UFG is hiring for a Sr. Surety Underwriter who is actively working towards building and maintaining a profitable mix of new and existing surety business by developing and maintaining strong working relationships with the agency force. Demonstrate strong analytical skills to evaluate risks for acceptability within their higher authority and company underwriting parameters. Independently Underwrite more complex submissions. Make regular agency visits and calls to assess growth and profitability of agents in their territory. Prospect and appoint new quality agents in the territory. Visit current and potential contractor’s place of business to better assess acceptability and quality of the accounts.
Essential Duties & Responsibilities:
- Demonstrate successful growth of business independently and responsibly utilize the higher authority granted.
- Underwrite more complex submissions independently.
- Independently underwrite new submissions and existing accounts with the assistance from mentors. Evaluate and assess financial status, credit standing, and organization profile to analyze and determine acceptability of the risk within framework of UFG underwriting policies and procedures.
- Develop and maintain strong relationships with agents/brokers.
- Oversee a book of contract surety business within defined territory. Meet production, marketing, and profitability goals and develop marketing plan using the territory management tool.
- Upload and update file information electronically and purge obsolete data per department guidelines.
- Handles all confidential information with discretion.
- Provide high quality customer service in all interactions with internal and external customers.
- Request underwriting information from agencies. Review and process information received.
- Perform annual review of accounts including financial analysis, obtaining current bank line of credit letters, preparing profiles, and recommendation of line of authority.
- Instruct, assign, and review work completed by support staff.
- Create record of communications concerning activities per department standards.
- Provide training, direction, and assistance to underwriters, associate underwriters, and underwriter trainees.
- Stay current on industry information regarding trends, competition, pertinent laws and legal occurrences, etc., and share the information with the department.
Job Specifications:
Education:
- Bachelor’s degree, or combination of education and surety experience.
- Bachelor’s degree in business administration, economics, finance or accounting preferred.
Certifications/Designations:
- Certified, or working towards, AFSB designation.
- Must have a valid and current drivers’ license and must have acceptable driving record in accordance with Company practice.
- Employees are expected to participate in continuing education throughout their careers.
Experience:
- 5+ years of contract surety underwriting experience.
Working Conditions:
- General office environment.
- Up to 25% of travel is required, by accompanying surety representatives to visit agency force and contract accounts. Overnight trips included.
- May be exposed to weather conditions, and/or results and debris of adverse weather conditions, during agency/contract visits.
Pay Transparency Statement:
UFG Insurance is committed to fair and equitable compensation practices. The base salary range for this position is $103,222, - $136,105 annually, which represents the typical range for new hires in this role. Individual pay within this range will be determined based on a variety of factors, including relevant experience, education, certifications, skills, internal equity, geography and market data.
In addition to base salary, UFG Insurance offers a comprehensive total rewards package that includes:
- Annual incentive compensation
- Medical, dental, vision & life insurance
- Accident, critical Illness & short-term disability insurance
- Retirement plans with employer contributions
- Generous time-off program
- Programs designed to support the employee well-being and financial security.
This pay range disclosure is provided in accordance with applicable state and local pay transparency laws.
What We Do
Founded in 1946 as United Fire & Casualty Company, UFG Insurance (Nasdaq: UFCS) is engaged in the business of writing property and casualty insurance through its insurance company subsidiaries. Headquartered in Cedar Rapids, Iowa, UFG is licensed as a property and casualty insurer in 50 states, plus the District of Columbia, and is represented by approximately 1,000 independent agencies. A.M. Best Company assigns a financial strength rating of “A-” (Excellent) for the members of United Fire & Casualty Group, with a stable outlook, reflecting long-term balance sheet strength.
