Senior Underwriter, Specialty Risk

4 weeks ago

Toronto, Ontario, Canada Definity Full time
Position Overview

The ideal candidate for this position will be responsible for delivering exceptional underwriting services for intricate accounts, particularly those with elevated hazard exposures. The Underwriter must comply with departmental protocols and operate within designated authority limits. Utilizing sound underwriting judgment will play a key role in maintaining a profitable portfolio within Specialty Lines.

Key Responsibilities:

  • Evaluate risks and make informed decisions on new business submissions, policy modifications, and renewals.
  • Conduct thorough analyses of risks that may lead to significant losses or frequent claims.
  • Underwrite business that falls outside the standard branch criteria.
  • Exercise advanced underwriting judgment honed through experience with high-exposure risks.
  • Request and assess inspections, financial documentation, location data, natural catastrophe exposures, and other rating instruments to inform risk assessment.
  • Negotiate risk acceptance terms and pricing at the highest level.
  • Manage high-risk segment accounts.
  • Additional responsibilities include engaging with brokers, supporting field underwriting efforts, participating in industry events, mentoring junior team members, and undertaking business development tasks as necessary.

Qualifications:

  • Proven expertise in commercial property risk assessment.
  • Strong proficiency in MS Excel.
  • In-depth knowledge of regional variations and coverage specifics across Canada.
  • A university degree or college diploma is required.
  • CIP designation is advantageous.
  • Extensive experience in underwriting a diverse range of risks is preferred.
  • Comprehensive understanding of regional differences and insurance regulations throughout Canada.
  • Experience with cross-border and multinational insurance placements.
  • Ability to quote new business, process policy changes, and manage renewals while upholding corporate service standards.
  • Skilled in broker negotiations, capable of rapidly establishing new relationships, and understanding the implications of insurer actions on brokers and their clients.
  • Excellent communication and organizational abilities.
  • Detail-oriented with strong analytical and problem-solving skills, capable of navigating complex information.
  • Familiarity with various insurance products is a plus.

Compensation range: $66,300 - $122,100

About Definity

Interested in this role but don't meet every requirement? We encourage you to apply. We recognize that candidates may not possess all qualifications listed but can still bring significant value to our team. We actively seek diverse backgrounds and perspectives to enhance our insurance offerings. At Definity, our commitment to inclusion, diversity, and equity is fundamental to our success.

Benefits:

  • Flexible hybrid work arrangements for most positions.
  • Participation in a company share ownership program.
  • Pension and savings plans with company-matched RRSP contributions.
  • Paid volunteer days and matching contributions for charitable donations.
  • Access to educational resources, tuition assistance, and paid study time for exams.
  • Focus on inclusion through employee groups, support for gender affirmation surgery, access to BIPOC counselors, and programs for working parents.
  • Wellness initiatives and recognition programs.
  • Discounts on various products and services.

Actual salary may vary based on the successful candidate's work location and other factors, including skills, education, experience, working conditions, and local labor market conditions. In addition to base salary, eligible employees may participate in various incentive plans, subject to individual and company performance.

Expect a lot — you deserve it.

Our inclusive work environment embraces diversity and promotes accessibility. If you require accommodations during the recruitment process, please inform us.

Background Checks:

This position requires successful completion of background checks, including criminal checks and leadership references.

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