PI Underwriter/Senior Underwriter

Roles & Responsibilities

• Fully understand the risk and seek further clarity as required.
• Underwrite profitable business in accordance with business plans.
• Adhere to all Starr underwriting standards as outlined in the Underwriting Manual.
• Obtain sign-off for all business that is in excess of agreed authority levels or where any factor falls below rating guidelines.
• Adhere to rating tools and guidelines.
• Ensure that underwriting documentation, both paper and electronic, are accurate, complete, up-to-date and meet Lloyd’s standards.
• Ensure that the policy wordings and clauses are slip referenced and agreed.
• Ensure that all accounts are contract certain at time of binding.
• Develop broker and client relationships to optimise opportunities to lead business, arranging or attending regular meetings, presentations and events.
• Seek to grow market share by increasing awareness of technical expertise with outside parties.
• Explore client and company knowledge to identify and optimise cross-selling opportunities.
• Conduct Peer Reviews to check the underwriting rationale, terms and conditions, pricing against Starr guidelines and the completeness of files.
• Oversee that business retained within the portfolio continues to provides commercial advantage
• Assist in the preparation of Realistic Disaster Scenarios (RDS) returns to determine effectiveness of reinsurance coverage against business.
• Review Internal Audits and Expert Review Reports to identify and implement improvements.
• Manage aggregations / accumulations of joint venture interests.
• Support the CUO in producing a Professional Indemnity business strategy for approval by the Active Underwriter and the Board.
• Assist the CUO in producing a clear, coherent underwriting strategy.
• Implement the strategies within the agreed business plan.
• Determine appropriate levels of underwriting authority for each Underwriter.
• Provide raw data to the CUO to inform the reinsurance strategy.
• Conduct/attend appropriate marketing meetings/presentations with reinsurers.
• Monitor reinsurance coverage against the business plan, in association with the CUO.
• Together with the CUO, ensure adequate resource and capability to deliver the business plan and strategic objectives.

Experience

• Advanced class experience an an Underwriter/Broker
• Understanding of Lloyd’s and London Market processing arrangements for premiums and claims;
• Understanding of market wordings and clauses;
• Up-to-date knowledge of claims activity and handling to inform future underwriting decisions.