Territory Contract Underwriter

Territory Contract Underwriter Job Purpose

A Territory Contract Underwriter evaluates and underwrites contract surety bonds submitted to the Company within established parameters and guidelines, contributes to a profitable surety operation, and to the marketing of other lines of business.

Core Work Responsibilities

• Determines the acceptability of surety risks, based on the Merchant’s guidelines and marketing strategy.
• Operates within the authority established by the Senior Vice President – Contract Underwriting.
• Reviews agent submissions/applications and assures that business statements, personal statements, and work-on-hand schedules are analyzed and noted properly.
• Accurately evaluates for future profit or loss potential and verifies appropriate rates for the risk.
• Obtains background information and references in order to analyze and properly evaluate the risk.
• Prepares contract bond quotations.
• Responds to questions regarding the proposed program and rate.
• Creates year end updates on accounts and provides direction to the agent regarding further handling of the account.
• Assures an accurate count of our contract bond backlog by keeping existing files and the status of existing bonds up to date.
• Maintains current File Notes, reflecting significant events and important information regarding the account.
• Reviews specific contract bond forms and contracts to assess acceptability of risk.
• Recommends potential contract wording or revisions to make the risk more acceptable to the Company.
• Presents account terms and conditions properly so they are easily distinguishable and understood.
• Maintains current data on Underwriting Information Sheet for all major accounts.
• Serves as backup to other team underwriters in their absence to respond to client questions and issues.
• Works effectively within their assigned level of authority.
• Prepares documented recommendations on requests that are outside their level of authority.
• Prepares quarterly team production reports and travel recaps based on team specifications.

Marketing and Relationship Building

• Maintains positive relationships with existing agencies and major accounts, including regular on-site visits.
• Continues to build premium and business opportunities with key agents and accounts.
• Solicits feedback regarding our service levels and performance.
• Maintains current account and relationship information.
• Completes meeting summaries in a timely fashion.
• Develops new business opportunities by prospecting for new agency relationships.
• Effectively utilizes marketing materials in presentations, proposals, and other marketing efforts.
• Represents Merchants Bonding and their interests professionally at industry functions.
• Networks with industry peers and experts to stay up-to-date on industry developments and potential legislative issues.
• Plans and manages effective meetings with agents and/or contractors using effective meeting management tools.
• Establishes and achieves quarterly and annual production goals.
• Typically handles up to $1.5 million in production.

Qualifications

• Bachelor’s degree or equivalent work experience in business, underwriting, insurance, or a related field, plus 3-6 years of experience in bond underwriting or a similar role in the Surety industry.
• Coursework in math, statistics, and financial analysis would be helpful.

Benefits

At Merchants, we value balancing the needs of our associates and their families. We offer a wide range of benefits designed to help achieve a healthy work-life balance and support personal and professional growth. In addition to competitive pay, bonus programs, and generous paid-time off, here are a few stand-out benefits:

• Flexible hybrid and remote opportunities with 37.5 hour work week
• Free health insurance option
• Paid volunteer time off with matching gift program
• Infants in the Workplace Program with family resources
• Discover more at: https://www.merchantsbonding.com/careers#Benefits

About Merchants

For nearly a century, Merchants Bonding Company has focused almost exclusively on surety, delivering common sense underwriting and first-class experiences to agents, accounts, and associates across the country. Merchants stands apart from multi-line carriers by offering deep surety expertise, a flexible approach, and strong financials that instill confidence and foster lasting partnerships. Our people-first culture is built on collaboration, inclusion, and shared success. We’re committed to helping associates grow through real opportunities for advancement, while supporting a sense of belonging.