Commercial Underwriter (Remote)

POSITION SUMMARY

The Commercial Underwriter evaluates submitted Commercial applications to determine risk acceptability. They will handle all transactions related to Commercial submissions including the classification of risk used for policy rating.  This will also include identification of hazards in high-value commercial exposures in excess of $20 million per location. This person assures that risks meet the FAIR Plan’s eligibility and underwriting requirements by continuous adherence to established underwriting standards.  

PRINCIPAL DUTIES & RESPONSIBILITIES

• Reviews new business Commercial applications for eligibility and completeness based on FAIR Plan underwriting requirements.
• Reviews policy contract language/forms and uses approved classification systems, rating plans and selection standards to determine eligibility and proper classification for rating.
• Applies knowledge of insurance principles and coverages.
• Applies available underwriting tools to guard against adverse risks.
• Reviews policy contract language/forms and uses approved classification systems, rating plans and selection standards to determine eligibility and proper classification for rating.
• Identifies, evaluates, and makes underwriting decisions according to FAIR Plan underwriting guidelines and program eligibility.
• Responsible for complex underwriting tasks.
• Provides technical assistance / training to internal and external customers regarding basic coverage definitions, policy and endorsement provisions, and underwriting acceptability for commercial property coverages.
• Reviews, evaluates, and monitors inspection reports for compliance and loss prevention.
• Performs appropriate classification and rate changes upon notification of exposure changes.
• Evaluates and processes Commercial endorsement referrals and general underwriting correspondence including initial research on Department of Insurance Request for Assistance letters received on Commercial policies.
• Handles renewal referrals from internal business units to ensure correct rating for Commercial policies.
• Evaluates existing procedures and recommends adjustments to ensure compliance with applicable guidelines and regulations and to streamline processes.
• Performs other duties as assigned by the Underwriting Manager or the Vice President of Underwriting.

KNOWLEDGE & SKILLS REQUIREMENTS

The individual must meet the following requirements:

• Bachelor’s Degree preferred.
• 2+ years of Commercial Underwriting, or equivalent, experience
• Knowledge of Commercial Property products and coverages and the Principles of Insurance
• Strong verbal and written communication skills.
• Attention to detail and accuracy.
• Proven decision-making skills with minimal direction.
• Proficient with Computers and Microsoft Office suite.
• Demonstrated understanding of Commercial Rating principles.

Compensation$70,000