It’s well-documented that in today’s hardening insurance market (with premiums rising significantly and insurers imposing more stringent terms), that securing Latent Defects Insurance capacity is an increasingly tough ask. We are delighted to partner with a new independent LDI provider that, with capacity lined-up, and further A rated paper about to go live, is set to take the market by storm.
Our client is one of the best-known names in its chosen disciplines within the Construction sector; with dozens of offices, it has a national footprint and long-established trading relationships with residential and commercial developers, from independents through to PLC housebuilders and big names from the worlds of Retail, Motor Trade and Education. With such backing, this new provider is confident it will offer the fastest and most efficient way for developers of all size to access Latent Defects and Construction Bonds through its coverholder facility. This challenger brand has bold ambitions that will see it tackle the status quo, take business from the more staid players in the market, and is very confident of being one of the market’s leading players (GWP) in a few short years.
Aston Charles has been retained to assist in the appointment of a Latent Defects Underwriter to join this fledgling new division. This is a home-based opportunity, although if desired, there is scope to work from one of dozens of regional offices, and occasional travel to the Head Office will be necessary (anticipated to be weekly, but the exact requirement is flexible).
Here, you will be responsible for underwriting a profitable book of Latent Defects business in a compliant manner, assessing client information and liaising with specialists to calculate LDI (and related risks) rates correctly in line with the coverholder’s terms and conditions. Working alongside Business Development & Surveying Teams, you will oversee the approval, financial certificates and conditional policies, and completing bordereaux. As a ‘hands on’ Underwriter, you will be granted scope to negotiate T&C’s, including making final decisions on high value / risk developments. As a senior employee, you will help set the future direction of the business, chair meetings, and act as an advocate and technical referral point across the wider group. You will also be expected to help promote the business to a variety of stakeholders, including senior personnel from across the Construction and Insurance sectors.
Needless to say for such a pivotal role, it is essential that you are an experienced Latent Defects Underwriter and have previously held senior positions, or can demonstrate an ability to step up into such a role. As this is a new division, it is essential that you have a ‘can do’ attitude and can thrive in a fast-paced environment. You’ll also be able to come up with innovative solutions to overcome any problems face or ways to develop the business. You should have excellent communication skills, and be confident negotiating, building relationships and securing buy in from individuals from all walks of life, including both internal and external stakeholders.
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