Garage Underwriter II

Verus Specialty Insurance, a proud member of the esteemed W.R. Berkley Corporation (NYSE: WRB), is a leading Excess and Surplus Lines provider delivering comprehensive solutions across the United States. Backed by the strength of a Fortune 500 company and the agility of a nimble startup, we blend innovation and excellence in everything we do. Our nationwide operations are supported by a robust network of select wholesale producers, ensuring broad reach and capability. We foster a dynamic culture where questioning the norm is expected, empowering our team to surpass customer expectations and drive industry progress. At Verus, we value collaboration, growth, and ownership, creating a community where exceptional talent can thrive and innovate.

About the role

As a Garage Underwriter at Verus, you will independently manage a diverse portfolio of complex and high-risk garage accounts. With some managerial direction, you will utilize your expertise to make informed decisions within your assigned authority. This role demands a deep understanding of the excess and surplus lines market, strong broker relationships, and a strategic approach to risk selection and pricing. Your contributions will drive the company's growth and ensure profitability.

Responsibilities

• Independently underwrite small to midsized garage risks, including general liability, product liability, and other specialty lines, as well as handle a complex renewal book.
• Develop, manage, and strengthen relationships with wholesale brokers to ensure a steady flow of business and stay ahead of market trends.
• Plan, orchestrate, and lead highly effective broker meetings to strengthen relationships, address performance issues, and explore new business opportunities.
• Proactively identify and address broker performance issues, ensuring alignment with company standards.
• Stay informed on industry developments, regulatory changes, and emerging trends to enhance underwriting decisions and drive business growth.
• Make autonomous decisions on risk acceptance, coverage terms, and pricing within your assigned level of authority.
• Consistently meet or exceed designated line of business (LOB) production metrics.
• Apply technical knowledge in underwriting, coverage, and pricing to manage complex risks and optimize profitability.
• Demonstrate a comprehensive understanding of pricing and risk selection criteria to ensure underwriting decisions are both profitable and competitive.
• Conduct a minimum of 2 trips per year to visit brokers, build relationships, and represent Verus at industry events.
• Properly handle referrals to ensure consistent underwriting quality across the team.
• Deliver exceptional service to brokers and insureds, ensuring timely and clear communication throughout the underwriting process.
• Ensure all underwriting activities comply with company guidelines, regulatory requirements, and industry best practices.
• Perform other duties as assigned, contributing to the overall success of the team and the company.

Qualifications

• Bachelor’s degree in insurance, business, finance, or a related field. Professional designations such as CPCU, RPLU, or ARM are highly desirable.
• Minimum of 3 years of relevant industry experience, with a strong focus on excess and surplus lines and complex risk underwriting.
• Deep understanding of the surplus lines marketplace, including peers, competitors, and market cycles.
• Strong analytical and decision-making skills, with the ability to assess risk and profitability in complex scenarios.
• Excellent verbal and written communication skills, with the ability to articulate underwriting decisions and rationale to brokers and internal stakeholders.
• Proven ability to build and maintain strong relationships with brokers, insureds, and colleagues.
• Ability to thrive in a fast-paced, dynamic environment with a high degree of autonomy.
• Proficiency in Microsoft Office Suite and underwriting software.
• Willingness to travel as needed, including a minimum of 2 broker visits per year.

Benefits

• Health, Dental, and Vision insurance
• Life and Disability insurance
• Wellness programs
• Paid Time Off
• 401(k) and Profit-Sharing plans
• Eligibility to participate in the annual discretionary bonus program

Pay

Base Salary Range: $105,000 - $120,000. The actual salary for this position will be determined by factors including the scope, complexity, and location of the role; the skills, education, training, credentials, and experience of the candidate; and other conditions of employment.

Schedule

Primary location: Glen Allen, VA. This role requires a minimum of 2 trips per year to visit brokers and attend industry events, with additional travel as needed.