POSITION SUMMARY
The (Remote) Commercial Insurance Underwriter evaluates submitted Commercial applications to determine risk acceptability.
They will handle all transactions related to Commercial insurance submissions including the classification of these risks used for policy rating.
This person assures that risks meet the FAIR Plan’s eligibility and underwriting requirements by continuous adherence to established underwriting standards.
This is a virtual position for CA residents only, and may require occasional travel to our corporate office in Los Angeles.
PRINCIPAL DUTIES & RESPONSIBILITIES:
Reviews new business Commercial insurance applications for eligibility and completeness based on FAIR Plan underwriting requirements.
Reviews policy contract language/forms and uses approved classification systems, rating plans and selection standards to determine eligibility and proper classification for rating.
Applies knowledge of insurance principles and coverages.
Applies available insurance underwriting tools to guard against adverse risks.
Reviews insurance policy contract language/forms and uses approved classification systems, rating plans and selection standards to determine eligibility and proper classification for rating.
Identifies, evaluates, and makes insurance underwriting decisions according to FAIR Plan underwriting guidelines and program eligibility
Responsible for complex underwriting tasks.
Provides technical assistance / training to internal and external customers regarding basic coverage definitions, policy and endorsement provisions, and underwriting acceptability for commercial property coverages.
Reviews, evaluates, and monitors inspection reports for compliance and loss prevention.
Performs appropriate classification and rate changes upon notification of exposure changes.
Evaluates and processes Commercial endorsement referrals and general underwriting correspondence including initial research on Department of Insurance Request for Assistance letters received on Commercial policies.
Handles renewal referrals from internal business units to ensure correct rating for Commercial insurance policies.
Evaluates existing procedures and recommends adjustments to ensure compliance with applicable guidelines, regulations and streamline processes.
Knowledge and Skills Requirements:
The individual must meet the following requirements:
Bachelor’s Degree preferred.
2+ years of Commercial Insurance Underwriting, or equivalent, experience
Knowledge of Commercial Property products and coverages and the Principles of Insurance
Strong verbal and written communication skills.
Attention to detail and accuracy.
Proven decision-making skills with minimal direction.
Proficient with Computers and Microsoft Office suite.
Demonstrated understanding of Commercial Rating principles.
Job Type: Full-time
Benefits:
401(k)
401(k) matching
Dental insurance
Disability insurance
Flexible schedule
Health insurance
Health savings account
Life insurance
Paid time off
Retirement plan
Vision insurance
Schedule:
Day shift
Education:
Bachelor’s (Preferred)
Experience:
Underwriting: 2 years (Preferred)
Commercial Property Insurance: 1 year (Required)
Work Location:
One location
Work Remotely:
Yes