Property Engineering Energy Underwriter - Construction

Property Engineering Energy Underwriter - Construction

We’re adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. We will consider a range of experience for this role and the offer will be commensurate with that.

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

Munich Re Facultative and Corporate (MR F&C) was created to bundle Munich Re’s facultative and corporate business into one global unit. We believe that by aligning our single risk business in one unified team we will better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.

Future focused and always one step ahead

The Engineering & Energy business units of Munich Re F&C (Facultative & Corporate) provides custom-made insurance solutions to the power, energy and construction industries. The team is a recognized market leader in these classes of business. For the Munich Re F&C (MRF&C) U.S. Corporate Engineering & Energy team, we are looking for a qualified Construction underwriter who will be tasked with underwriting large builders risk placements.

This role is preferably based out of one of the following office locations:
New York, Chicago, Houston, San Francisco, or Atlanta.

Apply specialized EAR and CAR underwriting risk analysis skills and insurance knowledge to adequately assess the potential exposures for construction risks underwritten in the Munich Re Facultative & Corporate Property (MRF&C) U.S. Corporate Engineering & Energy Division of Munich Re. Determine the appropriate terms and conditions and to consider risk-sharing acceptances. Manage a growing pipeline of construction submittals. Assist where necessary on power-gen & renewable energy and down/midstream energy and specialty chemical risk accounts within the portfolio.

Deliver superior construction underwriting MRF&C U.S. Corp. Engineering & Energy clients and so contribute to its overall profitability.

Underwriting/Management:

• Produce, underwrite and manage a portfolio which contains a variety of civil, energy and power construction projects per risk appetite through contacts with retail and wholesale insurance Brokers, Risk Purchasing Groups and Captives.
• Underwriter charged with the responsibility for accepting Engineering (Power-Gen & Construction) and Energy allocated business.
• Perform the underwriting referral function as needed with colleagues and peers in line with established authority for Engineering and Energy business, as specified and as required in the underwriting guidelines and mandates.
• Implement use of pricing and layering models of the MRF&C Energy and the Munich Re rating and drive modifications when necessary.
• Support and recommend changes to the Engineering & Energy Underwriting Guidelines as needed.
• Work within the referral audit process with overall adherence to risk selection and pricing techniques developed for MRF&C Engineering & Energy.
• Support, recommend and develop new products and filings to satisfy client needs by using depth of underwriting background/experience for program development.
• Drive policy form enhancements and rating tools as well as being innovative with respect to distribution channel choices.
• Be a support/referral resource to other distribution channels and client groups, providing construction underwriting expertise and input.
• Negotiate and conclude the offers, terms of contract with brokers/clients and, when necessary and feasible, submit counter proposals.
• Analyze and evaluate our distribution of limits, attachment points and layers for Engineering & Energy business to maximize profitability potential.
• Track and monitor loss…