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Senior Underwriter

Company: Pennsylvania Lumbermens Mutual Insurance Company
Location: Denver
Posted on: November 22, 2021

Job Description:

This position requires a goal-oriented individual to work in tandem with our field representatives to produce, and retain, profitable underwriting accounts. Receives functional policy direction and guidelines from the Manager or Assistant Vice President and operates within policies and guidelines established by underwriting management. Provides work direction to the Commercial Lines Underwriting Assistant or Operations personnel as required, but does not supervise them.Essential Functions and Responsibilities:1. Review applications for class acceptability, completeness (request additional info, if appropriate), and risk acceptability2. Evaluate classification for accuracy3. Coordinate pricing with the broker and Field Representative by determining expiring price as well as target price and who is competition. Obtain commitment from broker regarding account placement if we meet the target price4. Develop any additional underwriting information necessary to determine risk acceptability and if appropriate, have a tentative quotation developed. It is acceptable to quote "subject to ---". Additional information might include more detailed loss information, a Technical Services report, financial information, MVRs, etc.5. Coordinate quotation's release with the Field Representative.6. Establish a diary on the quotation for follow up with broker to ascertain initial acceptability, rediary for follow up prior to effective date to ascertain our success and, if appropriate, consider last minute revisions.7. Refer risks exceeding underwriting authority with a recommended handling action to the Underwriting Manager.8. Process all quotations by broker's "need by" date.Renewals:1. Review file for completeness of underwriting information and, if necessary, coordinate/obtain any missing or incomplete information.2. Contact broker and implement the renewal retention program as outlined under separate cover. 3. Complete a loss analysis.4. Evaluate most recent Technical Service information; if necessary obtain updated or new report. Confirm status of recommendations that are outstanding (or may be).5. Make renewal decision, i.e. renew (and, if so, at what price) or non-renew. Do not assume that because the risk is on the books it is a good risk. Underwrite it! Confirm that renewal pricing will support past loss experience. Consider the frequency/severity issues. Consider whether changes in coverage are appropriate for renewal, i.e. increase deductibles, elimination of certain coverages, etc.6. Confirm policy construction issues.7. Involve Underwriting Manager as appropriate.8. Process all renewals at least 30 days prior to effective date unless the broker or insured delays processing by withholding informationEndorsements:1. Review requests for completeness of information.2. Evaluate request for acceptability.3. Consider any pricing issues.4. Process all endorsement requests within 10 days of receipt.Special Issues - Motor Vehicle Reports:1. Verify drivers' list is complete including full names, dates of birth, drivers' license numbers and, states of licensing. Underwrite this information in light of the risk you are reviewing.2. Order MVRs. Reunderwrite driver information once the MVRs are available3. Ensure compliance with Fair Credit Reporting Act.Loss Information:1. Develop detailed loss information by reviewing hard copy from prior carriers. It is appropriate to quote subject to satisfactory loss information after binding. In this case, loss info could be based on broker's memo or a memo from the insured outlining information. Underwrite this information. Follow up for hard copy post binding. Confirming it supports pricing. Consider closely frequency/severity trends, consider appropriate controls.Policy Construction:1. Ensure that appropriate forms are included on all contracts.Mail:1. Review and handle within 72 hours of receipt.Telephone:1. Respond to all telephone calls on the same day as received. If you make a commitment to handle something by a certain date and you are unsuccessful in doing so, advise customer of failure to do so and reason as well as new target date.Job Type: Full-timePay: $75,000.00 - $95,000.00 per yearBenefits:

  • 401(k)
  • 401(k) matching
  • Dental insurance
  • Disability insurance
  • Employee assistance program
  • Flexible schedule
  • Flexible spending account
  • Health insurance
  • Health savings account
  • Life insurance
  • Paid time off
  • Parental leave
  • Professional development assistance
  • Retirement plan
  • Tuition reimbursement
  • Vision insuranceSchedule:
    • Monday to FridaySupplemental Pay:
      • Bonus payExperience:
        • Property & Casualty Insurance: 5 years (Preferred)Work Location:
          • Multiple locationsWork Remotely:
            • Yes

Keywords: Pennsylvania Lumbermens Mutual Insurance Company, Denver , Senior Underwriter, Other , Denver, Colorado

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