Directors & Officers (D&O), Employment Professional Liability (EPL)
We currently have an opportunity for a Northeast Territory Lead/ Master Underwriter to join our Management Liability Team in our New York, NY office. Reporting directly to the East Region Manager, you will underwrite a portfolio of renewal and new business for Private Company and Not-for-Profit (including Health Care) accounts for Management Liability, which includes D&O, Employment Practices, Fiduciary Liability, Crime and Employed Lawyers. As a lead underwriter you will be expected to recommend and implement action plans for improvement of underwriting results for assigned producers and assigned territory. May act as coach /mentor to newer underwriters.
Responsibilities: 1. Maximizes opportunities for profitable new business, as appropriate based on marketing conditions, by leveraging business relationships in the East region, product knowledge and underwriting acumen. Manages financial performance of all assigned brokers in assigned territory including: loss ratio, premium plans (including new business, retention, and rate/exposure increases), and commission targets.
2. Underwrites a book of business. Manages underwriting quality and book management, which includes executing underwriting strategy and portfolio management. Ensures compliance with standards and assigned underwriting authorities.
3. Examines, identifies, and evaluates exposures by analyzing documentation from various sources (e.g. application, financial statements, credit reports, etc.) and makes underwriting decisions to accept, decline, or modify risks within assigned territory. Demonstrates a strong understanding of exposures and key coverage issues.
4. Develops superior working relationships with brokers in the Northeast, and with internal and external partners, to successfully promote achievement of mutual growth and profitability goals and to supply the appropriate products and services. From a marketing perspective, has the ability to identify gaps in coverage and/or services, understands where OneBeacon ML can make a difference based on those gaps and uses that information to help retain or obtain a customer. Works closely with and establishes strong business partnerships with other OneBeacon divisions in an effort to better service brokers and accounts.
5. Regularly travels to key producers/accounts and remains highly visible in the marketplace. Anticipates the needs of the broker plant, analyzes trends, and implements proactive strategies that best position OneBeacon. Communicates the OneBeacon underwriting appetite and generates. Communicates and monitors agency action plans and participates in broker planning and marketing meetings with other staff.
6. Gathers and analyzes competitor information and producer specific reports on assigned brokers’ new business flow, retention, profitability and potential, to support territorial rate reviews.
7. Maintains a strong professional knowledge of competitive, regulatory and legal environments and applies this information effectively.
Requirements: Expert knowledge of Management Liability underwriting, pricing, and coverage issues. Must be a proven self-starter with strong multi-tasking and customer service skills. Must have strong analytical, financial analysis, decision making, problem-solving, communication and organizational skills. Must have superior negotiation, marketing and sales skills. Must be able to work both independently and as a highly collaborative member of a team. Maintains strong professional knowledge of legal issues, industry trends and marketplace issues within the territory. Must be proficient with Microsoft Office suite.
Education and Experience: Bachelor’s degree. The ideal candidate will have a minimum of 5-10+ years of professional liability underwriting experience. Professional insurance designation is preferred (e.g., RPLU).
OneBeacon Insurance Group focuses on the unique risks faced by certain industry groups that we believe would benefit from specialized expertise, tailored products and an intense commitment to service. At OneBeacon, we believe that specialized expertise matters. Through our underwriting companies, we offer a broad range of specialty insurance products and services sold through independent agencies,... regional and national brokers, wholesalers and managing general agencies. Each OneBeacon business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment they know well.