Munich Reinsurance America, Inc
Munich Re Specialty Global Markets North America (MRSGM N.A.) is looking for enthusiastic individuals to join us as we grow. As part of Munich Re Group, we are a unique organization providing expertise in specialty and marine lines of insurance as well as surety risks and customs bonds with in‑house claims solutions.
We are seeking a full‑time Underwriter, Cyber & Tech to join the Munich Re Specialty Group Insurance Services division to be a hybrid employee in our Schaumburg, IL office location reporting to Steve Pacheco, VP, Head of Cyber.
This is an opportunity to join a national Cyber Insurance Underwriting team in the US market – underwriting as a coverholder for Munich Re Lloyd's syndicate – delivering cross‑industry and sector (SME/Mid‑Market/Risk Management) Tech E&O and standalone cyber insurance and risk mitigation solutions to clients in North America.
Job Profile
Underwriting a book of Tech E&O, Cyber and related products in the US that include Technology Errors & Omissions and Stand‑alone Cyber
Responsible for managing an existing renewal book of business and developing new business production and broker relationships
Maintaining a broad network of brokerage and client relationships
Determining terms, conditions and complex rating plans
Collaborate with team members to discuss a strategy on more complex risks
Participate in industry events and networking opportunities to build relationships and enhance knowledge of the cyber insurance market.
Documenting underwriting files
Servicing accounts throughout the policy cycle
In conjunction with Munich Re syndicate and actuarial resources, support current and future development of rating platforms
Interacting closely with 3rd party providers for the service delivery and security monitoring and/or tools to ensure assets are being protected for our customers
Analyze applications for cyber insurance coverage, evaluating the risk exposure of potential clients
Conduct thorough risk assessments and audits to determine the eligibility and terms of coverage for cyber insurance policies
Collaborate with brokers and agents to gather necessary information and clarify underwriting requirements
Stay informed about the latest trends, threats, and regulatory changes in the cybersecurity landscape to make informed underwriting decisions
Monitor and analyze claims data to identify trends and refine underwriting criteria accordingly
Job Requirements
Minimum of 3 years of professional lines/specialty insurance/risk management knowledge, ideally with a strong familiarity with Tech E&O, and cyber risks
Bachelor's degree required. Advanced degree or certifications strongly preferred
A strong understanding of best practices in Cyber security - including, layered security architecture; internet protocols; firewalls; VPN technologies, anti‑virus and spam technologies; risk and vulnerability assessments, compliance
Experience with threat awareness and detection tools & techniques, and incident response plans
Knowledge and understanding of relevant legal, regulatory and privacy requirements, such as Personally Identifiable Information (PII) Protection and Payment Card Industry (PCI)/Data Security Standard. Prefer knowledge of privacy regulations and standards such as the CCPA, EU GDPR, GLBA, HIPAA, VPPA
Proven track record as a technical underwriter or broker
Demonstrate high level of technical expertise and product specific (Tech E&O) knowledge
Innovative thinker offering creative product ideas
Strong interpersonal communication and negotiation skills
Ability to effectively interact with all levels of internal and external business partners
Strong track record of working with brokers and clients, fostering strong relationships, and developing new distribution channels
Entrepreneurial thinking
Ability to travel
MRSGM N.A. is open to considering candidates in numerous locations, including Schaumburg, IL. The salary range posted below applies to the Company’s Schaumburg, IL location. The base salary range anticipated for this position is $75,000 to $110,000. In addition, the Company makes available a variety of benefits to employees, including health insurance coverage, life and disability insurance, 401k match, paid holidays, sick time, and paid vacation. The salary estimate displayed represents the typical salary range for candidates hired in this position in Schaumburg, IL. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.
About Us MRSGM N.A. is the holding company for Roanoke Insurance Group (RIG) and Munich Re Specialty Group Insurance Services (SIS) located throughout 7 locations in the United States and Canada with over 250 employees.
SIS provides insurance to retail and wholesale insurance brokers in North America. Specialty lines include ocean and inland marine, cyber, tech E&O, terrorism, active assailant & political violence.
RIG operates as a specialty insurance broker focused on surety, insurance and related offerings for logistics service providers, customs brokers and companies with supply chains.
Benefits
Generous healthcare plans
Voluntary dental & vision plans
401(k) plan
Flexible spending plans
Health Savings Accounts (HSA)
Paid time off
Paid holidays
Tuition reimbursement
Short/long term disability
Paid Parental Leave
Employee Assistance Program (EAP)
Employee Wellbeing Program
Community involvement
Life insurance
At MRSGM N.A., individuality is a key driver for our success and progress. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we're committed to building an inclusive culture where everyone is welcomed and valued for their authentic selves.
We offer equal opportunity employment regardless of age, sex, race, color, creed, national origin, religion, veteran status, sexual orientation, atypical hereditary traits, marital status, disability, gender identity or expression, or any other characteristic protected by law. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Applicants requiring employer sponsorship of a visa will not be considered for this position.
California applicants, please review our CA Privacy Statement at: https://www.roanokegroup.com/career-opportunities/
#J-18808-Ljbffr
We are seeking a full‑time Underwriter, Cyber & Tech to join the Munich Re Specialty Group Insurance Services division to be a hybrid employee in our Schaumburg, IL office location reporting to Steve Pacheco, VP, Head of Cyber.
This is an opportunity to join a national Cyber Insurance Underwriting team in the US market – underwriting as a coverholder for Munich Re Lloyd's syndicate – delivering cross‑industry and sector (SME/Mid‑Market/Risk Management) Tech E&O and standalone cyber insurance and risk mitigation solutions to clients in North America.
Job Profile
Underwriting a book of Tech E&O, Cyber and related products in the US that include Technology Errors & Omissions and Stand‑alone Cyber
Responsible for managing an existing renewal book of business and developing new business production and broker relationships
Maintaining a broad network of brokerage and client relationships
Determining terms, conditions and complex rating plans
Collaborate with team members to discuss a strategy on more complex risks
Participate in industry events and networking opportunities to build relationships and enhance knowledge of the cyber insurance market.
Documenting underwriting files
Servicing accounts throughout the policy cycle
In conjunction with Munich Re syndicate and actuarial resources, support current and future development of rating platforms
Interacting closely with 3rd party providers for the service delivery and security monitoring and/or tools to ensure assets are being protected for our customers
Analyze applications for cyber insurance coverage, evaluating the risk exposure of potential clients
Conduct thorough risk assessments and audits to determine the eligibility and terms of coverage for cyber insurance policies
Collaborate with brokers and agents to gather necessary information and clarify underwriting requirements
Stay informed about the latest trends, threats, and regulatory changes in the cybersecurity landscape to make informed underwriting decisions
Monitor and analyze claims data to identify trends and refine underwriting criteria accordingly
Job Requirements
Minimum of 3 years of professional lines/specialty insurance/risk management knowledge, ideally with a strong familiarity with Tech E&O, and cyber risks
Bachelor's degree required. Advanced degree or certifications strongly preferred
A strong understanding of best practices in Cyber security - including, layered security architecture; internet protocols; firewalls; VPN technologies, anti‑virus and spam technologies; risk and vulnerability assessments, compliance
Experience with threat awareness and detection tools & techniques, and incident response plans
Knowledge and understanding of relevant legal, regulatory and privacy requirements, such as Personally Identifiable Information (PII) Protection and Payment Card Industry (PCI)/Data Security Standard. Prefer knowledge of privacy regulations and standards such as the CCPA, EU GDPR, GLBA, HIPAA, VPPA
Proven track record as a technical underwriter or broker
Demonstrate high level of technical expertise and product specific (Tech E&O) knowledge
Innovative thinker offering creative product ideas
Strong interpersonal communication and negotiation skills
Ability to effectively interact with all levels of internal and external business partners
Strong track record of working with brokers and clients, fostering strong relationships, and developing new distribution channels
Entrepreneurial thinking
Ability to travel
MRSGM N.A. is open to considering candidates in numerous locations, including Schaumburg, IL. The salary range posted below applies to the Company’s Schaumburg, IL location. The base salary range anticipated for this position is $75,000 to $110,000. In addition, the Company makes available a variety of benefits to employees, including health insurance coverage, life and disability insurance, 401k match, paid holidays, sick time, and paid vacation. The salary estimate displayed represents the typical salary range for candidates hired in this position in Schaumburg, IL. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.
About Us MRSGM N.A. is the holding company for Roanoke Insurance Group (RIG) and Munich Re Specialty Group Insurance Services (SIS) located throughout 7 locations in the United States and Canada with over 250 employees.
SIS provides insurance to retail and wholesale insurance brokers in North America. Specialty lines include ocean and inland marine, cyber, tech E&O, terrorism, active assailant & political violence.
RIG operates as a specialty insurance broker focused on surety, insurance and related offerings for logistics service providers, customs brokers and companies with supply chains.
Benefits
Generous healthcare plans
Voluntary dental & vision plans
401(k) plan
Flexible spending plans
Health Savings Accounts (HSA)
Paid time off
Paid holidays
Tuition reimbursement
Short/long term disability
Paid Parental Leave
Employee Assistance Program (EAP)
Employee Wellbeing Program
Community involvement
Life insurance
At MRSGM N.A., individuality is a key driver for our success and progress. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we're committed to building an inclusive culture where everyone is welcomed and valued for their authentic selves.
We offer equal opportunity employment regardless of age, sex, race, color, creed, national origin, religion, veteran status, sexual orientation, atypical hereditary traits, marital status, disability, gender identity or expression, or any other characteristic protected by law. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Applicants requiring employer sponsorship of a visa will not be considered for this position.
California applicants, please review our CA Privacy Statement at: https://www.roanokegroup.com/career-opportunities/
#J-18808-Ljbffr