Senior PI Underwriter

at  Starr Companies

Starr Insurance Companies is a leading insurance and investment organization, providing commercial property and casualty insurance, including travel and accident coverage, to almost every imaginable business and industry in virtually every part of the world.
Cornelius Vander Starr established his first insurance company in Shanghai, China in 1919. Today, we are one of the world’s fastest growing insurance organizations, capable of writing in 128 countries on 6 continents.

Roles & Responsibilities

• Fully understand the risk and seek further clarity as required.
• Underwrite profitable business in accordance with business plans.
• Adhere to all Starr underwriting standards as outlined in the Underwriting Manual.
• Obtain sign-off for all business that is in excess of agreed authority levels or where any factor falls below rating guidelines.
• Adhere to rating tools and guidelines.
• Ensure that underwriting documentation, both paper and electronic, are accurate, complete, up-to-date and meet Lloyd’s standards.
• Ensure that the policy wordings and clauses are slip referenced and agreed.
• Ensure that all accounts are contract certain at time of binding.
• Develop broker and client relationships to optimise opportunities to lead business, arranging or attending regular meetings, presentations and events.
• Seek to grow market share by increasing awareness of technical expertise with outside parties.
• Explore client and company knowledge to identify and optimise cross-selling opportunities.
• Conduct Peer Reviews to check the underwriting rationale, terms and conditions, pricing against Starr guidelines and the completeness of files.
• Oversee that business retained within the portfolio continues to provides commercial advantage
• Assist in the preparation of Realistic Disaster Scenarios (RDS) returns to determine effectiveness of reinsurance coverage against business.
• Review Internal Audits and Expert Review Reports to identify and implement improvements.
• Manage aggregations / accumulations of joint venture interests.
• Support the CUO in producing a Professional Indemnity business strategy for approval by the Active Underwriter and the Board.
• Assist the CUO in producing a clear, coherent underwriting strategy.
• Implement the strategies within the agreed business plan.
• Determine appropriate levels of underwriting authority for each Underwriter.
• Provide raw data to the CUO to inform the reinsurance strategy.
• Conduct/attend appropriate marketing meetings/presentations with reinsurers.
• Monitor reinsurance coverage against the business plan, in association with the CUO.
• Together with the CUO, ensure adequate resource and capability to deliver the business plan and strategic objectives.

Experience

• Advanced class experience an an Underwriter/Broker
• Understanding of Lloyd’s and London Market processing arrangements for premiums and claims;
• Understanding of market wordings and clauses;
• Up-to-date knowledge of claims activity and handling to inform future underwriting decisions.

Starr is an equal opportunity employer, which means we’ll consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we’re committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.

• Fully understand the risk and seek further clarity as required.
• Underwrite profitable business in accordance with business plans.
• Adhere to all Starr underwriting standards as outlined in the Underwriting Manual.
• Obtain sign-off for all business that is in excess of agreed authority levels or where any factor falls below rating guidelines.
• Adhere to rating tools and guidelines.
• Ensure that underwriting documentation, both paper and electronic, are accurate, complete, up-to-date and meet Lloyd’s standards.
• Ensure that the policy wordings and clauses are slip referenced and agreed.
• Ensure that all accounts are contract certain at time of binding.
• Develop broker and client relationships to optimise opportunities to lead business, arranging or attending regular meetings, presentations and events.
• Seek to grow market share by increasing awareness of technical expertise with outside parties.
• Explore client and company knowledge to identify and optimise cross-selling opportunities.
• Conduct Peer Reviews to check the underwriting rationale, terms and conditions, pricing against Starr guidelines and the completeness of files.
• Oversee that business retained within the portfolio continues to provides commercial advantage
• Assist in the preparation of Realistic Disaster Scenarios (RDS) returns to determine effectiveness of reinsurance coverage against business.
• Review Internal Audits and Expert Review Reports to identify and implement improvements.
• Manage aggregations / accumulations of joint venture interests.
• Support the CUO in producing a Professional Indemnity business strategy for approval by the Active Underwriter and the Board.
• Assist the CUO in producing a clear, coherent underwriting strategy.
• Implement the strategies within the agreed business plan.
• Determine appropriate levels of underwriting authority for each Underwriter.
• Provide raw data to the CUO to inform the reinsurance strategy.
• Conduct/attend appropriate marketing meetings/presentations with reinsurers.
• Monitor reinsurance coverage against the business plan, in association with the CUO.
• Together with the CUO, ensure adequate resource and capability to deliver the business plan and strategic objectives