Account Underwriter

Overview

FM Affiliated member of the FM Group, specializing in monoline commercial property insurance for business and industry with a focus on high quality “middle market” clientele. FM Affiliated is looking for an Account Underwriter to join the Chicago Operations located in Park Ridge, IL. This is a unique opportunity to provide underwriting support for a dynamic team, helping to maintain and grow a profitable portfolio of business consistent with FM Affiliated policies, business strategies and objectives.

This position is accountable for providing assistance to one or more Production Underwriters in developing and maintaining a profitable portfolio of business, consistent with Corporate/Affiliated FM policies, business strategies and objectives. Responsibilities may also include full production underwriter accountabilities for an assigned portfolio of business or the assignment of special projects or technical data management accountabilities. This is accomplished through the performance of underwriting and account/broker servicing activities.

This involves working closely with Production Underwriters in the development and retention of quality new and renewal business, primary accountability for handling all mid-term policy changes within delegated authority, and providing excellent and responsive service that adds value to our broker and customer relationships. An Account Underwriter is a strong team player working with Production Underwriters, Account Engineers, Account Administrators, Claims and other personnel that has demonstrated decision-making skills and shows initiative in all areas of accountability.

Responsibilities

• Work closely with the Production Underwriter on all aspects needed to develop new business and retain a profitable book of renewal business through the application of sound underwriting principles and creative use of underwriting and engineering resources to effectively analyze and select risk. Review/evaluate prospect file information to ensure all needed information is available, and obtain any missing material, as needed. This would include financial information, appropriate loss experience, engineering information and adequacy of values. As required, complete initial pre-screening with the broker to determine prospect viability.
• Complete an account history including rate, loss experience, changes, underwriting spreadsheets, etc. for renewals as assigned. Work closely with the Account Engineer to determine desirability of the risk, and the nature and level of loss prevention activity needed on an account. Complete an initial location level evaluation of allowable net capacity and an account risk analysis including verification of cross liability. Recognize and communicate broker and customer needs to Production Underwriter and participate in the development of prospect and customer strategies.
• Work with the Production Underwriter to establish coverage, pricing, terms and conditions and place reinsurance, as directed. Prepare proposal for review by Production Underwriter and make any subsequent changes as directed. Negotiate terms on new and renewal business with brokers and reinsurers, as directed. Conduct thorough policy review for Underwriter signature prior to mailing to ensure conformance with final proposal.
• Provide responsive service to our broker and customer base that supports our commitment to transactional speed and ease of doing business. Respond to brokers on all requests for mid-term policy changes completing the underwriting process subject to individual authority. Work with Account Administrators to ensure submissions, proposals, policies, endorsements and billing are handled expeditiously with documentation delivered in an accurate and timely fashion to meet company standards.  Respond to broker and customers questions and requests for information.
• Represent FM Affiliated in the marketplace by developing contacts and maintaining positive relations with assigned brokers, reinsurers and customers. Execute all company practices and procedures for this position and implement an annual business plan in accordance with established company objectives and time frames. Maintain a working knowledge of company standards, processes, systems and procedures, loss prevention engineering practices, policy wordings, product and service offerings. Develop and maintain positive relationships with broker contacts and approved facultative reinsurers. Participate at local insurance community events.
• Serve as the primary resource for all internal requests for information, data, and reporting and undertake special projects, as assigned. Develop and maintain positive relations with internal personnel in various Operations and Home Office Departments. Respond to all internal requests for verification of loss information. Prepare information and development statistics for management reports.
• If assigned by the Manager: Assume full production underwriter responsibility (per production underwriter job description) to independently underwrite and provide ongoing service on an assigned book of business. Handle special projects or technical data management accountabilities.

Qualifications

• High School diploma or equivalent. An Accounts degree or College degree preferred
• 2 - 5 years FM Global experience or 5 years of combined higher education and industry experience (broker/insurance company) working with internal and external customers.

• Strong written and oral communication skills

• Team oriented

• Efficient time management skills

• Problem solving skills

• Computer / Technology proficient, with advanced Excel proficiency

• Working knowledge of our business including an understanding of risk identification and assessment, as well as property insurance coverages

• Potential ability to establish a network of property producers and industry contacts

The final salary offer will vary based on geographic location, individual education, skills, and experience. The position is eligible to participate in FM Global’s comprehensive Total Rewards program that includes an incentive plan, generous health, and well-being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work, time off allowances and much more.

FM Global is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.