Casualty Binders Underwriter

3 weeks ago


London, Greater London, United Kingdom Gravitas Recruitment Group Full time
Job Purpose:

To underwrite and manage all facets of the Casualty Direct Binders account, ensuring compliance with business plans and risk control frameworks.

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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