Underwriter

RT Specialty, a division of Ryan Specialty, is a leading wholesale distributor of specialty insurance products and services. Our experienced brokers specialize in property, casualty, professional lines, transportation, and workers’ compensation, providing creative solutions to retail brokerage firms. We define ourselves through superior execution on behalf of our clients, establishing us as an industry leader.

About the role

The Binding Authority Underwriter is responsible for developing and maintaining a book of business by assessing and analyzing insurance risks, determining coverage terms per binding authority underwriting guidelines, and building relationships with internal and external stakeholders. The role reviews and authorizes binding authority requests, ensures compliance with regulatory standards, collaborates with brokers, negotiates terms, evaluates exposures, and establishes premium rates.

Responsibilities

• Assess and price renewals, new business, and endorsements according to guidelines outlined in the underwriting manual and within authority level.
• Select and/or verify class code, premium base, and rating exposure.
• Determine appropriate credits and/or debits to obtain a fair and sustained premium for risk.
• Determine coverage forms and necessary endorsements.
• Effectively communicate quote conditions to brokers.
• Provide accurate documentation in the file and/or electronic notes of underwriting thought process.
• Ensure timely and accurate preparation for issuance of policies.
• Order/review inspection reports to assess risk quality and confirm exposure base accuracy.
• Process endorsements accurately and timely.
• Actively manage relationships with assigned brokers, customers, and members.
• Integrate information from internal and external resources into underwriting decision-making.
• Follow referral guidelines for all lines of business underwritten.
• Conduct stewardship meetings and lead marketing activities.
• Establish and monitor the production pipeline of new business.
• Participate in industry conferences.
• Drive a multi-disciplinary approach to understanding insureds’ risks.
• Collaborate with other underwriters and team members to gain a comprehensive understanding of exposure and coverage solutions.

Requirements

• Bachelor’s degree required; Master’s degree preferred (Business Administration, Risk Management, or related discipline).
• Minimum of 5 years of experience in Binding Authority and Insurance Underwriting with a Bachelor’s degree, or 3 years with a Master’s degree.

Qualifications

• Minimum state P&C and/or surplus line licenses (required).
• Certified Insurance Counselor (CIC) or Chartered Property Casualty Underwriter (CPCU) (preferred).

Skills

Technical/Functional Skills

• Risk Evaluation
• Guidance Adherence
• Collaboration
• Documentation
• Marketing
• Portfolio Management
• Policy Language
• Data Analysis
• Communication

Behavioral Skills

• Project Management
• Group Presentations
• Time Management
• Event Marketing

Pay

The target salary range for this position is $84,000.00 - $105,000.00 annually. The wage range considers factors such as training, transferable skills, work experience, licensure, certification, business needs, and market demands. Full-time roles are eligible for bonuses and benefits.

Benefits

Ryan Specialty offers a comprehensive benefits package, including:

• Paid time off for company holidays, vacation, sick, and personal days.
• Paid parental leave.
• Mental health services.
• Additional well-being programs for physical, financial, and emotional health.

For additional information on Ryan Specialty Total Rewards, visit benefits.ryansg.com.