Job Description

Company Details

A constellation in the southern hemisphere, Vela means sails of a ship in Latin. In 1996, Vela Insurance Services began operations writing excess and surplus lines casualty business. In the beginning, the primary focus was on construction and manufacturing risks but expanded to write a variety of general casualty and professional liability classes. Today, we offer both national service and local knowledge to our exclusive wholesale broker network and the businesses they serve.

Responsibilities

To evaluate (selection and pricing) and maintain (control) risk acceptability and profitability within the companys underwriting guidelines and procedures for commercial risks with a focus on non-admitted General Liability and Excess limits for construction risk primarily located in the 5 boroughs of New York City. Manage and maintain good Wholesale Broker relationships. Meet and maintain the production, profitability, and service standards established for the company.

* Adhere to underwriting authority level as per on file with Manager.
* Gather underwriting information to properly evaluate commercial risks for acceptability within company guidelines. Underwrite for profit.
* Meet/Exceed production, profitability, and service targets.
* Ability to research and solve more complicated problems and make decisions.
* Determine final coverages and pricing for commercial risks.
* Review claims and loss information on individual risks. Use this information to identify and re-evaluate accounts and develop strategy for dealing with exposures and frequency issues.
* As a team with the Manager, manage the portfolio profitability and identify favorable and unfavorable classes of business.
* Maintain quality and time standards as established.
* Be informed/knowledgeable of industry issues and activities through formal educational processes to develop underwriting skills.
* Identify and cultivate brokers with new business opportunities.
* Perform other duties as assigned.

Qualifications

* Minimum of 5-10 years commercial lines underwriting experience
* Strong experience in Excess & Surplus Lines, Construction and Wholesale Brokerage Distribution.
* Professional designations preferred