Ace Hardware - Oak Brook, IL
posted 3 months ago
The Commercial Underwriter at Ace Hardware will play a crucial role in underwriting the Ace Hardware Insurance Program. This position involves the prequalification of new business, validating renewal exposures, assessing risk qualifications, and determining pricing. The underwriter will assist the AIA team in achieving its servicing and sales goals through a variety of underwriting and workflow responsibilities. The role requires managing the underwriting of the entire policy portfolio, which includes Package, ISO BOP, WC, Auto, and excess lines of coverage, ensuring alignment with the agency and fronting carriers' growth, retention, rate, profitability, and premium goals. In this position, the underwriter will work closely with the fronting carrier to identify potential deficiencies in agency guidelines and explore opportunities for improvement. They will champion necessary coverage and rate changes in collaboration with the fronting carrier and agency management. The underwriter will evaluate both new and renewal exposures, limits, and issued policies to ensure compliance with underwriting guidelines and state regulations. Additionally, they will manage the policy referral process to the fronting carrier, ensuring that submissions are complete and that there is a thorough understanding of the issues necessitating the referral, as well as ensuring timely responses from the fronting carrier. The underwriter will also work with agents to ensure that renewals are completed and issued, with policies received by the agent at least 30 days prior to the renewal date. They will order and evaluate various reports to determine future underwriting actions, including renewing risks with no changes, modifying coverage, and deciding on non-renewals. This role requires a detail-oriented individual who can handle multiple tasks and meet deadlines while maintaining high standards of quality and accuracy in underwriting.