Production Underwriter (I, II, III or SR)

FM•Chicago, IL

About The Position

FM Affiliated is seeking a Production Underwriter to join its Chicago Office. The role is responsible for new business production and renewal retention while maintaining underwriting profit and protecting company assets. The underwriter demonstrates team leadership, initiative, sound judgment, and decision-making skills. The position markets FM Affiliated products and services to producers and develops and maintains long-term relationships. It involves selecting risks profitably; negotiating pricing, terms, and conditions; applying underwriting strategies to balance customer and company needs; and coordinating account-team resources to provide responsive service to brokers and customers. The underwriter works with Account Engineers to assess new business and renewals and support growth of a profitable portfolio in the Chicago territory. Primary relationships are with brokers and reinsurers on insurance-related matters. The role includes meeting profit, production, and retention goals set in consultation with Regional and Area managers, establishing business contacts, and averaging 8–10 face-to-face visits per month. New risks are evaluated for current acceptability and future potential through analysis of broker submissions, pricing, terms and conditions, financial condition, reported values, and loss experience. The underwriter follows company standards and procedures to protect assets, including determining subject and net capacity commitments, checking cross liability, managing catastrophe aggregate retentions, negotiating and purchasing reinsurance, and establishing commissions.

Requirements

Bachelor’s degree or equivalent.
2–5 years of industry experience as an underwriter for commercial property accounts of varying occupancies and sizes, with a broker or insurance company.
Experience dealing with a variety of occupancies.
Experience with current engineering and underwriting issues, such as property coverages and forms, or ability to quickly learn and stay current with industry practices.
Proficiency in MS Office products.
Strong organizational, time-management, problem-solving, decision-making, interpersonal, and selling skills.

Responsibilities

Market FM Affiliated products and services to producers and develop, maintain, and cultivate long-term relationships.
Select risks profitably and negotiate pricing, terms, and conditions using underwriting strategies that balance customer and company needs.
Coordinate account-team resources to provide responsive service and add value to broker and customer relationships.
Work with Account Engineers to review renewal and new-business opportunities and ensure proper risk identification, analysis, and assessment.
Develop and grow a profitable portfolio of business in the Chicago territory.
Meet profit, production, and retention goals established in consultation with Regional and Area managers.
Establish multiple business contacts and execute an effective calling program averaging 8–10 face-to-face visits per month.
Pre-qualify new risks by analyzing broker submissions, desired pricing, terms and conditions, financial condition, reported values, and loss experience.
Protect company assets by adhering to underwriting standards and procedures.
Determine subject and net capacity commitments; check cross liability; manage catastrophe aggregate retentions; negotiate and purchase reinsurance; and establish commissions in the company’s best interest.