Commercial Lines Underwriter, Senior

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Pennsylvania Lumbermens Mutual Insurance Company

WebsiteLinkedInAll Job Openings

51 - 200 employees

Founded 1897

💸 Finance

🛡️ Insurance

Finance • Insurance

Pennsylvania Lumbermens Mutual Insurance Company is a leading insurance provider specializing in the lumber, woodworking, and building material industries. With over 125 years of experience, PLM offers a range of products and services, including loss control consultation and innovative risk management solutions. As a mutual insurance company, PLM is committed to delivering industry-specific resources and quality services tailored to the needs of its policyholders rather than shareholders. PLM is recognized for its stability, expertise, and dedication to fostering strong community relationships through stewardship and volunteer efforts. The company prides itself on being a trusted partner in protecting wood-based businesses and their operations.

📋 Description

• Review applications for class acceptability, completeness (request additional info, if appropriate), and risk acceptability • Evaluate classification for accuracy • Review Dunn & Bradstreet Reports or financial statement as appropriate to ensure client liquidity • Coordinate pricing with the broker and Field Representative by determining expiring price as well as target price and who competition is. Obtain commitment from broker regarding account placement if we meet the target price • Develop any additional underwriting information necessary to determine risk acceptability and if appropriate, have a tentative quotation developed • Run location specific CAT model using JLT’s CATography software • Secure Reinsurance quote, if needed • Coordinate quotation’s release with the Field Representative • Establish a diary on the quotation for follow up with broker to ascertain initial acceptability, re-diary for follow up prior to effective date to ascertain our success and, if appropriate, consider last minute revisions • Refer risks exceeding underwriting authority with a recommended handling action to the Underwriting Manager • Process all quotations by broker’s “need by” date • Review file for completeness of underwriting information and, if necessary, coordinate/obtain any missing or incomplete information • Contact broker and implement the renewal retention program as outlined under separate cover • Complete a loss analysis • Evaluate most recent Technical Service information; if necessary obtain updated or new report. Confirm status of recommendations that are outstanding (or may be) • Make renewal decision, i.e. renew (and, if so, at what price) or non-renew • Confirm policy construction issues • Involve Underwriting Manager as appropriate • Process all renewals at least 30 days prior to effective date unless the broker or insured delays processing by withholding information • Review requests for completeness of information • Evaluate request for acceptability • Consider any pricing issues • Process all endorsement requests within 10 days of receipt • Verify drivers' list is complete including full names, dates of birth, drivers’ license numbers and, states of licensing. Underwrite this information in light of the risk you are reviewing • Order MVRs. Re-underwrite driver information once the MVRs are available • Develop detailed loss information by reviewing hard copy from prior carriers

🎯 Requirements

• Bachelor’s degree in Risk Management and Insurance; or equivalent relevant experience • 6 plus years demonstrated multi-line underwriting experience in a similar environment • Professional designation of CPCU or equivalent (ARM, CIC, AU) preferred • Understanding of and ability to apply underwriting processes to potential and current risks • Demonstrated ability to analyze financial stability and determining a clients’ liquidity • Detailed understanding and “current knowledge” of commercial coverages and policy forms • Good understanding of commercial rating techniques • Knowledge of reinsurance marketplace, both facultative and treaty • Good understanding of policy construction detail • Knowledge of CAT management tools and understanding of exposure, both at individual account and book level • Outstanding organizational skills resulting in the ability to handle a large workload. • Strong communication skills (both oral and written) • Strong negotiation skills • Basic understanding of the insurance industry as a whole • Basic understanding of the sales process • Ability to work in a team environment • Ability to build and manage relationships with clients and fellow employees • Ability to identify and solve complex problems

🏖️ Benefits

• N/A