Underwriter - Subcontractor Default Insurance

Company: Liberty Mutual Insurance
Location: Baltimore
Posted on: March 20, 2023

Job Description:

Location of position is flexible and should be based near a major airport to accommodate travel needs. Level of position and compensation based on location and experience. Reviews new and existing Subcontractor Default Insurance (SDI) risks submitted by assigned product line underwriters to confirm compliance with Liberty Mutual Surety`s underwriting strategies, guidelines and marketing objectives. Utilizes objective perspective to identify omissions in underwriting detail, if any, confirm attributes and/or weaknesses, and make recommendations to the underwriter, with primary objective of achieving profitability for the department. Supports underwriters with underwriting efficiencies, process, and deficiencies and makes recommendations to more senior staff / manager, as applicable.Liberty Mutual Surety, a business unit of Liberty Mutual Insurance, is the worlds largest global Surety, including in the United States. Conducting business worldwide through fronting relationships and Liberty-owned subsidiaries, we provide bonds in over 60 countries for construction firms, manufacturers and suppliers, and commercial enterprises on an account and transactional basis. We are committed to building mutually profitable relationships by providing smart business solutions, ease of doing business, and consistent, responsive service. Liberty Mutual Surety is dedicated to the communities we serve and highly values a diverse workforce in more than 16 countries.Responsibilities

• With some guidance from senior staff / manager, supports the underwriting of new and existing SDI account submissions of virtually all sizes and complexities utilizing underwriting authority granted by Chief Underwriting Officer.
• Makes thorough evaluations and assessments of account's operational, financial, technical, organizational, and management capacities as well as a subjective judgment of character, normally based upon data/insights provided by the field organization only.
• May meet with the client to facilitate the above assessments. Monitors existing books of business from an underwriting standpoint, as assigned.
• Continuously evaluates the qualitative characteristics of new and existing SDI accounts. Assesses and identifies changes in all aspects of the business including culture, work program, operational controls, subcontractor prequalification and management, financial strength criteria, nature of work performed (inherent risk), accuracy and timeliness of data flow, and exposure analyses.
• Coordinates and surfaces issues to more senior staff / manager on a regular and timely basis. As directed by more senior staff / manager, monitors marketing, underwriting, and administrative issues, as assigned. Will provide underwriting support and direction.
• Effectively communicates issues of concern on new and existing business to the applicable underwriter, as necessary. Diligently and conscientiously pursues resolution of open issues, documents end result, and makes recommendations for adjustments to parameters extended to specific accounts based on such facts. In connection with policy parameter recommendations which fall outside of normal underwriting standards, applies sound reason and business logic to reach a decision.
• Effectively documents such logic in file and communicates to more senior staff / manager, as necessary.
• Effectively collaborates with Claims staff to evaluate and resolve claim issues expeditiously and effectively. Keeps more senior underwriting staff / manager informed of claims issues. Utilizes various systems, applications, tools, dashboards, and data to monitor the quality of existing business. Inputs data on accounts to complete or modify analyses.
• Participates in special projects as requested/assigned.

Keywords: Liberty Mutual Insurance, Baltimore , Underwriter - Subcontractor Default Insurance, Other , Baltimore, Maryland