Senior Binding Authority Underwriter

4 weeks ago


Kansas City, Missouri, United States Ryan Specialty Full time
Job Summary

The Senior Binding Authority Underwriter is a critical role at Ryan Specialty, responsible for leveraging extensive industry knowledge and underwriting expertise to evaluate complex risks and negotiate terms. This position cultivates and maintains relationships with brokers and clients, optimizing risk portfolios and driving underwriting excellence.

Key Responsibilities

• Reviews and authorizes complex business submissions and new risks submitted by brokers, evaluating historical performance and determining the appropriate level of risk.
• Negotiates profitable binding terms while brokering complex risks to successfully negotiate a placement and deliver on underwriting targets.
• Determines the profitability of the premium amount and evaluates the possibility of losses due to catastrophe or excessive insurance.
• Demonstrates understanding of binding authority underwriting guidelines, best practices, and ensures compliance with regulatory and statutory policies and procedures.
• Creates, maintains, and updates the binding authority underwriting guidelines and examines and modifies policy language as needed.
• Develops strong, long-term relationships with brokers, agents, and fellow underwriters to deliver a profitable book of business.
• Develops and enhances understanding of taxation rules for different countries and ensures appropriate filing.
• Coaches new binding authority underwriters and enhances their technical expertise and insurance knowledge.

Requirements

• Minimum of 8 years of experience in Binding Authority and Insurance Underwriting with a Bachelor's degree, or 6 years of experience and a Master's degree.
• Bachelor's degree required, Master's degree preferred; Business Administration, Risk Management preferred. Any other related discipline or commensurate work experience considered.
• Prescribed: Minimum requirements for state P&C and/or surplus line licenses.
• Preferred: Certified Insurance Counselor (CIC), Chartered Property Casualty Underwriter (CPCU).
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