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Underwriter - Professional Indemnity

Global Speciality insurance and reinsurance company are recruiting for an experienced Underwriter to join the PI team in London during an exciting time of growth.

Currently the team write a diverse portfolio of professions in the UK, US and Internationally including Accountants, Actuaries, Engineering, Lawyers and Misc.

Key accountabilities

  • Awareness of and contribution to the delivery of the divisional business plan, making decisions as appropriate
  • Contribute and participate in all relevant meetings, in order to share and develop strategy, knowledge and best practice
  • Positively promote the department, division and company as a whole, in order to maximize brand leverage
  • Apply the reinsurance strategy in order to safeguard the portfolio
  • Perform underwriting activities in accordance with all legal and regulatory requirements to ensure obligations are met
  • Adheres to underwriting standards, instructions and good practice to minimise risk and maximise efficiency
  • Ensure the recording and measurement of insurance risks, including delegated underwriting authorities (DUA's) where relevant, to ensure accuracy and good practice, assisting with the development or modify policy wordings as appropriate
  • Understand and comply with any reinsurance requirement to minimize risk and to deliver business plan objectives
  • Use technical knowledge and judgement to refer and support Senior/Underwriters with identifying issues and opportunities
  • Establish, develop and strengthen relationships with stakeholders including customers, brokers, business partners and colleagues to maximise influence and achieve business objectives
  • Demonstrate support for market associations and trade bodies
  • Continually develop expertise and technical knowledge through identifying and implementing appropriate learning and development activities
  • Underwriting insurance risks in accordance with the business plan and the delegated underwriting authority to meet business objectives. This includes negotiating rates, terms and conditions for existing and new business (developing or modifying policy wordings as appropriate), ensuring compliance with internal and external regulations and guidelines, ensuring contribution to the business plan and objectives, and support credit control, where required, in payment collection
  • Participate in the review and analysis of the portfolio to identify progress towards business objectives
  • Ensure all business is thoroughly evaluated by peer review and that risks written adhere to the Company's underwriting standards and individual authority

Skills & experience

  • Significant knowledge of relevant market conditions for FINPRO class
  • Good understanding of FINPRO specific underwriting and binder management
  • Strong knowledge of underwriting process and procedures
  • Good working knowledge of relevant underwriting systems
  • Strong knowledge of legal and regulatory requirements (specific reference to PRA, FCA and Lloyds regulations
  • Strong customer orientation skills
  • Manage conflicting priorities to achieve deadlines
  • Able to plan effectively and efficiently
  • Ability to collaborate effectively in team environment
  • Strong analytical skills using data for decision-making
  • Strong level of numeracy and literacy skills
  • Strong attention to detail
  • Ability to engage and positively influence colleagues
  • Specific professional qualification (CII) (preferable)
  • Substantial experience gained within the insurance industry and within a FINPRO underwriting area (US, Solicitors and Misc PI)
  • Underwriting/managing cross-class binding authorities with FINPRO focus
  • Strong/established customer/broker relationships

Underwriter - Professional Indemnity

London, UK
Full time
Lloyd's of London Market

Published on 11/25/2021

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