Position SummaryThe Senior Binding Authority Underwriter is responsible for leveraging extensive industry knowledge and underwriting expertise to evaluate complex risks, negotiate terms, and bind complex coverage agreements. The role cultivates and maintains relationships with brokers and clients and optimizes risk portfolios. They drive underwriting excellence, review and authorize binding authority requests, provide strategic guidance, and ensure compliance with regulatory standards.
What will your job entail?Job Responsibilities:
- Review and authorize complex new business submissions and renewal risks submitted by brokers, including analysis of historical performance and overall risk quality.
- Evaluate risk exposure and determine appropriate underwriting decisions, including acceptance, modification, or declination of risks.
- Negotiate profitable binding terms and successfully place complex risks in alignment with underwriting targets and portfolio objectives.
- Assess premium adequacy and profitability, including potential loss exposure from catastrophic events or excessive insurance concentration.
- Apply binding authority underwriting guidelines and best practices while ensuring compliance with regulatory, statutory, and internal policies and procedures.
- Create, maintain, and update binding authority underwriting guidelines; review and revise policy language as needed to reflect coverage intent and regulatory requirements.
- Develop and maintain strong, long-term relationships with brokers, agents, and internal underwriting partners to support a profitable and sustainable book of business.
- Maintain and expand knowledge of international taxation rules and ensure proper application and filing across applicable jurisdictions.
- Coach and mentor junior binding authority underwriters, supporting the development of technical underwriting skills and insurance knowledge.
Work Experience:
- Minimum of 8 years of experience in Binding Authority and Insurance Underwriting with a Bachelor's degree, or 6 years of experience and a Master's degree.
Education:
- Bachelor's degree required; Business Administration, Risk Management preferred. Any other related discipline or commensurate work experience considered.
Licenses and Certifications:
- Prescribed: Minimum requirements for state P&C and/or surplus line licenses
- Preferred: Certified Insurance Counselor (CIC), Chartered Property Casualty Underwriter (CPCU)
How We Support Our TeammatesRyan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them - and their family members - achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.
The target salary range for this position is $94,850.00 - $95,000.00 annually.
The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.
The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
