Senior Underwriter

Job Summary:

The Senior Malpractice Underwriter will work closely with brokers, agents, and healthcare providers to develop appropriate coverage solutions while managing risk exposure for the company.

Key Responsibilities:

• Risk Evaluation:
• Assess and underwrite new and renewal medical malpractice insurance policies for healthcare providers and institutions.
• Analyze applications, medical history, claims experience, and other data to evaluate risk.
• Review medical and legal documentation to determine the appropriate level of coverage and premium rates.
• Policy Development:
• Develop customized insurance policies that address the specific risks of healthcare practitioners or organizations.
• Recommend policy terms, conditions, and exclusions based on the risk profile.
• Provide input on the development of new malpractice products or the modification of existing ones to meet market needs.
• Relationship Management:
• Build and maintain strong relationships with brokers, agents, and healthcare professionals.
• Provide guidance and support to agents and brokers on policy details and underwriting decisions.
• Negotiate terms, pricing, and coverage options with clients and brokers to ensure profitable underwriting.
• Claims Review and Collaboration:
• Work closely with the claims department to monitor loss trends and ensure that underwriting decisions align with claims experience.
• Review claims history and recommend actions to mitigate potential future losses.
• Compliance and Risk Management:
• Ensure compliance with state and federal regulations regarding medical malpractice insurance.
• Stay informed about changes in medical malpractice laws and healthcare regulations that may impact underwriting decisions.
• Identify emerging trends in healthcare and malpractice litigation that could affect risk exposure.
• Training and Mentoring:
• Provide training and mentorship to junior underwriters and staff.
• Share knowledge and best practices to improve the overall effectiveness of the underwriting team.

Qualifications:

• Bachelor's degree in Insurance, Business, Finance, or related field.
• 5+ years of underwriting experience, with a focus on medical malpractice or professional liability insurance.
• In-depth knowledge of medical malpractice underwriting principles and healthcare industry risk factors.
• Strong analytical and decision-making skills.
• Excellent communication and negotiation abilities.
• Proficiency in underwriting software and MS Office applications.

Preferred Skills:

• Professional designations such as CPCU (Chartered Property Casualty Underwriter) or RPLU (Registered Professional Liability Underwriter) are highly desirable.
• Experience working with healthcare providers, hospitals, or large medical practices.
• Familiarity with state-specific malpractice laws and regulations.