Property and Casualty Underwriter

$98,120 - $128,782/Yr

Ryan Specialty Group - Chicago, IL

Full-time - Mid Level

Chicago, IL

Insurance Carriers and Related Activities

About the position

As a Property and Casualty Underwriter at Ryan Specialty, you will play a crucial role in underwriting new and renewal property and casualty business. Your primary responsibilities will include analyzing policy forms, broker endorsement requests, and submitted documentation in accordance with the company's underwriting standards and guidelines. You will be tasked with obtaining additional information as needed to make informed decisions regarding risk acceptance, modification, or decline. This involves evaluating various factors such as coverage value, location, usage, and safety features to determine the appropriate coverage limits, insurance premiums, and policy terms and conditions based on risk assessment and underwriting guidelines. In this position, you will also be responsible for maintaining active portfolio management of property and casualty accounts. You will deliver services for new business and renewals while demonstrating professionalism and technical knowledge, ensuring adherence to underwriting guidelines. Your role will require you to examine, identify, and evaluate exposures, ensuring compliance with state and country laws and guidelines established by carriers and the organization. Additionally, you will provide premium forecasts and business plans to support budget and performance targets. Building and maintaining existing broker relationships will be essential, as you will collaborate across teams to manage production activities such as submissions, quotes, declines, and issuance. You will create customized insurance solutions to service clients effectively, maximizing retention of your assigned portfolio and ensuring timely review of renewal business to achieve business targets. Your marketing activities will include attending seminars and training, staying informed about market dynamics and property and casualty underwriting trends, and adjusting underwriting strategies based on emerging risks and industry trends. To succeed in this role, you will need a minimum of 5 years of experience in Property and Casualty Underwriting, along with a Bachelor's degree. A Master's degree is preferred, particularly in Risk Management, Actuarial Science, or Business Administration. You will also need to meet the prescribed minimum requirements for state P&C and/or surplus line licenses, with a Chartered Property Casualty Underwriter (CPCU) designation being preferred.

Responsibilities

• Underwrite new and renewal property and casualty business.
• Analyze policy forms, broker endorsement requests, and submitted documentation according to company underwriting standards.
• Determine whether to accept, modify, or decline a risk based on evaluation of coverage value, location, usage, and safety features.
• Establish appropriate coverage limits, insurance premiums, policy terms, and conditions based on risk assessment and underwriting guidelines.
• Manage an active portfolio of property and casualty accounts.
• Deliver services for new business and renewals while adhering to underwriting guidelines.
• Examine, identify, and evaluate exposures to ensure compliance with state and country laws and guidelines.
• Provide premium forecasts and business plans to support budget and performance targets.
• Maintain existing broker relationships and collaborate across teams to manage production activities.
• Build professional, long-term relationships in the designated portfolio and partner with brokers to create customized insurance solutions.
• Create opportunities for new business and maximize retention of assigned portfolio.
• Execute marketing activities, attend seminars and training, and stay informed about market dynamics and underwriting trends.

Requirements

• Minimum of 5 years of experience in Property and Casualty Underwriting.
• Bachelor's degree required; Master's degree preferred in Risk Management, Actuarial Science, or Business Administration.
• Prescribed minimum requirements for state P&C and/or surplus line licenses.

Nice-to-haves

• Chartered Property Casualty Underwriter (CPCU) designation preferred.

Benefits

• Paid time off for vacation, sick, and personal days.
• Paid parental leave.
• Paid company holidays.
• Comprehensive benefits package for physical, financial, and emotional wellbeing.