Senior Underwriter

4 weeks ago


Newark, Delaware, United States IAT Insurance Group Full time

Job Summary:

We are seeking a highly skilled Contract Surety Senior Underwriter to join our team at IAT Insurance Group. As a key member of our underwriting team, you will be responsible for handling daily interactions with assigned agents, gathering and analyzing information on accounts, and making recommendations to the Regional Manager.

Key Responsibilities:

  • Review initial submissions to determine additional information needed and initiate correspondence to obtain documentation.
  • Set up financial backer files for new accounts and maintain them, requesting updated information as necessary.
  • Advise the manager of significant negative developments or events and compose narratives for new accounts.
  • Analyze bond risk and underwriting requirements, determine the appropriate rate and indemnity, and make recommendations to the manager.
  • Maintain individual bond files, update underwriting information annually, and request information from agents as needed.
  • Perform reference checks, order and review credit reports, and analyze financial statements to ascertain key components and ratios.
  • Evaluate the need for additional measures to protect surety and discuss with the supervisor as needed.

Requirements:

  • Bachelor's degree in Risk Management, Finance, Mathematics, Business, or a related field with at least 4 years of contract surety underwriting experience or equivalent.
  • Ability to analyze financial statements and make recommendations on requests.
  • Strong marketing skills and ability to obtain new business and work with contractor clients.
  • Possess the ability to appropriately apply loss development and advanced loss analysis concepts to achieve optimal pricing of a risk.
  • Customer service oriented and have the utmost integrity.

Preferred Qualifications:

  • AFSB industry designation.

We offer a comprehensive benefits package, including 26 PTO days, 7% 401(k) company match, and numerous training and development opportunities. If you are a motivated and experienced underwriter looking for a new challenge, please submit your application.



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