Casualty Binders Underwriter

1 month ago

London, United Kingdom Gravitas Recruitment Group Full time

Job Purpose:

To underwrite and manage all facets of the Casualty Direct Binders account.

Detailed Duties:

  • Underwrite authorised class(es) of business in accordance with the business plan.
  • Ensure that all underwriting obtains the required return on capital.
  • Underwrite within agreed risk control framework including:
  • Individual risk limits as agreed under the underwriting authority matrix.
  • Aggregate limits as per latest agreed syndicate aggregate limits and all other controls as described in the latest version of the underwriting procedures manual.
  • Attend the box within Lloyd's during underwriting hours.
  • Liaise closely with the internal Claims Department and/or external claims adjusters as required.
  • Assessment of Loss ratio analysis for individual accounts.
  • Ensure underwriting files are of sufficient standard to ensure that effective Peer Review can be carried out and queries responded to within agreed SLA.
  • Ensure the Technical Premium and Rate Movement is entered for every risk.

Compliance

  • Ensure compliance with broker security requirements. Check that individual brokers adhere to their individual credit limits and that a TOBA is in place prior to quoting business with an unauthorised broker.
  • Ensure compliance with Lloyds licencing requirements.
  • Assist with completion of sanctions checks.
  • Completion of annual compliance training.
  • Compliance bulletin review and action, where required.
  • Ensure that Downgrade Clauses comply with the syndicates Down Grade Clause Policy.

Administration

  • Ensure that the account administration is at all times up to date for relevant class(es), including responding to queries raised by Administrators promptly.
  • Work closely with Assistants and accept overall responsibility for administration.
  • Ensure Claims data discrepancies between submission are reported.

Facultative Reinsurance Purchasing

  • Ensure that the purchasing of facultative reinsurance is done so in accordance with the RI purchase procedures.
  • Ensure that any agreed endorsements that could affect the facultative reinsurance programme are notified to the reinsurance team.
  • Work closely with the Reinsurance Department to ensure all cover notes are logged onto the system and to ensure overall compliance with the latest Reinsurance procedures.

Aggregates

  • Check that there is available aggregate prior to quoting.
  • Ensure that all aggregate information is recorded at the required level of detail.

Attendance

  • Attendance at the monthly underwriter meetings.
  • Attendance at monthly Claims meetings.

Credit Control

  • Manage the credit control issues for the class(es) including close liaison with Assistant Underwriters, Capita and brokers.

Management

  • Manage, motivate, and where necessary discipline subordinate members of staff.
  • Participate in relevant internal committees.
  • Ensure all senior staff are kept appraised of market issues and conditions.

Marketing

  • Develop and maintain relationships with key brokers within the insurance market.
  • Develop and maintain relationships with clients.

Working Knowledge of Systems

  • Crystal/Lloyds QA Tool.
  • S2000 (Subscribe).
  • Swordfish.
  • GAAP

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