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Underwriter - Surety
Underwriter - SuretyCapSpecialty • Concord, CA, US
Underwriter - Surety

Underwriter - Surety

CapSpecialty • Concord, CA, US
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  • [job_card.full_time]
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Job Description

Job Description

This is a position on our West Coast team for someone in California. This position could be either remote or hybrid depending on proximity to the office.

  • We may consider someone for a Senior Underwriter role with the right experience
  • . #LI-Hybrid

At CapSpecialty, we are a specialty underwriting company being driven by well-informed, entrepreneurial and proactive employees. Come join our exciting company where you can really make an impact, and each individual's unique skills and talents are recognized and valued. You will find an accessible leadership team that welcomes opinions and ideas. We owe much of our success to our collaborative environment and set of three guiding principles rooted in customer-centricity, employee excellence and corporate culture.

We offer competitive compensation and benefits packages – including an innovative open vacation plan, generous paid sick and parental leave, fully vested matching 401k, company-paid group term life insurance and short- & long-term disability plans, professional and educational growth opportunities, flexible and casual work environment, and recognition for exceptional performance. Please see our full list of Total Rewards here.

CapSpecialty is seeking an Underwriter for our West Coast Surety Team who will generate profitable commercial Surety & Fidelity business by managing the book of business through underwriting assigned territory, building working relationships with agents and co-workers, and participating in account underwriting and manager’s meetings.

Duties / Responsibilities :

  • Independently produce more complex accounts / programs from startups to Fortune 500 account types. Analyze all facets of a financial statement and forecast the future impact the financial results will have on any account within its industry.
  • Independently compile all underwriting information to assess overall risk, making a sound credit decision w / appropriate pricing, collateral, or other security. Approve and maintain good accounts for profitability by underwriting new submissions, renewals, and credit drawers.
  • Research and generate new business leads & independently develop business relationships, cultivating them through strong customer service. Articulate CapSpecialty’s risk appetite & business philosophies to assigned agents / brokers.
  • Demonstrate leadership skills in everyday business environment by training and mentoring underwriting team in underwriting concepts & corporate philosophies. Exhibit understanding of the “big picture” and overall goals of our organization. Review and respond to recommendations of Underwriters, working with them to help them learn more in depth principles of underwriting to advance in their respective careers.
  • Determine what underwriting guideline changes are needed by investigating and reporting on bond claims and losses.
  • Participate in the account underwriting meetings to assist in the approval of large risks and the establishment of departmental policies and procedures.
  • Participate in off-site training seminars to develop leadership skills.
  • Perform industry networking by participating in agency functions and visits.
  • Supervisory Responsibilities :

    None.

    Core Competencies :

  • Bond analysis skills, including an understanding of procedures and rates, as well as knowledge of specified territory including agency plant, accounts, and competition and general business climate. Working knowledge of Capitol’s reinsurance treaty (ies) and limitations.
  • Ability to utilize MS Office software and communicate effectively, both verbally and in writing.
  • Ability to effectively collaborate in a team environment, while working independently.
  • Fundamental ability to analyze all facets of a financial statement and tie together all statements including the statement notes.
  • Fundamental knowledge on how to apply both vertical and horizontal financial trending (i.e. liquidity, profitability, and debt coverage ratios, etc.) to forecast the future impact the financial results will have on any account within its industry.
  • Ability to analyze and demonstrate thorough understanding of credit as it relates to the risk.
  • Understanding of contracts and statutes.
  • Fundamental understanding of indemnity agreements.
  • Education and Experience :

  • Bachelor’s Degree, or equivalent.
  • 1+ years of direct underwriting experience.
  • Completed or working towards an Associate in Fidelity and Surety Bonding (AFSB) designation preferred.
  • Physical Demands :

  • Prolonged periods of sitting at a desk and working on a computer.
  • May be required to lift up to 15 lbs. at times.
  • May require business travel up to 20%.
  • CapSpecialty is a leading provider of specialty insurance and bonds for small- to mid-sized businesses in the U.S., offering casualty, professional liability, surety and fidelity products in all 50 states and the District of Columbia. By working with select partners through a limited distribution model, CapSpecialty's creative, hard-working team provides personalized service and cultivates mutually successful partnerships to deliver positive results. CapSpecialty is an operating subsidiary of Berkshire Hathaway, and its carriers have an A ("Excellent") rating from A.M. Best, writing both admitted and non-admitted policies. For more information, please visit CapSpecialty.com.

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