A rare opening has arisen with a prestigious, boutique Professional Indemnity MGA and Lloyd’s Coverholder to set up a new regional operation for them.
This well-established and very successful firm is led by a highly respected Underwriting Director, who has a phenomenal track record within the PI market. Before founding this business years ago, he led a top-performing syndicate in London, where he honed his entrepreneurial PI underwriting expertise.
Historically, this business has been specialising in writing Medical Malpractice insurance for a select panel of brokers, however, its longstanding capacity provider has now granted it the authority to also underwrite miscellaneous PI business.
This company’s selling points are its free-thinking approach, its entrepreneurial spirit, and its ability to find ways to underwrite risks that other insurers simply can’t. Just as importantly, this is a company that is well-renowned for its service. It is not adopting a ‘stack it high, sell it cheap’ methodology; the organisation is very much focused on writing specialist, non-standard risks, which require true underwriting expertise.
The target market for this PI division will be Miscellaneous risks, steering clear of the ‘Traditional Professions’. You’ll be able to cater for literally hundreds of trades, including, but certainly not limited to, Management Consultants, Scientific Researchers, Arbitrators, Product Designers, Training Schools and Recruiters etc. If you specialise in any particular PI niche that fits with our client’s appetite, you will be welcomed to fully exploit this.
You must be a well-experienced PI Underwriter, holding a strong profile in the market and displaying a proactive approach to writing business. Just as importantly, you’ll enjoy managing and developing broker relationships and you’ll have great ambassadorial skills. Our client will consider veteran Underwriters, as well as talented and ambitious Underwriters who are “on their way up.”
Given the founder’s reputation in the Professional Lines market, and the firm’s established distribution channels, you will have lots of opportunities to write business. In addition, you will be encouraged to introduce your own connections. You’ll benefit from the company’s robust back-office infrastructure, including a highly competent claims team, which will take a lot of the burden away from you in order for you to focus on running your book.
This is a well-planned and considered ‘investment hire’ and refreshingly, our client has very realistic and achievable business targets to ensure that you make a comfortable transition into the role without any unnecessary pressure.
The company envisages that this new regional operation will begin with a team of two; A Senior PI Underwriter and an Administrator / Underwriting Assistant. It might be that you come as an established duo, or alternatively, we might help you recruit an Assistant after your appointment into the role. Again, our client is very flexible when it comes to home / office working.
The founder says that the successful candidate will, “struggle to find the same level of technical experience and support in any competing business.” He also described this as a “very exciting time for the company, and a great opportunity for someone to really enhance their profile in the market.”
You will be rewarded with an attractive basic salary of up to £70K (negotiable, dependent on experience), together with an extremely generous benefits package including 30 days holiday, substantial pension contributions, PMI, DIS (8 x annual salary), Critical Illness Cover, and Group Income Protection.
Opportunities such as this really are few and far between. Having had lengthy discussions with the board, they are so enthusiastic, supportive and passionate about what they do, that this really is a phenomenal opportunity for a talented PI Underwriter who is looking to make their mark.
We are anticipating a great deal of interest in this position, therefore we encourage you to contact us soon to avoid disappointment.
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