Casualty Binders Underwriter

Job Purpose:

To underwrite and manage all facets of the Casualty Direct Binders account.

Detailed Duties:

• Underwrite authorised class(es) of business in accordance with the business plan.
• Ensure that all underwriting obtains the required return on capital.
• Underwrite within agreed risk control framework including:
• Individual risk limits as agreed under the underwriting authority matrix.
• Aggregate limits as per latest agreed syndicate aggregate limits and all other controls as described in the latest version of the underwriting procedures manual.
• Attend the box within Lloyd's during underwriting hours.
• Liaise closely with the internal Claims Department and/or external claims adjusters as required.
• Assessment of Loss ratio analysis for individual accounts.
• Ensure underwriting files are of sufficient standard to ensure that effective Peer Review can be carried out and queries responded to within agreed SLA.
• Ensure the Technical Premium and Rate Movement is entered for every risk.

Compliance

• Ensure compliance with broker security requirements. Check that individual brokers adhere to their individual credit limits and that a TOBA is in place prior to quoting business with an unauthorised broker.
• Ensure compliance with Lloyds licencing requirements.
• Assist with completion of sanctions checks.
• Completion of annual compliance training.
• Compliance bulletin review and action, where required.
• Ensure that Downgrade Clauses comply with the syndicates Down Grade Clause Policy.

Administration

• Ensure that the account administration is at all times up to date for relevant class(es), including responding to queries raised by Administrators promptly.
• Work closely with Assistants and accept overall responsibility for administration.
• Ensure Claims data discrepancies between submission are reported.

Facultative Reinsurance Purchasing

• Ensure that the purchasing of facultative reinsurance is done so in accordance with the RI purchase procedures.
• Ensure that any agreed endorsements that could affect the facultative reinsurance programme are notified to the reinsurance team.
• Work closely with the Reinsurance Department to ensure all cover notes are logged onto the system and to ensure overall compliance with the latest Reinsurance procedures.

Aggregates

• Check that there is available aggregate prior to quoting.
• Ensure that all aggregate information is recorded at the required level of detail.

Attendance

• Attendance at the monthly underwriter meetings.
• Attendance at monthly Claims meetings.

Credit Control

• Manage the credit control issues for the class(es) including close liaison with Assistant Underwriters, Capita and brokers.

Management

• Manage, motivate, and where necessary discipline subordinate members of staff.
• Participate in relevant internal committees.
• Ensure all senior staff are kept appraised of market issues and conditions.

Marketing

• Develop and maintain relationships with key brokers within the insurance market.
• Develop and maintain relationships with clients.

Working Knowledge of Systems

• Crystal/Lloyds QA Tool.
• S2000 (Subscribe).
• Swordfish.
• GAAP