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Senior Underwriting Specialist

Underwriting/Reinsurance Job ID 2024-14163 Primary Location: Los Angeles, California 01/30/2024 Hiring Range: $120,000 - $149,900
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FM Global is a leading property insurer of the world's largest businesses, providing more than one-third of FORTUNE 1000-size companies with engineering-based risk management and property insurance solutions. FM Global helps clients maintain continuity in their business operations by drawing upon state-of-the-art loss-prevention engineering and research; risk management skills and support services; tailored risk transfer capabilities; and superior financial strength. To do so, we rely on a dynamic, culturally diverse group of employees, working in more than 100 countries, in a variety of challenging roles.

This position has an advanced knowledge of the company’s underwriting requirements as well as policy review and policy manuscripting authority. Through advanced underwriting skills, interpersonal skills and negotiation skills, provides underwriting technical expertise to the Account Manager, CSM or Branch Manager. Also provides expertise and training on routine procedural issues and new standards to facilitate understanding, implementation and compliance. The incumbent also works with the Operations Chief Underwriter to handle referral requests in support of the Operations as requested.

  • Develops and recommends underwriting solutions when confronted with complex and unusual risks or unacceptable exposures. Solutions may require a departure from current guidelines.

  • Works with Account Managers to ensure policies, binders, endorsements and other Underwriting documents are properly prepared and executed. This also includes the analysis and design of manuscript wording that meets the needs of the client and FM Global (uses knowledge of manuscript forms/clauses and market practice).

  • Demonstrates an advanced understanding of the key elements of purchasing reinsurance, program structure, layering and pricing. Effectively uses FM Global’s capacity, including in-house reinsurance facilities, to maximize net and reduce reinsurance cost.

  • Provides technical underwriting consulting/mentoring to others to ensure consistently strong profits. Keeps current with market pricing and practices.

  • Maintains an up-to-date knowledge of company underwriting standards, policy forms and coverages, and loss prevention practices. Introduces and provides training to ensure implementation and compliance. Maintains knowledge of current market conditions.

  • Effectively uses interpersonal skills to influence others to help meet corporate objectives.

  • Participates in special projects to facilitate and assure appropriate implementation of either corporate or operational initiatives, as assigned.

  • Handles accounts and prospects as assigned.

  • Effectively manages significant workload so that assistance/mentoring can be provided to others.

  • Assists in the development and delivery of effective presentations to clients/brokers, management and others, through analysis of audience, logical flow and concise communication.

Education: Bachelor’s degree or equivalent; Master’s degree desirable

Experience: 5+ years industry experience with at least 3 years as Underwriter Specialist or equivalent position with FM Global.

Skills/Knowledge: Attention to detail, strong technical underwriting knowledge, decision making skills and knowledge of internal IS systems.  Intermediate proficiency level in the competencies of Account Management and presentation skills.  Advanced proficiency level in the competencies of Business Communications, Exposure Analysis, Interpersonal Skills, Negotiations, Planning & Organizing, Policy Terms and Conditions, Profitability Analysis & Pricing, Program Structure & Line setting, Relationships and Underwriting Guidelines.

The salary range for this position is $120,000 to $149,900. The final salary offer will vary based on geographic location, individual education, skills, and experience. The position is eligible to participate in FM Global’s comprehensive Total Rewards program that includes an incentive plan, generous health and well-being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work, time off allowances and much more.

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