Executive Underwriter - Primary Casualty

AmTrust Financial Services Inc.; Chicago (IL); On-site; USD 115,000 - 170,000; Full time

Benefits offered by this job

Medical & Dental Plans

401k Savings Plans

Paid Time Off

Job summary

AmTrust Financial Services Inc. is seeking an Executive Underwriter to join our Specialty Casualty underwriting team in Chicago.

You will underwrite and manage a portfolio of hard-to-place liability risks, focusing on construction, products liability, hospitality and distressed premises, while developing new business through strong broker partnerships. This role requires 15+ years of industry experience, including 10+ years in Excess & Surplus lines, with advanced risk assessment skills and a

Qualifications

• 15+ years of industry experience with 10+ years in Excess & Surplus (E&S) lines for high-hazard, complex risks.
• BA/BS degree strongly preferred, or equivalent experience.
• CPCU or related insurance designation preferred.
• Knowledge of commercial E&S risk, pricing, and coverage options with adherence to regulatory guidelines.
• Ability to align underwriting with strategic priorities: pricing, agent strategy, risk appetite, and mix of business.
• Strong understanding of the E&S external market and proven marketing and business development in wholesale channels.
• Advanced analytical skills to interpret data and make critical risk decisions.
• Excellent written and verbal communication and negotiation skills.
• Willingness to travel up to 25% of time.

Responsibilities

• Identify and develop new business opportunities; manage broker development and relationships.
• Develop risk pricing by analyzing exposures, claims and using pricing tools.
• Meet budgeted financial targets (premium, loss ratio, retention, commissions).
• Support profitability and growth through market analysis and portfolio decisions.
• Keep current on regulatory changes and emerging exposures to inform product development.
• Collaborate with underwriting, legal and claims on product strategies and competitiveness.
• Lead coverage decisions and mentor junior underwriters.

Skills

Executive underwriting

Risk assessment

Portfolio management

Education

BA/BS degree or higher

CPCU or related designation

Tools

Pricing tools

Excel

Job description

Overview

Our Specialty Casualty underwriting department is seeking an Executive Underwriter to join our growing team. The Specialty Casualty team delivers significant value to our wholesale brokers by providing them with an underwriting capability for higher hazard General Liability and Excess insurance needs that are best addressed on an individual risk basis.

With this opportunity, you will underwrite and manage a portfolio of hard to place liability risks with tougher exposures considered unique or challenging in accordance with AmTrust E&S guidelines, strategy and profitability standards. The person in this position is responsible for new business development, risk analysis and assessment, coverage evaluation, pricing and contract negotiation in order to maintain and develop a profitable portfolio of non-admitted primary and excess liability risks Professional Liability risks

Position requires advanced risk assessment skills with minimum of 15 years industry experience, 10+ years in Excess and Surplus lines with specialized coverage and product knowledge for higher-hazard, complex risks, with a focus on construction, products liability, hospitality and distressed premises.

Responsibilities

• Build and maintain a solid flow of new business opportunities, identifying opportunities for growth within new and existing production sources. Position has direct responsibility for broker development and management within a book of business.
• Develop risk pricing by analyzing exposures, claims experience, utilizing pricing tools and worksheets, comparison to similar risks, as well as experience in underwriting exposures pertaining to individual risks, for new accounts within assigned portfolio and authority level.
• Consistently achieve budgeted financial results (premium, loss ratio, retention, commissions, pricing, new business, premium collection, and expense management) as established for individual portfolios.
• Supports the achievement of continued profitability, growth and/or operational efficiencies for a product line through assessment of competitor product offerings and market appetite
• Remain current on legal and regulatory changes, claim development and emerging exposures/issues to contribute to unit product development and portfolio decisions.
• Collaborates with Underwriting, Legal and Claims to drive product development strategies and initiatives supporting business objectives and ensuring product modernity/competitiveness
• May take lead responsibility for position papers for emerging exposures/ issues when assigned.
• Identify and take corrective action and/or collaborate with the appropriate area within the organization based on individual risk characteristics identified through broker reviews, large loss analysis, risk control, etc.
• Coaches, leads and develops underwriters and directs the development of coverage and associated exposure training.

Qualifications

• 15+ years industry experience, 10+ years in Excess and Surplus lines with specialized coverage and product knowledge for higher-hazard, complex risks, with a focus on construction, products liability, hospitality and distressed premises risks.
• BA/BS degree strongly preferred, or equivalent in experience
• CPCU or other related Insurance Designation(s) preferred
• Knowledge of commercial Excess and Surplus lines risk, classification, pricing and coverage options with adherence to applicable statutory compliance issues and corporate guidelines.
• Able to understand and execute to strategic priorities including; pricing strategy, agent strategy, rate strategy, underwriting appetite, limit management and mix of business.
• Strong knowledge of the E & S external market and demonstrated marketing and business development experience within the wholesale distribution channel.
• Advanced analytical skills to interpret business information drawn from multiple sources to take critical account decisions regarding quality of risk.
• Excellent written and oral communication skills and ability to interact effectively with all levels in the organization
• Keen influencing and negotiation skills are essential
• Strong computer skills (Excel|Word|SharePoint) with demonstrated high accuracy output.
• Ability and desire to travel up to 25% of the time within the assigned territory

The expected salary range for this role is (USD $114,700.00 - USD $170,000.00 Yr. )

Please note that the salary information shown above is a general guideline only. Salaries are based upon a wide range of factors considered in making the compensation decision, including, but not limited to, candidate skills, experience, education and training, the scope and responsibilities of the role, as well as market and business considerations.

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What We Offer

AmTrust Financial Services offers a competitive compensation package and excellent career advancement opportunities. Our benefits include Medical & Dental Plans, Life Insurance, including eligible spouses & children, Health Care Flexible Spending, Dependent Care, 401k Savings Plans, Paid Time Off.

AmTrust strives to create a diverse and inclusive culture where thoughts and ideas of all employees are appreciated and respected. This concept encompasses but is not limited to human differences with regard to race, ethnicity, gender, sexual orientation, culture, religion or disabilities.

AmTrust values excellence and recognizes that by embracing the diverse backgrounds, skills, and perspectives of its workforce, it will sustain a competitive advantage and remain an employer of choice. Diversity is a business imperative, enabling us to attract, retain and develop the best talent available. We see diversity as more than just policies and practices. It is an integral part of who we are as a company, how we operate and how we see our future.