Binding Authority Underwriter
Binding Authority Underwriter
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$ 78750 - 85000
1 Vacancy
Job Description
Position Summary
The Binding Authority Underwriter is responsible for developing and maintaining the book of business by assessing and analyzing insurance risks determining coverage terms as per binding authority underwriting guidelines and building relationships with internal and external stakeholders. The role reviews and authorizes binding authority requests and ensures compliance with regulatory standards. They collaborate with brokers negotiate terms evaluate exposures and establish premium rates.What will your job entail
Job Responsibilities:
Assess and price renewals new business and endorsements according to guidelines outlined in the underwriting manual and within their authority level.
Select and/or verify class code and premium base and rating exposure.
Determine appropriate credits and/or debits to obtain a fair and sustained premium for risk.
Determine coverage forms and necessary endorsements.
Effectively communicate to broker quote conditions
Provide accurate documentation in the file and/or in electronic notes of underwriting thought process.
Ensure timely and accurate preparation for issuance of policies.
Order/review inspection reports to assess risk quality and to confirm exposure base accuracy.
Accurate and timely processing of endorsements.
Actively manage relationships with assigned brokers customers and members.
Ensure that information available from internal and external resources is properly integrated into underwriting decision making.
Ensure that referral guidelines are properly followed regarding all lines of business underwritten.
Conduct stewardship meetings and leads marketing activities. Establish and monitor the production pipeline of new business. Participate in industry conferences.
Drive a multi-disciplinary approach to understanding insureds risks. Collaborate with other underwriters and team members to gain a comprehensive understanding of the exposure and best means to provide coverage.
Work Experience and Education:
Bachelors degree required Masters degree preferred; Business Administration Risk Management preferred. Any other related discipline or commensurate work experience considered.
Minimum of 5 years of experience in Binding Authority and Insurance Underwriting with a Bachelors degree or 3 years of experience and a Masters degree.
Licenses & Certifications:
Prescribed: Minimum requirements for state P&C and/or surplus line licenses
Preferred: Certified Insurance Counselor (CIC) Chartered Property Casualty Underwriter (CPCU)
Skills:
Technical/Functional Skills:
Risk Evaluation
Guidance Adherence
Collaboration
Documentation
Marketing
Portfolio Management
Policy language
Data Analysis
Communication
Behavioral Skills:
Project Management
Group Presentations
Time Management
Event Marketing
Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race creed color religious beliefs physical or mental capabilities gender identity or expressionsexual orientation and many other characteristics bring together varied perspectives and add value to the service we provide our clients trading partnersand policy extends to all aspects of our employment practices including but not limited to recruiting hiring discipline firing promoting transferring compensation benefits training leaves of absence and other terms conditions and benefits of employment.
How We Support Our Teammates
Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them and their family members achieve their physical financial and emotional well-being goals. In addition to paid time off for company holidays vacation sick and personal days Ryan offers paid parental leave mental health services and more.
The target salary range for this position is $78750.00 - $85000.00 annually.The wage range for this role considers many factors such as training transferable skills work experience licensure and certification business needs and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards visit our website provide individuals with disabilities reasonable accommodations to participate in the job application or interview process to perform essential job functions and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at
The above is intended to describe this jobs general requirements. It is not to be construed as an exhaustive statement of duties responsibilities or physical requirements. Nothing in this job description restricts managements right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
Employment Type
Full-Time
