RLI Corp. - Glastonbury, CT

posted 4 months ago

Full-time - Mid Level
Hybrid - Glastonbury, CT
Insurance Carriers and Related Activities

About the position

The Senior Underwriter for General Liability at RLI is a pivotal role that operates under general oversight, building upon the foundational skills of an Underwriter I and II. This position is designed for individuals who are ready to take on greater ownership and responsibility in the underwriting process. The Senior Underwriter will engage in analyzing, evaluating, accepting, declining, rating, quoting, and binding new or renewal submissions that involve high premium or risk exposure. A key aspect of this role is to foster and maintain strong relationships with agents, reinsurers, and other contacts, ensuring a collaborative approach to underwriting that enhances submission flows and profitability. In this role, the Senior Underwriter will review complex submissions, assess account losses, and utilize pricing models to determine profitable premiums. They will also be responsible for selecting appropriate risks and will assist with special projects or other duties as needed. The position requires a proactive approach to underwriting, where the individual will be expected to present solutions to management on non-standard issues without prior oversight, demonstrating a thorough understanding of the internal processes and the nature of operations for the accounts assigned. RLI emphasizes personal and professional growth, encouraging employees to pursue educational opportunities that enhance their skills and career advancement. The company fosters a learning culture, providing training and certification opportunities, tuition reimbursement, and education bonuses to support continuous development in the insurance field. RLI is committed to diversity and inclusion, aiming to attract and retain talent from diverse backgrounds while promoting an environment where all viewpoints are valued and respected. This commitment is reflected in their active participation in initiatives aimed at increasing diversity within the insurance industry.

Responsibilities

  • Analyze, evaluate, accept, decline, rate, quote, and bind new or renewal submissions with high premium or risk exposure.
  • Build strong relationships between agents, reinsurers, and contacts.
  • Review complex submissions, account losses, pricing models, and profitable premiums.
  • Review complex sources of profit by selecting appropriate risks.
  • Assist with special projects or other duties as needed.

Requirements

  • Typically requires a bachelor's degree in insurance, finance, risk management, business or a related field.
  • Minimum of 5+ years of related experience for consideration or equivalent level of education and experience.
  • Ability to use analytical methods in underwriting processes to find workable solutions.
  • Ability to verbally and in writing, communicate findings and recommendations to internal and external contacts on underwriting matters.
  • Ability to use software to summarize and analyze large amounts of data.
  • Understands, applies, & properly documents nature of operations of the risk for accounts assigned & communicates findings.
  • Ability to prepare, review, and complete underwriting analysis of accounts.
  • Analytical skills and understanding of submission requirements, model entry, and product appetite.
  • Participates in underwriting related continuing education.
  • Ability to generate innovative solutions within the underwriting department.
  • Has typically obtained letter of authority.
  • Has a good understanding of the markets and clients being serviced.
  • Has some authority to process approval, issuance, or change requests for policies.
  • Works on slightly more complex risks than UW I and has obtained higher level of authority.
  • Presents solutions to management on non-standard issues without prior oversight or guidance from manager.
  • Ability to know proper sign off & correct UW judgement in most cases.
  • Possess a thorough understanding of the internal processes of the product and displayed understanding of loss rating/credibility.

Nice-to-haves

  • Experience in specialty insurance markets.
  • Advanced certifications in underwriting or risk management.

Benefits

  • Employee stock ownership plan (ESOP)
  • 401(k) — automatic 3% company contribution
  • Annual discretionary 401k and ESOP profit-sharing contribution (up to 15% of base salary)
  • Annual bonus plans
  • Paid time off (PTO) and holidays
  • Paid volunteer time off (VTO) to support our communities
  • Parental and family care leave
  • Flexible & hybrid work arrangements
  • Fitness center discounts and free virtual fitness platform
  • Employee assistance program
  • Comprehensive medical, dental and vision benefits
  • Flexible spending and health savings accounts
  • 2x Base Salary for Group Life and AD&D insurance
  • Voluntary life insurance for purchase
  • Critical Illness & Accident insurance
  • Short-term and long-term disability benefits
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