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Vela Insurance Services (A W. R. Berkley Company) - Chicago, IL
posted 2 months ago
About the position
The Senior Underwriter at Vela Insurance Services is responsible for evaluating and maintaining risk acceptability and profitability within the company's underwriting guidelines, specifically focusing on non-admitted primary and excess Miscellaneous Professional Liability. This role involves managing relationships with wholesale brokers, meeting production and profitability targets, and developing underwriting strategies based on market changes.
Responsibilities
- Evaluate and maintain risk acceptability and profitability within the company's underwriting guidelines for commercial risks.
- Manage and maintain good relationships with Wholesale Brokers.
- Meet and maintain production, profitability, and service standards established for the company.
- Assist in building appetite and risk selection guidelines for new classes of business.
- Gather underwriting information to evaluate commercial risks for acceptability within company guidelines.
- Underwrite for profit and meet/exceed production, profitability, and service targets.
- Research and solve complicated problems and make decisions regarding underwriting.
- Determine final coverages and pricing for commercial risks.
- Review claims and loss information on individual risks to identify and re-evaluate accounts.
- Manage portfolio profitability and identify favorable and unfavorable classes of business in collaboration with the Manager.
- Maintain quality and time standards as established by the company.
- Stay informed about industry issues and activities to develop underwriting skills.
- Identify and cultivate brokers with new business opportunities.
- Perform other duties as assigned.
Requirements
- Four (4) year College Degree or commensurate experience and training.
- Minimum of 5 years' commercial lines underwriting experience, specifically in Professional Lines MPL and TPL.
- Strong experience in Excess & Surplus Lines and Wholesale Brokerage Distribution.
- Professional designations such as RPLU, CPCU, ASLI, AU are preferred.
- Experience writing supported excess is preferred.
