Underwriter - Commercial Lines at Allied World in Iselin, New Jersey

Job Description:

Job Objectives:

The Underwriter-Product Recall & Food Contamination will be responsible for underwriting a complex book of business, employing the methods necessary to meet projected profitability, GWP, and expense goals, management and growth of the overall portfolio of business, implementing proper underwriting discipline/guidelines, marketing and servicing of existing and potential clients.  The position will be located in New York.

Duties and Responsibilities:

• Execute the business plan for the development of a Product Recall & Food Contamination portfolio.


• Prioritize and evaluate submissions in order to identify those accounts that provide the greatest opportunity for profit consistent with the business plan and corporate profit objectives.


• Evaluate terms and structures to meet corporate profitability targets.


• Price and analyze coverage, structure and exposures.


• Develop Broker Distribution platform.


• Authorize quotes/binders/invoices as appropriate.


• Attend client/broker meetings, lunches, dinners and other social outings as applicable.


• Negotiate with brokers and clients for new and renewal business.


• Exercise proper underwriting pricing and discipline to meet profitability goals, complying with underwriting guidelines, systems and procedures.


• Expand existing portfolio of business by developing existing relationships and new prospective clients.


• Monitor developments and cash-flow of bound contracts throughout period.


• Liaise with brokers, internal auditors and Claims, Accounting, IT and Legal departments as appropriate.


• Cross sell other Allied World products.


• Attend important industry conferences and seminars as appropriate.

• Ensure information is input into the in-house system in an accurate and timely manner

• Requirements:



• University degree desired.


• Professional designation such as CPCU, ACII or similar is desired


• 5-7 years material Product Recall & Food Contamination underwriting experience


• Established relationships with brokers/markets/companies.


• Successful track record in developing and maintaining reinsurance accounts.


• Excellent negotiation skills.


• Proficiency in Microsoft Office Suite (Excel, Word and PowerPoint).


• Excellent communication (both written and verbal) and interpersonal skills.


• Strong attention to detail and quantitative skills.


• Ability to work to deadlines and prioritize tasks.


• Ability and willingness to work outside normal office hours and travel as required.

Compensation:

The below annualized base pay range is a broad range based on analysis of similar positions in the market.  The actual base pay for the position may be above or below the listed range and determined by a number of considerations, including but not limited to complexity, location, and scope of the role, along with experience, skills, education, training, and other conditions of employment.  Base salary represents one component of Allied World’s comprehensive total reward package, which may also include annual incentive compensation rewards.

$80,000 - $100,000

Our Business

Allied World Assurance Company Holdings, Ltd, through its subsidiaries, is a global provider of insurance and reinsurance solutions. We operate under the brand Allied World and have supported clients, cedents and trading partners with thoughtful service and meaningful coverages since 2001. We are a subsidiary of Fairfax Financial Holdings, Limited and benefit from a strong capital base and a worldwide network of affiliated entities that allow us to think and respond in non-traditional ways.

Our generous benefits package includes: Health, Dental and Disability Insurance, a company match 401k plan, and Group Term Life Insurance. Allied World is an Equal Opportunity and Affirmative Action Employer.  All qualified applicants will be considered for employment without regard to an individual's race, color, national origin, religion or belief, sex, gender, gender identity, age, genetic information, marital or civil partnership status, family status, sexual orientation , military, veteran status, disability or any other characteristic protected by law.

To learn more, visit awac.com, or follow us on Facebook at facebook.com/alliedworld and LinkedIn at linkedin.com/company/allied-world