This is a superb opportunity for an experienced Commercial Underwriter to forge a rewarding career within the fascinating Latent Defects Insurance niche. With Government commitment to the ongoing support of the house building industry for years to come, this really is a superb time to specialise in a booming sector!
Our client is a market-leading name within the Latent Defects and Structural Warranties sector, and it partners with a wide variety of firms (both direct and via brokers), from self-employed builders, through to niche contractors, housing associations and some of the country’s biggest house builders. Writing on A Rated paper, the company has one of the most comprehensive offerings in the market, backed up by a highly technical team and a reputation for delivering excellent client service.
Here, you will be evaluating the risk of projects against a variety of criteria such as construction methods and client profiles. Individual projects could range from individual house builds through to high spec’ barn conversations and large-scale redevelopments of former department stores as part of the ‘city living’ boom. You will underwrite projects of up to £10,000,000 reinstatement value, calculating premiums and appropriate T&C’s in line with the insurer’s binding agreement. This will extend both to new business enquires and mid-term amendments, and where the reinstatement value likely exceeds £10,000,000 you’ll present the case to the management team to refer to insurers. You will help manage relationships with a variety of stakeholders, chasing down necessary information and ensuring this is uploaded to the in-house IT platform.
It is essential that you have a sound understanding of underwriting principals and the general insurance market, coupled with solid risk analysis skills. Ideally, this would include knowledge of Latent Defect, Structural Warranty or Construction-related insurance lines, but this is by no means a deal-breaker and we welcome applications from Commercial Underwriters from all disciplines. As this team is well-known for its fast-paced atmosphere, you must be well-organised with good prioritisation and task management skills. Just as importantly, you’ll have a positive, enthusiastic ‘can do’ attitude and always be willing to go the extra mile to see assignments through to completion.
In return, you will receive a fantastic basic salary and a generous benefits package. You will also receive comprehensive training, and benefit from a range of opportunities to progress your career (such as into technical, managerial or client-facing roles) in this booming niche. Depending on your experience, this role can benefit from a degree of home-working – for example, for those candidates new to LDI it will be necessary to initially work from the office daily, but as experience levels rise, so does the flexible-working on offer.
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