Job Responsibilities:
• Assists the process of binding insurance policies, ensuring accuracy and compliance with binding underwriting guidelines and regulatory requirements.
• Administers underwriting applications with the information necessary to rate, document and issue accurate and compliant policies.
• Assists with new business submission with directions from the Binding Underwriter to prepare and market to carrier.
• Coordinates between Underwriters and brokers by responding to inquiries, works with brokers to obtain information needed to quote, and provides revised quotes as requested.
• Processes and issues policy endorsements, including changes to coverage, limits, or policy terms, ensuring accuracy and timely implementation and tracks cancellation notifications, non-renewal, and renewal solicitation notifications.
• Maintains comprehensive and organized records of all binding transactions and related documentation, including policy details, endorsements, and client information.
• Communicates with clients to collect required information, explains policy terms and conditions, and addresses any questions or concerns related to the binding process.
• Executes the work assigned by underwriters and underwriting assistants when they are out of the office or otherwise unavailable.
• Prepares reports related to policy binding metrics, performance, and compliance, providing insights for process improvement.
Work Experience:
• Minimum of 6 months of work experience in Insurance Industry or Binding Underwriting or related field.
Licenses & Certifications:
• Preferred: Minimum requirements for state P&C and/or surplus line licenses
• Preferred: Certified Insurance Counselor (CIC) (Preferred)