Title: Underwriter Department: Construction Property (Builders Risk)Job Description
Starr Companies is a global insurance and investment organization providing solutions to business and industry, and one of the fastest-growing insurance companies in the world. Our talented and experienced associates manage risk and ultimately support the profitable growth of organizations in a dynamic, competitive and ever-changing marketplace.
We are seeking a highly motivated and detail-oriented individual to join the Builder's Risk team based in NYC. The successful candidate will ideally have a minimum of 3-5 years' experience in underwriting Builder's Risk &/or brokering of same combined with a strong understanding of commercial underwriting principles and knowledge of the marketplace.
Duties and responsibilities of the position
- Actively solicit and review submission(s) from various production sources
- Analyze submitted documentation according to company underwriting standards and guidelines and identify additional information requirements
- Understand and deploy the various risk tools namely ; RMS; Risk meter; Nathan; CATNET etc.
- Subject to written underwriting authority prepare and present quotation terms and conditions as submitted. Prepare written referral document and submit for approval to the appropriate authority when quoted terms or conditions fall outside underwriting authority
- Review and approve binding terms and conditions for new and renewal business as well as endorsements and amendments to existing policies. Review and approve final bound policy terms prior to mailing to broker/client in accordance with underwriting standards and guidelines
- Prepare and approve insurance details for binders and reinsurance layoff sheets for underwriting assistants, in order to book and bill new and renewal accounts
- Understand the fundamentals of facultative reinsurance
- Review and approve policy forms for all new and renewal policies according to binding terms for policy issuance by U/A prior to issuance
- Prepare and approve file documentation in accordance with documentation procedures
- Prepare various Home Office reports as requested or required
- Other duties which may be assigned by the manager
Skills/Experience Required:
- 3-5 years underwriting/brokering experience with a focus on Builder's Risk (construction property); Large property; Technical property underwriting experience is considered a plus particularly pertaining to Civil Projects e.g. bridge, tunnel, rail, road construction
- Computer skills
- Word processing, spreadsheet utilization, and slide-show assembly and presentation
- Analytical mind
- Creativity and adaptability
- Service-oriented
- Able to work in a team environment
- Excellent organizational skills
- Salesmanship attributes
For individuals assigned and/or hired to work in New York, Starr Insurance Companies is required by law to include a reasonable estimate of the compensation range for this role. The wage range for this role considers the wide range of factors that are considered in making compensation decisions including but not limited to skill sets: experience and training: licensure and certifications: and other business and organizational needs. A reasonable estimate of the current range is $110,000 - $135,000
