Underwriter – Middle Market Solutions – Property
| Company | Arch Capital Group |
|---|---|
| Location | Boston, MA, USA, Washington, DC, USA, Morristown, NJ, USA, Bronx, NY, USA, Philadelphia, PA, USA, Hartford, CT, USA, New York, NY, USA, White Plains, NY, USA |
| Salary | $81498 – $110262 |
| Type | Full-Time |
| Degrees | Bachelor’s |
| Experience Level | Mid Level, Senior |
Requirements
- Three to five years of prior experience in a similar role with accountability for managing a business portfolio
- Bachelor’s Degree in Economics, Law, or other appropriate discipline
- Progress towards professional insurance qualification (e.g. CPCU) is a plus
- Proven track record in underwriting profitable business
- Good understanding of regional/local LoB insurance markets and competitor landscape
- Understanding of legal and regulatory framework
Responsibilities
- Underwrite new and renewal business in accordance with Arch business strategy and letter of underwriting authority
- Effectively negotiate pricing, terms and conditions for all business commensurate with risk quality, prior experience and market conditions
- Be responsive and decisive in all aspects of managing a given portfolio, geography, etc.
- Develop and maintain meaningful relationships with brokers and Arch colleagues to achieve goals
- Underwrite new and renewal business to achieve top and bottom-line targets
- Effectively negotiate pricing, terms and conditions with brokers and insureds when necessary
- Appropriately evaluate and underwrite Natural Catastrophe exposures in accordance with letter of authority and business strategy
- Ensure compliance with pricing tools and business strategy with all exposures accepted and renewed
- Place and bind facultative reinsurance in accordance with business strategy and contractual obligations of reinsurance partner
- Utilize appropriate contracts and endorsements in compliance with Department of Insurance for given state(s) where we assume risk
- Document all underwriting decisions in a timely fashion and with clarity so there is no ambiguity of intent and scope of offering
- Adhere to file maintenance and quality expectations in accordance with expectations of Chief Underwriting Office
- Effectively communicate with Operations colleagues to ensure that our work product, policies, etc. are accurate and issued in a timely manner
- Establish sound relationships with Distribution colleagues to meet needs of brokers and insureds seeking Arch solutions
- Have good knowledge of contracts, commissions and strategies for each broker partner to ensure we live up to our commitments
- Positively represent Arch Insurance to brokers and the prevailing insurance market by being knowledgeable, communicative and responsive
Preferred Qualifications
- Progress towards professional insurance qualification (e.g. CPCU) is a plus