The Underwriter reviews insurance applications to evaluate, classify, and rate each risk to determine acceptability, coverage, and pricing by performing the following duties.
Essential Duties & Responsibilities- Examines documents such as application forms, inspection reports, past claims, and medical reports to determine degree of risk from such factors as applicant financial standing, business operations, loss experience, and condition of risk.
- Determines whether to accept, modify, or decline risks.
- Establishes types and limits of coverage to be provided.
- Determines if reinsurance is needed and works with supervisor and reinsurers to place reinsurance on policies when risk is high.
- Calculates standard rates and premium charges by using approved formulas and tables.
- Decreases value of policy when risk is substandard to limit company obligation, and specifies applicable endorsements, or applies rating to ensure safe and profitable distribution of risks.
- Works with Supervisor by suggesting new or modified policy wording when standard text is not appropriate.
- Monitors the limits of liability in force on single risk or group of closely related risks, and evaluates possibility of losses due to catastrophe or excessive insurance.
- Consults with field representatives, insurance agents, or brokers, and other insurance or inspection companies to obtain further information, quote rates, or explain company underwriting policies.
- Exhibits knowledge of Insurance and Healthcare Industry, including medical, legal and insurance terminology.
- Occasional overnight travel may be required of this position. (up to 25%)
Education, Requirements & Competencies- 2+ years of MPL Physicians underwriting experience required
- Bachelor's degree (B.A.) in Business Administration from a four-year college or university; or two to four years related experience and/or training; or equivalent combination of education and experience.
- Property and Casualty Producers license or pursuit thereof required. Willing to complete requirements of the CPCU or RPLU designation, or equivalent related experience and/or training.
- Previous medical malpractice underwriting experience is required.
- Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, governmental regulations, underwriting guidelines and manuals, bylaws, financials, articles of organization, loss runs, Joint Commission reports and other industry reports.
- Ability to write reports, business correspondence, and procedure manuals.
- Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
- Proficient in Microsoft Office
- Ability to learn the use of new software applications as required. Employee will be required to become proficient in the use and understanding of the Company's core underwriting operating system (Netcore).
Base salary range is $72,355 - $97,885. Individual compensation packages are based on a variety of factors that are unique to each candidate including location, skill set, experience, qualifications and education.
