Ryan Specialty
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 lead 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
Bachelor’s degree required, Master’s 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 Bachelor’s degree, or 3 years of experience and a Master’s 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 organization. Our policy extends to all employment practices. The target salary range for this position is $78,750.00 - $78,750.00 annually. The wage range for this role considers 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 https://benefits.ryansg.com/. Please contact us to request an accommodation at HR@Ryansg.com. The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's 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.
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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 lead 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
Bachelor’s degree required, Master’s 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 Bachelor’s degree, or 3 years of experience and a Master’s 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 organization. Our policy extends to all employment practices. The target salary range for this position is $78,750.00 - $78,750.00 annually. The wage range for this role considers 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 https://benefits.ryansg.com/. Please contact us to request an accommodation at HR@Ryansg.com. The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's 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.
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