Senior Underwriter Cyber (Management Liability)

Nationwide Mutual Insurance Company

New York (NY)

On-site

USD 76,000 - 141,000

Full time

8 days ago

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Benefits offered by this job

Medical/dental/vision

Life insurance

Disability coverage

Paid time off

9 paid holidays

401(k) with company match

Pension plan

Business casual attire

Job summary

Nationwide Mutual Insurance Company in New York City is seeking an experienced Senior Underwriter for cyber and technology E&O. You will assess risk, price coverage, negotiate terms, and collaborate with brokers to generate premium dollars.

The role requires strong analytical ability and negotiation skills, with the ability to explain complex insurance concepts to clients and brokers. Hybrid work with two in-office days per week in NYC.

Qualifications

Undergraduate studies in finance, accounting, economics or risk management.
2+ years of cyber/tech E&O underwriting experience preferred.
Ability to analyze complex financial information and underwriting data.

Responsibilities

Assess risk profiles and determine pricing, coverage, terms and conditions.
Negotiate with clients and brokers to establish favorable terms.
Develop recommendations based on financial analysis and exposures.
Maintain broker relationships to generate premium dollars and profitability.
Travel to broker offices for marketing visits and engagement.

Skills

Underwriting knowledge

Negotiation skills

Communication skills

Relationship building

Education

Bachelor's degree

Tools

Financial analysis tools

Job description

If you’re passionate about helping people protect what matters most to them at a Fortune 100 company with nearly $70 billion in annual sales, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers and partners are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care. Hybrid position in New York City - typically two days a week in office. This role does not qualify for employer-sponsored work authorization. Nationwide does not participate in the Stem OPT Extension program. #LI-CL1

Job Description Summary

Key Responsibilities

Under limited direction, assesses a company's risk profile and determines/negotiates the appropriate pricing, coverage, terms and conditions by analyzing a company's financial documents/operations/management/industry and other information. Including, but not limited to the company's viability, issues, governance, regulatory environment, and experience. The underwriter analyzes, with a high level of technical expertise, exposures to loss, develops an adequate premium charge for the exposure, and determines appropriate endorsements and exclusions to address loss exposures for the insurance contract. Within department guidelines places reinsurance, if any, for the account. Achieves team production and loss ratio goals within assigned territory through sound marketing. The underwriter continually analyzes premium and loss results in their territory by agency, state, major class of industry and by line of business Handles complex policy maintenance items and other mid-term requests. Reviews endorsement requests and processes needed changes to the policy. Follows up on outstanding information as required. Reviews claim activity and takes appropriate action. Under limited direct supervision, establishes and maintains effective relationships with brokers in order to generate premium dollars and profitably. Travels to broker offices as required for marketing visits. Frequently entertains brokers to market services and ensure strong relationship to write business. Typically participates in underwriting meetings with brokers, clients, and other underwriters. Meetings typically include CFOs, CEOs of client organizations and several underwriters from other organizations. The CFO/CEO provides information. The underwriter clarifies and questions information provided by the client to appropriately assess the risk. May be accompanied by a senior underwriter or above. Places reinsurance per department guidelines based upon the appropriate use of all reinsurance facilities used by the department, including various treaties, semiautomatic and facultative reinsurance. Maintains good working relationship with reinsures. Mentors lower level underwriters. Other responsibilities as assigned may include program research and development, form development, rate development, specials projects, technical assistance to brokers, underwriting assistants and other underwriters. May performs other responsibilities as assigned.

Reporting Relationships

Reports to Director/AVP

Typical Skills and Experiences

Education: Undergraduate studies with focus in finance, accounting, economics and/or risk management. Degree Post graduate level studies preferred. Experience: Typically 2 years or more year’s related experience as a Cyber and/or Tech E&O Underwriter. Knowledge, Abilities and Skills: Knowledge of lines underwriting policies, practices and procedures, insurance law and underwriting marketing principles and techniques. Knowledge of financial documents, financial analysis, investments, market conditions essential. Legal knowledge related to insurance, contract and business law preferred. Ability to communicate complex underwriting concepts required. Ability to communicate effectively, verbally, and in writing, interpersonally with individuals at various levels and groups via telephone, fax, e-mail and in person. Demonstrates advanced negotiation skills. Ability to analyze insurance risks to determine acceptability including policy language, various commercial rating plans and methodologies, reinsurance. Knowledge of related computer software. Ability to devise business solutions to problems, implements the most appropriate, and monitor its effectiveness. Ability to make decisions with minimal direct supervision. Other criteria, including leadership skills, competencies and experiences may take precedence. Staffing exceptions to the above must be approved by the hiring manager’s leader and HR Business Partner.

Values

Regularly and consistently demonstrates the Nationwide Values.

Job Conditions

Overtime Eligibility: Not Eligible (Exempt) Working Conditions: Normal office environment. Ability to travel locally and overnight for client meetings as needed. ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some associates assigned to the job to perform a somewhat different combination of duties.

Benefits

medical/dental/vision
life insurance
short and long term disability coverage
paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date
nine paid holidays
8 hours of Lifetime paid time off
8 hours of Unity Day paid time off
401(k) with company match
company-paid pension plan
business casual attire
and more.

To learn more about the benefits we offer, click here.

Equal Opportunity Employer

Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.

For NY residents please review the following state law information: Notice of Employee Rights, Protections, and Obligations LS740 (ny.gov) https://dol.ny.gov/system/files/documents/2022/02/ls740_1.pdf

Employment Agencies

NOTE TO EMPLOYMENT AGENCIES: We value the partnerships we have built with our preferred vendors. Nationwide does not accept unsolicited resumes from employment agencies. All resumes submitted by employment agencies directly to any Nationwide employee or hiring manager in any form without a signed Nationwide Client Services Agreement on file and search engagement for that position will be deemed unsolicited in nature. No fee will be paid in the event the candidate is subsequently hired as a result of the referral or through other means.

Compensation

Nationwide pays on a geographic-specific salary structure and placement within the actual starting salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity and location of the role as well as the cost of labor in the market; and other conditions of employment. If a Sales job, Sales Incentives, based on performance goals are possible in addition to this range. Note on Compensation for Part-Time Roles: Please be aware that the salary ranges listed below reflect full-time compensation. Actual compensation may be prorated based on the number of hours worked relative to a full-time schedule. The national salary range for Sr Underwriter, Brokerage Management Liability - E&S/Specialty : $76,000.00-$141,300.00 The expected starting salary range for Sr Underwriter, Brokerage Management Liability - E&S/Specialty : $76,000.00 - $114,000.00

Company Culture

At Nationwide, we find purpose in protecting people, businesses and futures with extraordinary care – and we’ve been doing that since 1926. Our financial strength and caring culture extend beyond our associates into the communities we serve. You really can feel the difference at Nationwide, which is why we continue to be named one of the Fortune 100 Best Companies To Work For. Check out why others think we're a great place to work, too, and let us know – can you see yourself at Nationwide?

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