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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
