Senior Underwriter Excess Liability

Summary

This is an opportunity to join SPEAR Specialty, one of the McGowan Companies, the world's largest privately held Programs management organization. The McGowan Companies are designed as a modern-era company operating through an ecosystem of independent - albeit interconnected ' operating underwriting companies bound by a common mission and purpose; to provide its clients with 'unparalleled service'.

To that effect, we are seeking an experienced growth-oriented Senior Casualty Underwriter with extensive wholesale and retail broker relationships and knowledge of E&S Casualty risks.

The Senior Underwriter will have frequent interactions with SPEAR's intermediaries partners in providing coverage for new and renewal businesses based on the customers' needs.

The Ideal Candidate Will Be Responsible For

• Thoroughly evaluating insurance applications, assessing risk levels, making informed decisions on insurance programs and overseeing the underwriting process for complex cases, often mentoring junior underwriters while ensuring the Agency maintains a healthy risk portfolio and profitability.
• Cultivating and maintaining relationships with peers, leaders and internal partners across functional areas to identify cross-selling opportunities, while assisting in product development and operational excellence.
• Staying current on competition, underwriting environment, market conditions and share that knowledge with colleagues and leadership.
• Providing support within established performance standards, assuring that all related support activities are delivered in a manner consistent with business unit customer service focus.
• Performing other duties as assigned.
  
  

The ideal candidate will possess strong decision-making skills and be, detailed oriented, able build and sustain relationships, results driven and have a track record of working in a fast-paced environment.

Essential Duties And Responsibilities

• Comprehensive Risk Assessment:
  
  

Analyze detailed application information, and other relevant data submitted in the renewal and new business activities process to determine the risks inherent to potential clients' activity, considering factors like business exposure, operational and contractual risk management processes, tangible and intangible liabilities.

• Decision Making:
  
  

Decide whether to approve or decline insurance applications based on the assessed risk level, adhering to company guidelines and regulatory requirements to support underwriting decisions that are consistent with Agency growth, profitability and within individual granted authority.

This Includes

• Partnering with Senior underwriter(s) to establish support needs i.e., conforming to a Peer Review pre-underwriting process for new and renewal business. Peer review should be understood as having a discussion with at least one fellow underwriter whose opinion is non-binding but rather insightful about key characteristics of the risk.
• Reviewing underwriting / pricing exhibits (i.e., Account Summaries, Loss Runs, Internet Research e.g. Risk Meter CoreLogic, Rate Sheets, etc.).
• Managing/overseeing account documentation (i.e., Account Clearance, Acknowledgement Letters, Underwriting Documentation, Closing Letters) as needed.
• Complex Case Management:
  
  

Handle intricate cases requiring in-depth analysis, including negotiating terms and conditions with clients or brokers on high-value insurance programs.

• Underwriting Team Leadership:
  
  

Mentor and guide junior underwriters, reviewing their work and providing feedback to ensure quality standards are met.

• Policy Development:
  
  

Participate in the development and refinement of underwriting policies and procedures to adapt to market changes and risk mitigation strategies, or any projects/assignments as needed.

• Data Analysis and Reporting:
  
  

Monitor underwriting performance metrics, identify trends, and generate reports to inform management decisions on risk management and portfolio optimization.

Assist with the integration of new systems possibly managing support staff.

Work with their supervising underwriter(s) conducting quarterly audits of underwriting files to ensure accounts are written in accordance with assigned Letters of Authority.

• Client Interaction:
  
  

Collaborate with brokers, and clients to address concerns, suggest or provide alternative solutions as needed and explain underwriting decisions.

Required Values, Skills, Qualifications And Availability

• Team Spirit
  
  

Together, Each Achieves More. Displaying a Good Team Spirit is a prerequisite of this position as we are a group of people who perform interdependent tasks to work toward accomplishing a common mission or specific objective. To that end, it is expected that any team member will be available to accomplish any tasks/assignments as designated by senior management or to help a co-worker achieve a mission for the common good, as needed.

• Entrepreneurship mentality
  
  

A self-starter that can work independently and within a team.

A personal drive for excellence, a track record of exceeding expectations, and a flair for innovation.

• Extensive Underwriting Expertise:
  
  

Deep knowledge and understanding of underwriting principles, of insurance products, risk assessment methodologies, and industry regulations relevant to the specific insurance.

• Technology and Analytical Skills:
  
  

Embraces technology and its tools to streamline business production and administration.

Ability to analyze complex financial data, identify patterns, and make informed decisions based on quantitative information.

Strong information management skills and proficiency in commonly used technology tools (Microsoft Office).

• Strong Judgment and confidentiality:
  
  

Strong critical thinking and problem-solving skills.

Confidence in making sound decisions under pressure, balancing risk and potential profit.

• Communication Skills:
  
  

Effective communication with internal stakeholders (any of the McGowan Companies teams, management), external stakeholders (State National Company, Market, Treaty Carriers) to explain underwriting rationale as needed.

Excellent oral and written communication skills with ability to successfully negotiate in difficult situations with brokers and insureds.

• Leadership Abilities:
  
  

Proven ability to mentor and guide junior underwriters, fostering a positive team environment

• Availability:
  
  

The position requires extensive traveling ' up to three months per year ' to meet new and existing clients and brokers of assigned regions and attend professional conventions, gatherings or invitations.

• Servicing Predispositions:
  
  

Organization and prioritization.

Attention to detail and accuracy.

Accurate and timely servicing of accounts in accordance with Agency Service Standards.