W.R. Berkley Corporation→
Garage Underwriter at W.R. Berkley Corporation in Glen Allen, VA
Skills
Job Description
At Verus Specialty Insurance, a proud member of the esteemed W.R. Berkley Corporation (NYSE: WRB), we stand as a leading Excess and Surplus Lines provider delivering comprehensive solutions across the United States. Backed by the formidable strength of a Fortune 500 titan and operating with the agility of a nimble startup, we blend the best of both worlds to foster innovation and excellence in everything we do.
Our nationwide operations are supported by a robust network of select wholesale producers, ensuring that our reach and capabilities are always close at hand. We are driven by a forward-thinking leadership that champions a dynamic culture where questioning the norm is not just welcomed but expected. This ethos empowers our team to consistently surpass customer expectations and drive the industry forward.
At Verus, we are more than just a company; we are a community that thrives on collaboration, growth, and taking ownership of our actions. We are constantly on the lookout for exceptional talent who are eager to contribute, innovate, and grow with us. If you are passionate about making a mark in the insurance industry and align with our vision, we eagerly await your application. Join us and be a part of a team where your contributions are valued, and your potential fully realized!
The Company is an equal employment opportunity employer.
As a Garage Underwriter at Verus, you will independently manage a diverse portfolio of complex and high-risk garage accounts. With some managerial direction, you will utilize your expertise to make informed decisions within your assigned authority. This role demands an understanding of the excess and surplus lines market, the ability to build strong broker relationships, and a strategic approach to risk selection and pricing. Your contributions will be key to driving the company's growth and ensuring profitability.
- Risk Evaluation: Independently underwrite small to midsized garage risks, including general liability, product liability, and other specialty lines as well as handle a complex renewal book.
- Broker Relationships: Develop, manage, and strengthen relationships with wholesale brokers, ensuring a steady flow of business and staying ahead of market trends. Plan, orchestrate, and lead highly effective broker meetings to strengthen relationships, address performance issues, and explore new business opportunities.
- Broker Performance Management: Proactively identify and address broker performance issues, ensuring alignment with company standards and fostering strong broker relationships.
- Market Expertise: Stay informed on industry developments, regulatory changes, and emerging trends, leveraging this knowledge to enhance underwriting decisions and drive business growth.
- Underwriting Authority: Make autonomous decisions on risk acceptance, coverage terms, and pricing within your assigned level of authority.
- Production Metrics: Consistently meet or exceed designated line of business (LOB) production metrics, contributing to the overall success of the underwriting team.
- Technical Knowledge: Ability to apply technical knowledge in underwriting, coverage, and pricing to manage complex risks and optimize profitability.
- Risk Selection & Pricing: Demonstrate a comprehensive understanding of pricing and risk selection criteria, ensuring underwriting decisions are both profitable and competitive.
- Travel: Conduct a minimum of 2 trips per year to visit brokers, build relationships, and represent Verus at industry events.
- Referral Management: Ability to properly handle referrals and ensure consistent underwriting quality across the team.
- Customer Focus: Deliver exceptional service to brokers and insureds, ensuring timely and clear communication throughout the underwriting process.
- Compliance: Ensure all underwriting activities comply with company guidelines, regulatory requirements, and industry best practices.
- Additional Responsibilities: Perform other duties, as assigned, contributing to the overall success of the team and the company.
- Education: Bachelor’s degree in insurance, business, finance, or a related field. Professional designations such as CPCU, RPLU, or ARM are highly desirable.
- Experience: Minimum of 3 years of relevant industry experience, with a strong focus on excess and surplus lines and complex risk underwriting.
- Industry Knowledge: Deep understanding of the surplus lines marketplace, including peers, competitors, and market cycles.
- Analytical Skills: Strong analytical and decision-making skills, with the ability to assess risk and profitability in complex scenarios.
- Communication: Excellent verbal and written communication skills, with the ability to articulate underwriting decisions and rationale to brokers and internal stakeholders.
- Relationship Management: Proven ability to build and maintain strong relationships with brokers, insureds, and colleagues.
- Adaptability: Ability to thrive in a fast-paced, dynamic environment with a high degree of autonomy.
- Technical Skills: Proficiency in Microsoft Office Suite and underwriting software.
- Travel: Willingness to travel as needed, including a minimum of 2 broker visits per year.
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The company offers a competitive compensation plan and robust benefits package for full time regular employees.
The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment.