Senior Underwriter Cyber (Management Liability)

Nationwide•New York, NY

4d•$76,000 - $141,300•Hybrid

About The Position

If you’re passionate about helping people protect what matters most to them at a Fortune 100 company with nearly $70 billion in annual sales, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers and partners are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care. Hybrid position in New York City - typically two days a week in office. This role does not qualify for employer-sponsored work authorization. Nationwide does not participate in the Stem OPT Extension program. Under limited direction, assesses a company's risk profile and determines/negotiates the appropriate pricing, coverage, terms and conditions by analyzing a company's financial documents and other information for complex Cyber pricing. Includes, but not limited to the company's viability, issues, governance, regulatory environment and experience. Achieves team production and loss ratio goals within assigned territory by reviewing and analyzing claims, loss history and taking appropriate action on individual accounts. The underwriter works under limited direct supervision developing recommendations and applying judgment based on the financial analysis. Establishes and maintains effective relationships with brokers in order to generate premium dollars and profitably. Territory assignments are complex in nature concerning coverage and agent/broker/ relationships. Assists with the research, development and presentation of new programs, forms and manuals. Will be the main point of contact for brokers in that specific assigned territory.

Requirements

Undergraduate studies with focus in finance, accounting, economics and/or risk management.
Typically 2 years or more year’s related experience as a Cyber and/or Tech E&O Underwriter.
Knowledge of lines underwriting policies, practices and procedures, insurance law and underwriting marketing principles and techniques.
Knowledge of financial documents, financial analysis, investments, market conditions essential.
Ability to communicate complex underwriting concepts required.
Ability to communicate effectively, verbally, and in writing, interpersonally with individuals at various levels and groups via telephone, fax, e-mail and in person.
Demonstrates advanced negotiation skills.
Ability to analyze insurance risks to determine acceptability including policy language, various commercial rating plans and methodologies, reinsurance.
Knowledge of related computer software.
Ability to devise business solutions to problems, implements the most appropriate, and monitor its effectiveness.
Ability to make decisions with minimal direct supervision.

Nice To Haves

Degree Post graduate level studies preferred.
Legal knowledge related to insurance, contract and business law preferred.

Responsibilities

Under limited direction, assesses a company's risk profile and determines/negotiates the appropriate pricing, coverage, terms and conditions by analyzing a company's financial documents/operations/management/industry and other information. Including, but not limited to the company's viability, issues, governance, regulatory environment, and experience.
The underwriter analyzes, with a high level of technical expertise, exposures to loss, develops an adequate premium charge for the exposure, and determines appropriate endorsements and exclusions to address loss exposures for the insurance contract.
Within department guidelines places reinsurance, if any, for the account.
Achieves team production and loss ratio goals within assigned territory through sound marketing.
The underwriter continually analyzes premium and loss results in their territory by agency, state, major class of industry and by line of business
Handles complex policy maintenance items and other mid-term requests.
Reviews endorsement requests and processes needed changes to the policy.
Follows up on outstanding information as required.
Reviews claim activity and takes appropriate action.
Under limited direct supervision, establishes and maintains effective relationships with brokers in order to generate premium dollars and profitably.
Travels to broker offices as required for marketing visits.
Frequently entertains brokers to market services and ensure strong relationship to write business.
Typically participates in underwriting meetings with brokers, clients, and other underwriters. Meetings typically include CFOs, CEOs of client organizations and several underwriters from other organizations.
The CFO/CEO provides information. The underwriter clarifies and questions information provided by the client to appropriately assess the risk.
May be accompanied by a senior underwriter or above.
Places reinsurance per department guidelines based upon the appropriate use of all reinsurance facilities used by the department, including various treaties, semiautomatic and facultative reinsurance.
Maintains good working relationship with reinsures.
Mentors lower level underwriters.
Other responsibilities as assigned may include program research and development, form development, rate development, specials projects, technical assistance to brokers, underwriting assistants and other underwriters.
May performs other responsibilities as assigned.

Benefits

medical/dental/vision
life insurance
short and long term disability coverage
paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date
nine paid holidays
8 hours of Lifetime paid time off
8 hours of Unity Day paid time off
401(k) with company match
company-paid pension plan
business casual attire