AmTrust Financial Services
 

Specialty Risk Underwriter


Overview

Specialty Risk UW - Warranty Experience Required

The Special Risks Underwriter is responsible for the evaluation, analysis, pricing and servicing of various warranty offerings using accepted Company procedures, standards and guidelines that have been established for various industries and product categories.

  • Automotive, Marine & Powersports Coverages

  • Commercial and Mobile Device Coverage

Responsibilities

Understanding of extended warranties (service contracts), GAP and other similar insurance-related programs related to the product grouping to be assigned.
Having an in-depth knowledge of the products on which assigned warranty programs are being developed and services that are required for product repairs;
Having knowledge of product service programs and the costs associated with parts and labor for completion of repair services;
Conducting periodic reviews of existing extended warranty business to ensure that the programs are desirable from an Underwriting viewpoint and providing the required profitability. Reviews and revises pricing and coverage to ensure that the premiums being charged and the reserves are commensurate with the programs exposure.
Provides actuarial team with the appropriate information for in-depth rating of those projects defined by Management.
Reviews Service Terms and Conditions to ensure that the contractual provisions are consistent with those services that have been priced and approved for the requested program.
Establish guidelines, procedures and rate approval for Special Quotes or Large Programs/National Accounts.
Discusses new opportunities with Company Sales Representatives and potential/existing clients to understand the risk at hand; suggests additional questions to be posed to potential/existing clients to better define the programs such that Underwriting can design and rate the program according to its risk and customer requirements.

Qualifications

3 + Years Experience in Special Risk/Warranty
College degree or extensive experience in the Service and Warranty industry having superior knowledge in Service Contracts.
Adequate knowledge of Microsoft Office Applications and ability to learn new software programs that are generally used in the process of program Underwriting.
Having knowledge of SAS or SQL is a plus
Strong analytical ability and organizational skills
Willingness to travel 2 days per month

 

About AmTrust Financial Services

 

AmTrust Financial Services, Inc. was founded in 1998 to provide property and casualty insurance to small businesses. Through acquisitions and organic growth, AmTrust Financial Services has since grown to become a multinational property and casualty insurer specializing in coverage for small to mid-sized businesses. Our financial stability is based upon a philosophy of niche diversity with a focus on low-hazard risk.

Since its inception, AmTrust has crafted a balanced portfolio of insurance products including:

  • Multiline Small Business Insurance
  • Warranty and Specialty Risk Insurance
  • Specialty Program Business Insurance

In November 2006, the company became publicly traded on the NASDAQ Global Market under the symbol AFSI. With extensive underwriting experience and a prestigious "A" (Excellent) Financial Size "XI" rating from A.M. Best, AmTrust has earned a reputation as an innovative, technology driven provider of insurance products. Our commitment to excellence is the common thread connecting each of our businesses.