Senior Underwriter - Surety

Core Specialty Insurance Services, Inc.; South Dakota; Hybrid; USD 90,000 - 130,000; Full time

Benefits offered by this job

Medical, dental, vision, and life ins.

Short and long-term disability

401(k) company-match (100% of 6%)

Employee Assistance Plan

Health Savings Account

Flexible Spending Account

Health Reimbursement Account

Wellness program

Job summary

Core Specialty Insurance Services, Inc. is seeking an experienced underwriter to assess and manage risk for surety bond applications.

The role involves evaluating applicants’ financial strength, analyzing terms, and making informed decisions to protect profitability while maintaining strong broker relationships. The position requires collaboration with the Automation Team, staying current on industry trends, and willingness to travel 10-20%.

Qualifications

• Bachelor’s degree in finance, business, accounting, or related field preferred.
• 3+ years of experience in surety underwriting or related field.
• Strong analytical skills with the ability to interpret financial data.

Responsibilities

• Review and evaluate surety bond applications to determine risk levels and underwriting terms.
• Analyze financial statements, credit reports, and other documents to assess applicant stability.
• Collaborate with brokers, agents, and clients to gather necessary information for bond risk analysis.
• Develop and maintain relationships with brokers, agents, and industry professionals.
• Provide guidance and support to junior underwriters or team members.
• Stay updated on industry trends, regulations, underwriting practices, and competitors.
• Coordinate with Automation Team to implement bond types/risks in the platform.

Skills

Decision-making

Underwriting software

Communication skills

Multitasking

Education

Bachelor's degree in finance/business/accounting

Tools

Underwriting software and tools

Job description

- The underwriter is responsible for assessing and managing risk associated with surety bond applications. They will evaluate the financial strength and credibility of applicants, analyzes terms, and makes informed decisions to protect the interests of the surety company while maintaining profitability. As an underwriter you will also be responsible for maintaining relationships with key agents and brokers. Willing to consider candidates located in Southern Ohio, Kentucky, Tennessee, North or South Carolina, Louisiana, Georgia, Alabama, South or North Dakota.

Key Accountabilities / Deliverables

• Review and evaluate surety bond applications/submissions to determine risk levels and underwriting terms.
• Analyze financial statements, credit reports, and other relevant documents to assess the financial stability of applicants.
• Collaborate with brokers, agents, and clients to gather necessary information required for proper analysis of bond risks.
• Develop and maintain relationships with brokers, agents, and industry professionals.
• Provide guidance and support to junior underwriters or team members.
• Stay updated on industry trends, regulations, underwriting practices, and competitors.
• Coordination with Automation Team to implement bond types/risks in the surety bond platform.
• Stay abreast of obligee requirements and statutory changes.
• Other projects and tasks as assigned.

Technical Knowledge and Understanding

• Excellent decision-making abilities and attention to detail.
• Proficiency in underwriting software and tools.
• Effective communication skills, both verbal and written.
• Ability to manage multiple projects and prioritize tasks effectively.

Experience

• Bachelor’s degree in finance, business, accounting, or related field is preferred.
• Extensive experience (3+ years) in surety underwriting or related field.
• Strong analytical skills with the ability to interpret financial data.
• Knowledge of surety bond principles, including indemnity agreements and bond forms.

Travel of 10 - 20% required. Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa for this position.

Benefits

• We offer medical, dental, vision, and life insurances;
• short and long-term disability;
• a Company-match of 100% of a 6% contribution 401(k) plan;
• an Employee Assistance Plan;
• Health Savings Account,
• Flexible Spending Account,
• Health Reimbursement Account, and a wellness program

At Core Specialty, you will receive a competitive salary and opportunities for professional development and advancement. We offer medical, dental, vision, and life insurances; short and long-term disability; a Company-match of 100% of a 6% contribution 401(k) plan; an Employee Assistance Plan; Health Savings Account, Flexible Spending Account, Health Reimbursement Account, and a wellness program Core Specialty offers a diversified range of property and casualty insurance products for small to mid-sized businesses. From underwriting offices spanning the U.S., the Company focuses on niche markets, local distribution, and superior underwriting knowledge, offering traditional as well as innovative insurance solutions to meet the needs of its customers and brokers.

For further information about Core Specialty, please visit www.corespecialtyinsurance.com. In compliance with the Transparency in Coverage rule, issued in 2020 by US Departments of Health, Human Services, Labor and Treasury our health plan’s machine-readable files (MRFs) can be accessed via www.Cigna.com.