Ryan Specialty
Senior Binding Authority Underwriter
Ryan Specialty, Kansas City, Missouri, United States, 64101
Position Summary
The Senior Binding Authority Underwriter is responsible for leveraging extensive industry knowledge and underwriting expertise to evaluate complex risks, negotiate terms, and bind complex coverage agreements. The role cultivates and maintains relationships with brokers and clients and optimizes risk portfolios. They drive underwriting excellence, review and authorize binding authority requests, provide strategic guidance, and ensure compliance with regulatory standards.
What will your job entail?
Responsibilities:
Reviews and authorizes complex business submissions and new risks submitted by brokers, evaluates historical performance, and determines appropriate level of risk.
Negotiates profitable binding terms while brokering complex risks to successfully negotiate a placement and delivers on underwriting targets.
Determines the profitability of the premium amount and seeks to evaluate possibility of losses due to catastrophe or excessive insurance.
Demonstrates understanding of binding authority underwriting guidelines, best practices and ensures compliance with regulatory and statutory policies and procedures.
Creates, maintains, and updates the binding authority underwriting guidelines and examines and modifies policy language as needed.
Develops strong, long-term relationships with brokers, agents, and fellow underwriters to deliver a profitable book of business.
Develops and enhances understanding of taxation rules for different countries and ensures appropriate filing.
Coaches new binding authority underwriters and enhances their technical expertise and insurance knowledge.
Work Experience:
Minimum of 8 years of experience in Binding Authority and Insurance Underwriting with a Bachelor’s degree, or 6 years of experience and a Master’s degree.
Education:
Bachelor’s degree required, Master’s degree preferred; Business Administration, Risk Management preferred. Any other related discipline or commensurate work experience considered.
Licenses and Certifications:
Prescribed: Minimum requirements for state P&C and/or surplus line licenses
Preferred: Certified Insurance Counselor (CIC), Chartered Property Casualty Underwriter (CPCU)
Compensation:
The target salary range for this position is $108,400.00 - $142,275.00 annually. The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits.
We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at
HR@Ryansg.com .
The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
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The Senior Binding Authority Underwriter is responsible for leveraging extensive industry knowledge and underwriting expertise to evaluate complex risks, negotiate terms, and bind complex coverage agreements. The role cultivates and maintains relationships with brokers and clients and optimizes risk portfolios. They drive underwriting excellence, review and authorize binding authority requests, provide strategic guidance, and ensure compliance with regulatory standards.
What will your job entail?
Responsibilities:
Reviews and authorizes complex business submissions and new risks submitted by brokers, evaluates historical performance, and determines appropriate level of risk.
Negotiates profitable binding terms while brokering complex risks to successfully negotiate a placement and delivers on underwriting targets.
Determines the profitability of the premium amount and seeks to evaluate possibility of losses due to catastrophe or excessive insurance.
Demonstrates understanding of binding authority underwriting guidelines, best practices and ensures compliance with regulatory and statutory policies and procedures.
Creates, maintains, and updates the binding authority underwriting guidelines and examines and modifies policy language as needed.
Develops strong, long-term relationships with brokers, agents, and fellow underwriters to deliver a profitable book of business.
Develops and enhances understanding of taxation rules for different countries and ensures appropriate filing.
Coaches new binding authority underwriters and enhances their technical expertise and insurance knowledge.
Work Experience:
Minimum of 8 years of experience in Binding Authority and Insurance Underwriting with a Bachelor’s degree, or 6 years of experience and a Master’s degree.
Education:
Bachelor’s degree required, Master’s degree preferred; Business Administration, Risk Management preferred. Any other related discipline or commensurate work experience considered.
Licenses and Certifications:
Prescribed: Minimum requirements for state P&C and/or surplus line licenses
Preferred: Certified Insurance Counselor (CIC), Chartered Property Casualty Underwriter (CPCU)
Compensation:
The target salary range for this position is $108,400.00 - $142,275.00 annually. The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits.
We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at
HR@Ryansg.com .
The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
#J-18808-Ljbffr