Underwriter - Private Management Liability

Hybrid:
Chicago or New York, this position requires a minimum of 3 days in the office to promote collaboration and interaction with onsite associates

Salary Range: $80,000 - $120,000 plus bonus incentive

Job Overview

The Private Company Management Liability Underwriter is responsible for maintaining and expanding a profitable portfolio within the scope of private company management liability lines of business and products, aligned with Old Republic Professional’s (ORPRO) underwriting strategies and objectives.

This is a visible and important role working collaboratively with colleagues and key business leaders. The Underwriter will be able to make an immediate impact with the backing of an experienced and supportive team.

• Demonstrate an ability to qualitatively assess the risks which result from the interplay of specific corporate policies and actions combined with external factors (i.e. geopolitical, macroeconomic, etc.).
• Work collaboratively with a team to maintain own book of renewal business, responsible for overseeing the entire account life cycle including analysis of risk, recommending terms and conditions, quoting and binding terms and issuing policies.
• Develop proper “desk management” skills demonstrating the ability to efficiently triage renewal and new line submissions.
• Demonstrate ability to consistently apply existing guidelines and appetite to new and renewal book of business.
• Document assigned files ensuring completeness, complying with underwriting rules and regulations, appetite and authority.
• Demonstrate ability to develop and ask underwriting questions (potentially in client facing settings), which go beyond application information provided, which further supports the underwriting analysis.
• Work with manager to seek new account opportunities by identifying risks within the company guidelines and collaborating on the acceptability of risks.
• Seek to receive approved authority within guidelines and properly document the file.
• Develop knowledge and experience with key insured industry verticals e.g., industry trends, terminology, regulatory and legal.
• Handle routine coverage requests.
• Construct quotes and terms for renewal and new business.
• Demonstrate a basic understanding of Industry e.g., trends, competition, and basic insurance accounting and ORPRO results.
• Develop foundational knowledge of Old Republic Specialty Insurance Group’s and Old Republic International’s operations and position in the insurance industry.
• Become familiar with ORPRO’s distribution strategy, who our key distribution partners are, the drivers of strong partnerships, and the differences between different brokerages e.g. wholesale vs retail, global vs local, etc.
• Gain fluency in ORPRO’s selling points to pursue ORPRO’s growth strategies.

• A bachelor’s degree is required.
• Minimum 1 year of previous experience in a similar role.
• The ability to develop skills in relationship building, active listening, needs analysis and negotiating.
• The ability to develop, manage and maintain assigned broker relationships.
• The ability to conduct regular marketing activities at the direction of manager, both individually and with others.
• Develop negotiation skills by working with manager and other underwriters.
• Demonstrate ability to communicate effectively, by phone, email and in person, with an emphasis on pursuing growth goals while developing long-term positive relationships with clients.
• Develop partnership with assigned Underwriting Assistant to deliver exceptional service

Old Republic Professional (ORPRO™), established in December 1983, is a subsidiary of Old Republic International Corporation (NYSE: ORI), one of the nation’s 50 largest shareholder-owned insurance businesses and a member of the Fortune 500 listing of America’s largest companies. Old Republic Professional has provided Directors and Officers liability insurance and Lawyers Professional liability insurance for more than 40 years and now offers a wide array of management liability and professional liability products across an expanding national footprint in the U.S.

Work-life balance is highly valued;…