FM Affiliated Production Underwriter (I, II, III or Sr.)

FM Global•Park Ridge, IL

52d•Onsite

About The Position

FM Affiliated is looking for a Production Underwriter to join the Chicago Office. This unique opportunity to be a part of the largest FM Affiliated office is extremely important because the FM Affiliated Production Underwriter is responsible for both new business production as well as renewal retention while maintaining underwriting profit and protecting the company's assets. The Production Underwriter demonstrates team leadership and initiative, good judgment, and decision-making skills. We are open to considering candidates with a variety of experience levels for this role. Both mid-level and senior-level candidates are encouraged to apply. The Production Underwriter must effectively market FM Affiliated products and services to a network of producers with whom long term relationships are developed, maintained, and cultivated. The FM Affiliated production underwriter is responsible for profitable risk selection, negotiation of pricing, terms, and conditions, and using creative underwriting strategies to optimize net retentions that effectively balance both customer and company needs. The Production Underwriter is responsible to coordinate account team resources to provide excellent and responsive services that add value to their broker and customer relationships. The Production Underwriter works closely with Account Engineers to review renewal and new business opportunities to ensure proper risk identification, analysis, and assessment in order to ensure the development and growth of a profitable portfolio of business in the Chicago territory. FM Affiliated Production Underwriters primary relationships are with Brokers and reinsurers for insurance-related issues. Responsibilities include meeting specific profit, production, and retention goals as developed in consultation with Regional and Area manager. Multiple business contacts must be established, and an effective program of calls must be executed averaging 8-10 face-to-face visits a month to ensure high visibility. New risks must be pre-qualified based on acceptability today and its future potential. This includes a thorough analysis of the broker submission, desired pricing, terms and conditions, financial condition, adequacy of reported values, and loss experience. The company's assets must be protected by adhering to company underwriting standards and procedures. This will include determining the amount subject and net capacity commitment, in addition to checking cross liability, managing catastrophe aggregate retentions, negotiating, and purchasing reinsurance and establishing commissions in a manner most advantageous to the company.

Requirements

bachelor's degree or equivalent combination of education and experience
2 years of commercial underwriting experience
experience dealing with a variety of occupancies
knowledge of current engineering and underwriting issues such as current property coverages and forms, and/or quickly learn and keep updated on industry state of the art
excellent organizational, time management, problem solving, decision making, interpersonal and selling skills
working knowledge of MS Office products

Responsibilities

new business production
renewal retention
maintaining underwriting profit
protecting the company's assets
effectively market FM Affiliated products and services to a network of producers
profitable risk selection
negotiation of pricing, terms, and conditions
using creative underwriting strategies to optimize net retentions that effectively balance both customer and company needs
coordinate account team resources to provide excellent and responsive services that add value to broker and customer relationships
review renewal and new business opportunities to ensure proper risk identification, analysis, and assessment
development and growth of a profitable portfolio of business in the Chicago territory
meeting specific profit, production, and retention goals
pre-qualify new risks based on acceptability today and its future potential
thorough analysis of the broker submission, desired pricing, terms and conditions, financial condition, adequacy of reported values, and loss experience
determining the amount subject and net capacity commitment
checking cross liability
managing catastrophe aggregate retentions
negotiating and purchasing reinsurance
establishing commissions in a manner most advantageous to the company