Group Underwriter reviews and analyzes risk characteristics on insurance applications, renewals, and change requests. Utilizes underwriting guidelines, rules, standards, and levels of authority to accept, reject, or mitigate risk for applications and determine appropriate premiums, limits, and coverages. Being an Group Underwriter calculates renewal rates. Ensures that underwriting activities comply with all industry and governmental regulations. Additionally, Group Underwriter may coordinate with field agents to collect or clarify information or decisions. Typically requires a bachelor's degree or equivalent. Typically reports to a supervisor or manager. The Group Underwriter work is closely managed. Works on projects/matters of limited complexity in a support role. To be an Group Underwriter typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)
Commercial Underwriter Objective
To underwrite designated commercial lines of insurance. To implement company philosophy and underwriting guidelines in the acceptance and rejection of risks, pricing, classification, hazard recognition, and providing service to policyholders, Farm Bureau Insurance agents and their staff.
Commercial Underwriter Responsibilities
Evaluate, examine and physically survey risks submitted for coverage by Farm Bureau Insurance agents. Accept, modify or reject risks based upon all relevant information available, including guidelines, directives, inspections and claims information.
Properly classify and rate risks, verify coverage amounts, and develop appropriate premium. Work with Farm Bureau Insurance agents, and in some cases insureds, to determine exposure and appropriate coverages.
Monitor exposure of individual risks by the review of pictures, inspections, claims, consumer reports, renewal surveys, audits and communications with Farm Bureau Insurance agents.
Commercial Underwriter Qualifications
Required: Bachelor’s degree required, or equivalent experience may be considered.
Minimum one-year experience in commercial underwriting or commensurate insurance industry required.
Must possess a valid driver license with an acceptable driving record.
Associate in Commercial Underwriting (AU) or Associate in Personal Insurance (API) required, or must be completed within 24 months of hire, or equivalent education may be considered.
Preferred: Chartered Property Casualty Underwriter (CPCU) designation preferred.
Note: Commercial Field Underwriter working from residence in Michigan.
Farm Bureau offers a full benefit package including medical, dental, vision, and 401K.
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