Underwriter

2 months ago


Brandon, Canada Manitoba Public Insurance Full time
Overview

As the Underwriter, you will develop and acquire the skills and abilities required to independently and effectively underwrite policies within a prescribed authority limit. You will be responsible for underwriting scheduled and fleet Basic Automobile policies while acquiring the skills and abilities to underwrite complex policies such as transportation package policies, which includes scheduled and fleet policies. You will become proficient at analyzing, reviewing and making decisions on underwriting risks presented to them. You will also provide claims confirmations to the Service Centres, verifying coverage and sharing required details to facilitate the settlement of claims.

Responsibilities

Applications and Renewals

  • Assess and evaluate new and existing business, accept and decline submissions, and prepare proposal quotes (including premium) of a moderately complex to complex nature.
  • Ensure risk meets the underwriting standards. When standards are not being met, apply appropriate underwriting action.
  • Exercise full independent underwriting authority on new applications and renewals for moderately complex to complex policies.
  • Secure the appropriate approval on underwriting quotes before release to the broker.
  • Support the underwriting process for new applications and renewals for more senior level policies.
  • Seek pricing from Reinsurance Markets and quote costs to brokers within established reinsurance guidelines. Completes reinsurance Bordereaux as per guidelines.
  • Administer and monitor underwriting procedures and guidelines and insurance laws and regulations.

Mid-Term Policy Changes

  • Ensure that the request meets the underwriting standards. When standards are not being met, apply appropriate underwriting action.
  • Administer letters of brokerage. Provide interpretation of requirements to
  • Issue certificates of insurance.
  • Review and accept / reject / modify broker-issued certificates of insurance as required.
  • Seek pricing from Reinsurance Markets and quote costs to brokers within established reinsurance guidelines. Complete reinsurance Bordereaux as per guidelines.
  • Make decisions and processes all forms of policy endorsements, cancellation, and reinstatement requests.
  • Participate in issuing and/or canceling filings and bonds.
  • Maintain direct responsibility for collection and processing of gross revenue / vehicle reports.
  • Confirm coverage for claims on all types of policies. Record claims occurring in the U.S.A. in the appropriate Bordereaux and also records claims that have out-of-province plates on them in the Economical Mutual Bordereaux if Economical pink cards have been issued for the automobile involved.
  • Update and make all changes to self-insured retention policy reports to ensure the report has current information. Reports may be completed on a monthly or quarterly basis. Calculate losses and the amount to bill the insured for the self-insured retention portion.
  • Send self-insured retention policy reports by email to broker, ensuring adherence to strict timelines due to time sensitivity.
  • Respond to inquiries from brokers, adjusters, insureds, internal accounting departments, Motor Carrier Division – Safety Program, Fair Practices and Customer Relations, MPI staff, and Transportation Safety Board of Canada. Provides any follow-up that may be required.
  • Complete Retail Sales Tax forms as required.
  • Attend meetings as required, including daily workflow and monthly departmental meetings.
  • May provide guidance on specific tasks to the administrative support team as required.
  • Complete special assignments as requested by the SRE leadership team.
Qualifications
  • High school diploma or equivalent.
  • Three courses from the Chartered Insurance Professional (CIP) program.

OR

  • Diploma in business administration, commerce or related discipline.
  • Two years of office or customer service experience.
  • Experience in the insurance industry is an asset.
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