Underwriter, Surety

Chubb; Minneapolis (MN); On-site; USD 120,000 - 180,000; Full time

Job summary

Chubb is seeking a Senior Surety Underwriter in Minneapolis to underwrite surety credits and manage risk for profitable growth. The role involves risk assessment, financial analysis, and expert decision-making to structure terms, conditions, and rating plans for complex portfolios.

Travel is required (10–25%), and you will document files, mentor junior staff, and collaborate with internal teams to expand the book of business while ensuring client satisfaction and profitability.

Qualifications

• Underwrite surety credits to achieve profitability while meeting client needs.
• Assess risks on a contract and account level with strong analytical thinking.
• Interpret financial statements and ratios for underwriting decisions.

Responsibilities

• Marketing and prospecting for new business across the assigned territory.
• Travel 10–25% and manage flexible territory options.
• Document underwriting files and maintain accurate records.
• Determine terms, conditions, and complex rating plans.
• Handle more complex files and portfolios.
• Guide and mentor junior staff.

Skills

Surety underwriting

Risk assessment

Financial analysis

Credit risk

Risk management

Tools

Underwriting software

Job description

The Senior Surety Underwriter’s primary responsibility is to underwrite individual surety risks through a demonstration of the following skills and abilities:

• Fundamental Surety Underwriting. Ability to underwrite surety credits which generate a profit for the Company while meeting the needs of the customer.
• Risk Assessment. Ability to identify risk exposures, analyze contracts and bond forms. Ability to analyze and differentiate risks on an account specific basis. Manage underwriting meetings with customers to understand operations and internal controls.
• Financial proficiency. Sophisticated understanding of financial statements and ratios used in surety underwriting. Understanding of the impact of underwriting decisions on company results. Ability to understand credit risk.
• Actuarial fundamentals. Ability to understand loss trends, loss triangles, and ratemaking. Ability to quantify risk based on experience history and forecasting methods.
• Marketing and communications. Ability to build relationships, internally and externally, to grow the book of business to achieve bottom line profitability for the Company. Ability to make presentations and communicate articulately. Ability to base communications on strategic thinking. Ability to manage producer strategy.
• Systems and programs. Ability to use systems and software programs needed to conduct daily business.
  

Major Duties & Responsibilities:

• Marketing and prospecting for new business, primarily through travelling throughout the assigned territory.
• Travel expectations 10-25% with flexible territory options.
• Documents the underwriting files
• Determines terms and conditions and complex rating plans
• Handles more complex files and portfolios
• Guides and mentors junior staff