Underwriter - Property/Power/Renewable Energy

QIC DIFC; Dubai; On-site; AED 240,000 - 480,000; Full time

Job summary

QIC DIFC is seeking an experienced underwriting professional to assess, price, and underwrite Property, Power, and Renewable Energy risks in line with our strategy and risk appetite. You will ensure appropriate coverage, terms, exclusions and risk controls while supporting portfolio growth.

You will review submissions, determine coverage and pricing within delegated authority, draft policy wordings, and coordinate with brokers, clients and reinsurers to support timely placement and servicing.

Qualifications

• Bachelor’s degree in Engineering, Insurance, Risk Management, Business or related discipline.
• Minimum 5–7 years of underwriting experience for Property, Power, Energy or Renewable Energy risks.
• Strong knowledge of policy coverage, wordings, clauses, warranties, endorsements, exclusions and limits.
• Professional insurance qualification such as CII, ACII or equivalent is an added advantage.
• Experience reviewing risk surveys or engineering reports and dealing with brokers, clients and reinsurers is preferred.

Responsibilities

• Underwrite Property, Power and Renewable Energy risks by reviewing submissions, exposure data, engineering surveys and loss records.
• Determine appropriate coverage, insured values, limits, deductibles, pricing, warranties, clauses, exclusions and endorsements within delegated authority.
• Draft and negotiate policy wordings and terms and conditions to ensure coverage intent is clear and company interests are protected.
• Assess technical and catastrophe exposures for property assets, power plants and renewable-energy projects.
• Review risk-engineering reports, identify material recommendations and incorporate risk-improvement requirements into underwriting terms.
• Prepare quotations, renewal terms and underwriting recommendations and refer risks outside authority with clear rationale.
• Monitor accounts for changes in exposure, claims experience and profitability and propose corrective actions.
• Coordinate with brokers, clients, risk engineers, claims teams, reinsurers and internal stakeholders for timely placement and servicing.
• Support facultative reinsurance placement and ensure consistency between insurance and reinsurance terms.
• Maintain accurate underwriting records and comply with guidelines, authority limits, policies and regulatory requirements.

Skills

Underwriting principles

Policy wording

Pricing

Risk assessment

Reinsurance

Analytical skills

Education

Bachelor's in Engineering

Bachelor's in Insurance

Risk Management

CII/ACII

Tools

Underwriting systems

Job description

Job Purpose :

To assess, price and underwrite Property, Power and Renewable Energy risks in line with the company’s underwriting strategy, risk appetite, delegated authority and applicable procedures. The role ensures appropriate policy coverage, terms, conditions, exclusions and risk controls while supporting sustainable portfolio growth and sound underwriting results.

Job Duties:

1. Underwrite Property, Power and Renewable Energy risks by reviewing submissions, exposure data, engineering surveys, loss records and other relevant information.
2. Determine appropriate coverage, insured values, limits, deductibles, pricing, warranties, clauses, exclusions and endorsements within delegated authority.
3. Interpret, draft and negotiate policy wordings and terms and conditions to ensure coverage intent is clear and the company’s interests are appropriately protected.
4. Assess technical and natural-catastrophe exposures associated with property assets, power plants and renewable-energy projects, including construction, operational and machinery-related risks where applicable.
5. Review risk-engineering reports, identify material recommendations and incorporate suitable risk-improvement requirements into underwriting terms.
6. Prepare quotations, renewal terms and underwriting recommendations, and refer risks outside authority with a clear technical and commercial rationale.
7. Monitor existing accounts for changes in exposure, claims experience, risk quality, accumulation and profitability, and recommend corrective action where required.
8. Coordinate with brokers, clients, risk engineers, claims teams, reinsurers and other internal stakeholders to obtain complete information and support timely placement and servicing.
9. Support facultative reinsurance placement where required and ensure consistency between insurance and reinsurance terms.
10. Maintain accurate underwriting records and comply with underwriting guidelines, authority limits, internal policies and applicable regulatory requirements

Education, Qualifications and Experience

• Bachelor’s degree in Engineering, Insurance, Risk Management, Business or a related discipline. An engineering background is preferred but not essential.
• Minimum 5 years/7 years of relevant underwriting experience, preferably covering Property, Power, Energy and/or Renewable Energy risks.
• Strong knowledge of policy coverage, wordings, clauses, warranties, endorsements, exclusions, deductibles and limits.
• Professional insurance qualification such as CII, ACII or an equivalent credential is an added advantage.
• Experience in reviewing risk surveys or engineering reports and dealing with brokers, clients and reinsurers is preferred.

Knowledge and Skills

• Property, Power and Renewable Energy underwriting principles and risk assessment.
• Policy wording interpretation and negotiation of terms and conditions.
• Risk selection, pricing, exposure assessment and portfolio management.
• Risk-engineering reports, loss-history analysis and risk-improvement measures.
• Facultative reinsurance fundamentals and alignment of insurance/reinsurance terms.
• Proficiency in standard office and underwriting systems; strong numerical and analytical skills.