Underwriter II

Berkley•Chicago, IL

17h•$90,000 - $100,000•Onsite

About The Position

Berkley Select delivers professional liability insurance solutions to individuals, businesses, professional services firms, and nonprofit organizations. As a Berkley company, Berkley Select is staffed with a team of experts with a specific focus on Professional Liability. Berkley Select utilizes individual risk underwriting, loss control, and claims practices providing superior products and services to its customers. Berkley Select is a Berkley Company. W. R. Berkley, founded in 1967, is one of the nation’s premier commercial lines property casualty insurance providers. W. R. Berkley Corporation (NYSE: WRB). This role will evaluate (selection and pricing) and maintain (control) risk acceptability and profitability within the company’s underwriting guidelines and procedures for professional liability with a focus on Management Liability. This individual will maintain and develop good wholesale and brokerage relationships and/or program relationships when necessary, and critically analyze risk characteristics to reach sound underwriting decisions while meeting and maintaining the production, profitability, and service standards established for the company. Work to achieve company goals to advance profitable written premium growth. Adhere to underwriting authority level and guidelines in place. Gather underwriting information to properly evaluate commercial risks for acceptability within company guidelines. Underwrite to acceptable profitability metrics Meet/Exceed production, profitability, retention and service targets. Ability to research and solve more complicated problems and make decisions. Understand rate development and ability to price underwriting exposures correctly. Determine final coverage and pricing for professional liability risks. Recommend policy form enhancements and endorsements to advance the business. Knowledge of competitor form and coverages. Work in both a collaborative team environment but also be able to work independently. Review claims and loss information on individual risks. Use this information to identify and re-evaluate accounts and develop a strategy for dealing with exposures and frequency issues. As a team with the Manager, manage the portfolio profitability and identify favorable and unfavorable classes of business. Adhere to pricing metrics for sustained book performance and favorable loss history. Maintain quality and performance standards as established, such as turnaround and response time. Be informed/knowledgeable of industry issues and activities through formal educational processes to develop underwriting skills. PLUS membership or involvement is preferred. Identify and cultivate brokers with new business opportunities and build renewal relationships. Regular and predictable attendance at meetings with willingness to occasionally travel. Assist with training and educating junior level employees. Regular and predictable attendance. Other duties and special projects as assigned. The position is based in Chicago; in-office four days per week. We do not accept any unsolicited resumes from external recruiting firms. The company offers a competitive compensation plan and robust benefits package for full time regular employees which for this role includes: Base Salary Range: $90,000 - 100,000. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. This role is eligible to participate in the annual discretionary bonus program. Benefits: Health, Dental, Vision, Life, Disability, Wellness, Paid Time Off, 401(k) and Profit-Sharing plans.

Requirements

Four (4) year College Degree or equivalent proven product line experience.
Must be able to conceptualize and analyze financials at a college level, as required by product line.
Must be able to analyze professional liability risk characteristics.
Good written and oral communications skills, including the ability to compose various types of business correspondence.
Knowledge of E&O underwriting coverages and policy form terms and conditions. – Must have prior experience
Must be able to manage multiple priorities, have good analytical skills and the ability to exercise independent judgment.
Must be customer service oriented; a team player; willing to learn; organized; detail oriented and flexible.
Focus on building broker relationships and proven development of those relationships.
Working knowledge of PC’s and other software programs (including Microsoft Word and Excel).

Nice To Haves

Insurance designations, such as an RPLU, are a plus.
PLUS membership or involvement is preferred.
Knowledge of Accountants Professional Liability a plus.
Knowledge of P.L. programs a plus.

Responsibilities

Evaluate (selection and pricing) and maintain (control) risk acceptability and profitability within the company’s underwriting guidelines and procedures for professional liability with a focus on Management Liability.
Maintain and develop good wholesale and brokerage relationships and/or program relationships when necessary, and critically analyze risk characteristics to reach sound underwriting decisions while meeting and maintaining the production, profitability, and service standards established for the company.
Work to achieve company goals to advance profitable written premium growth.
Adhere to underwriting authority level and guidelines in place.
Gather underwriting information to properly evaluate commercial risks for acceptability within company guidelines.
Underwrite to acceptable profitability metrics
Meet/Exceed production, profitability, retention and service targets.
Ability to research and solve more complicated problems and make decisions.
Understand rate development and ability to price underwriting exposures correctly.
Determine final coverage and pricing for professional liability risks.
Recommend policy form enhancements and endorsements to advance the business.
Knowledge of competitor form and coverages.
Work in both a collaborative team environment but also be able to work independently.
Review claims and loss information on individual risks.
Use this information to identify and re-evaluate accounts and develop a strategy for dealing with exposures and frequency issues.
As a team with the Manager, manage the portfolio profitability and identify favorable and unfavorable classes of business.
Adhere to pricing metrics for sustained book performance and favorable loss history.
Maintain quality and performance standards as established, such as turnaround and response time.
Be informed/knowledgeable of industry issues and activities through formal educational processes to develop underwriting skills.
Identify and cultivate brokers with new business opportunities and build renewal relationships.
Regular and predictable attendance at meetings with willingness to occasionally travel.
Assist with training and educating junior level employees.
Regular and predictable attendance.
Other duties and special projects as assigned.