Underwriter-Surplus Lines

Job Overview: We are seeking a highly motivated and detail-oriented Underwriter to join our team. This individual will be responsible for managing Surplus Lines contracts, ensuring compliance with state and federal regulations, and supporting the business through various underwriting and risk management tasks. The role includes handling monthly and quarterly reporting, policy creation, claims coordination, and supporting business operations through effective communication with brokers and auditors.

Key Responsibilities:

• Monthly Reporting & Premium Tracking:
• Submit monthly reports to brokers on business risk premiums and claims.
• Track all Binders' Year-to-Date Net and Gross Premiums.
• Surplus Lines Compliance & Filings:
• File monthly Surplus Lines Stamping Fees for the states of New York and Pennsylvania and submit payments for the Company.
• Submit annual taxes for the states of New York and Pennsylvania, while creating and tracking numbers on reports monthly.
• Create quarterly reports for the State of New Jersey and submit Surplus Lines Taxes via the Department of Insurance portal.
• Surplus Lines Contract Management:
• Ensure the Company’s compliance with all Surplus Lines contracts, including BRIT, CONVEX, and MS Amlin.
• Track all required documents for Surplus Lines contracts and manage renewal coverages for E&O, Cyber Liability, Professional Liability, and related attestations.
• Training & Compliance Documentation:
• Access and complete the Lloyd’s Training Module, maintaining a log to track all training for Surplus Lines BINDER Authority individuals.
• Ensure compliance for all Surplus Lines contracts and assist with necessary audit preparations.
• Policy Creation & Risk Evaluation:
• Review, evaluate, recommend, and correct contracts for Surplus Lines, including creating policy guts, schedules, declaration pages, and endorsements.
• Assess business compliance with respect to all Surplus Lines coverage.
• Audit Coordination & Process Improvement:
• Manage audits for BRIT, MS Amlin, and CONVEX, and implement recommendations to improve processes.
• Develop and maintain a Disaster Recovery Plan, Business Continuity Plan, and modify Bordereaux per syndicates' requests.
• Update the Financial Crime Manual and Conflict of Interest Manual as per audit recommendations.
• Brokers and Business Communication:
• Communicate with brokers for open market business risks and endorsements or policy changes.
• Maintain availability via email and phone to assist brokers, auditors, and business needs when not in the office.
• Policy and Contract Management:
• Manage Workers Compensation and National Binding, including endorsements, state filings, and endorsement updates.
• Assist with policy creation for new and existing clients, including creating and submitting necessary paperwork.
• Risk Review & Premium Tracking:
• Track wire transfers for settlements related to risk premiums and claims.
• Review, assess, and recommend appropriate coverage options and ensure risk management standards are followed for each BINDER.
• Claims & Documentation Management:
• Handle claim check processing and maintain a system for analyzing, copying, and recording claim-related documents.
• Support underwriting with required documents and assist in dispute resolution related to policies and claims.
• Vendor & IT Compliance:
• Collaborate with Bob to research and secure suitable vendors that provide services to keep the Company in compliance for IT requirements.
• Maintain state and federal licensing for underwriting and policy-related tasks.
• Policy Wording & Regulatory Changes:
• Assist with changes in policy wording, ensuring compliance with state-specific regulations (e.g., New York and Pennsylvania) and avoiding additional taxes on policy fees.
• Work with Solartis and other partners to ensure policy changes are properly implemented.
• Additional Duties as Assigned:
• Collaborate with various teams and assist with the development and renewal of Surplus Lines contracts as needed.
• Provide ad-hoc reports and analysis as required by management and the business.
• Bachelor’s degree in Business, Insurance, Finance, or related field.
• 3 years of experience in underwriting, insurance, or a similar field, with specific experience in Surplus Lines highly preferred.
• Strong understanding of Surplus Lines insurance policies, state and federal regulations, and compliance requirements.
• Excellent organizational skills with the ability to manage multiple projects and meet deadlines.
• Strong written and verbal communication skills for interacting with brokers, auditors, and internal teams.
• Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint) and familiarity with insurance software platforms.
• Ability to work independently and collaboratively in a team-oriented environment.
• Detail-oriented with the ability to track, analyze, and report on complex information.
• Strong problem-solving skills and ability to handle sensitive and confidential information.

Job Type: Full-time

Pay: $45,000.00 - $55,000.00 per year

Schedule:

• 8 hour shift

Work Location: In person

Salary : $45,000 - $55,000