Vela Insurance Services provides specialized Excess and Surplus Lines Casualty and Professional Liability insurance solutions in the following four market segments.: Construction, Specialty Casualty, Velocity Small Business & Professional Liability. We offer 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 company’s underwriting guidelines and procedures for commercial risks with a focus on non-admitted General Liability and Excess limits for construction risk. Manage and maintain good Wholesale Broker relationships. Meet and maintain the production, profitability, and service standards established for the company. Assist in building appetite and risk selection guidelines for new classes of business to be added according to market place changes and opportunities.
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 Four (4) year College Degree, or commensurate experience and trainingMinimum of five years’ commercial lines underwriting experience
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