and resources such as Google Maps and integrated risk-rating software to collect accurate data and conduct thorough due diligence.
Establish terms and conditions of coverage including premiums, deductibles, and exclusions while maintaining market competitiveness. Apply underwriting guidelines specific to each program segment, recognizing that rates and conditions vary by segment.
Apply established pricing structures and underwriting guidelines to calculate premiums and generate accurate quotes. Follow-up on outstanding quotes with brokers.
Review renewals to identify and apply any necessary exclusions or restrictions in accordance with program guidelines.
Prepare clear and concise underwriting documentation to explain the rationale behind each decision.
Ensure underwriting decisions are communicated effectively with brokers.
Provide support to brokers by addressing underwriting inquiries both in writing and verbally.
Stay informed about industry trends, emerging risks, and regulatory changes including participation in ongoing professional development opportunities.
Ensure compliance with regulatory requirements and company policies while maintaining a high level of professionalism in all underwriting practices.
Perform other duties as required.