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Main Street Commercial Lines Insurance Underwriter - Germantown, MD
Career Insights for Insurance Underwriter (General)
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What they do
An Insurance Underwriter evaluates and measures risk and advises businesses in insurance, banking and securities. Recommends customers to be approved for insurance coverage, and develops policies and premium levels. Reviews loan applications, evaluates credit-worthiness of loan applicants and analyzes the investment risk of a loan for the bank. Evaluates risk in different types of securities and advises clients on investments that will yield highest profits.
$77,783 / year median in the U.S.
-15% projected decline
Job Description
REMOTE WORK FROM HOME
POSSIBLESeeking 5+ years experience in underwriting to develop and implement go-to market business strategies for new product coverages, packages, and features for small and medium sized business lines insurance addressing the needs of restaurant, roofer & contractor, mercantile, garage service and repair, machine shop, barber and beauty, health club, daycare, motel, professional office, hospitality & event planning, etc. Requires practical knowledge of: Pricing and rate levels; Implementation processes for both run-off and new products; Commercial underwriting rules and guidelines; Portfolio mix planning and balancing; contracts, forms, procedures and endorsements; Sales and product expense control; Fee generation; and Catastrophic loss mitigation, reserving and reinsurance.Shall:
- Develop and implement business plans to maximize Small Business General Liability Lines profit and growth.
- Work closely with product development team.
- Support sales leadership in managing agent relationships.
- Develop programs that influence agencies to adopt new products, programs, technologies and practices.
- Maintain individual state regulatory compliance.
- Surveil industry trends and competitor actions.