Berkley Small Business Solutions (a Berkley Company) - West Hartford, CT

posted 5 months ago

Full-time - Mid Level
West Hartford, CT

About the position

The Underwriter for Small Business Main Street at Berkley Small Business Solutions is a pivotal role responsible for driving profitability through effective risk selection and account management. This position is integral to the startup organization that aims to exceed profitability goals by leveraging data and analytics. The Underwriter will review both new and renewal commercial insurance risks within the Small Business Program, which encompasses various products such as Businessowners, Micro-Businessowners, Workers' Compensation, and Excess Casualty. The role requires a thorough understanding of underwriting, risk assessment, pricing, and service delivery for these products. In this position, the Underwriter will determine the accurate classification of businesses, policy contract forms, and risk pricing, while also reviewing and acting upon relevant risk information. The Underwriter will execute risk assessment and pricing with the appropriate authority and will be responsible for reviewing, advising, and approving referrals from others. Additionally, the Underwriter will manage a book of business within an assigned agency territory, focusing on achieving predetermined premium goals and profitability objectives. This includes conducting audits on agency business, effectively communicating the company's underwriting philosophy, and ensuring compliance with underwriting best practices. Building and maintaining effective agency relationships is crucial, and the Underwriter will collaborate with the Distribution team to conduct agency visits, communicate expectations, and make recommendations for agency actions when necessary. The role also involves assisting in the development of new products, coverage enhancements, and procedures that drive production and processing efficiency. The Underwriter will be expected to learn and execute on future developments in Workers Compensation, Commercial Auto, and Excess Casualty insurance.

Responsibilities

  • Review new and renewal commercial insurance risks in the Small Business Program.
  • Determine the accurate classification of business, policy contract forms, and risk pricing.
  • Execute risk assessment and pricing with appropriate authority.
  • Review, advise, and approve others' referrals.
  • Manage a book of business within an assigned agency territory.
  • Achieve predetermined premium goals and profitability objectives.
  • Conduct audits on agency business and ensure compliance with underwriting best practices.
  • Cultivate effective agency relationships in collaboration with the Distribution team.
  • Conduct agency visits and communicate expectations.
  • Assist in developing new products, coverage enhancements, and procedures.

Requirements

  • 3+ years of related commercial auto underwriting experience (trucking preferred).
  • Experience writing motor carrier insurance auto in multiple states.
  • Experience with GL, Workers Compensation, BOP or CPP is desired.
  • Familiarity with FMCSA and Federal DOT financial responsibility requirements.
  • Excellent communication skills to work with internal and external stakeholders and customers.
  • Ability to manage time effectively in a demanding and changing environment.
  • Ability to work independently but collaboratively.
  • Commitment to company values and guiding principles.

Nice-to-haves

  • CPCU designation preferred.

Benefits

  • Competitive compensation plan.
  • Robust benefits package for full-time regular employees.
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