We are currently looking for a Lloyd’s Underwriter to join our team you can be located either in our Burnaby or Victoria office. Lloyd’s Underwriter is responsible for the profitable underwriting, quoting, binding, issuance, and ongoing management of specialty insurance business written under Lloyd's Delegated Authority arrangements. The role is accountable for risk assessment, pricing, coverage analysis, policy administration, broker relationship management, compliance oversight, and portfolio performance.
Wilson M. Beck Insurance Services Inc. is one of the largest privately held construction focused brokerage in Western Canada. WMB has dedicated teams focused exclusively on insurance, surety, warranty, and risk management services. Since 1981 we have grown to employ over 300 people in 10 geographic locations: Vancouver Specialty, Burnaby, Surrey, Fraser Valley, Okanagan (Kelowna), Kamloops, Northern BC (Prince George), Victoria, Calgary, & Ontario Specialty.
When you join the Wilson M. Beck family you collaborate with a team full of diverse knowledge and experience. At Wilson M. Beck, our employees are the foundation of our organization. Together, through our commitment and passion for our clients, we have built our reputation as a respected industry leader in insurance services. Our strength is our people and their expertise – We Care. We Help.
Key Responsibilities
Underwriting, Risk Assessment & Pricing
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Review and evaluate new business submissions, renewals, and policy amendments.
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Analyze risk exposures, coverage requirements, and underwriting information.
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Determine appropriate pricing, terms, conditions, deductibles, and coverage structures.
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Apply underwriting judgment to ensure profitable risk selection and retention.
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Underwrite risks within delegated authority levels and established underwriting guidelines.
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Refer risks outside authority limits as required.
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Maintain detailed underwriting documentation supporting pricing and coverage decisions.
Policy Quoting & Binding
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Prepare and deliver quotations for new and renewal business.
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Negotiate pricing, terms, and conditions with brokers and stakeholders.
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Bind risks in accordance with delegated authority agreements and underwriting authority levels.
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Ensure all bound business complies with Lloyd's and Company requirements.
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Meet established service standards and turnaround times.
Policy Issuance & Documentation
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Prepare, review, and issue policies, certificates, schedules, cover notes, and related documentation.
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Ensure policy documentation accurately reflects bound coverage.
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Verify the completeness and accuracy of underwriting records and supporting documentation.
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Maintain organized and audit-ready underwriting files.
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Resolving documentation discrepancies promptly and accurately.
Endorsements & Mid-Term Policy Changes
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Review and process endorsements, cancellations, reinstatements, and mid-term coverage amendments.
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Assess underwriting implications and premium impacts associated with policy changes.
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Prepare and issue revised policy documentation.
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Ensure system records accurately reflect all changes.
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Communicate amendments and premium adjustments to brokers and stakeholders.
Renewals & Portfolio Management
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Manage an assigned portfolio of business to achieve retention, growth, and profitability objectives.
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Conduct comprehensive renewal reviews including loss history, exposure changes, and market conditions.
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Prepare renewal quotations and negotiate terms as required.
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Monitor portfolio performance and identify opportunities for growth and improvement.
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Support achievement of underwriting and business development objectives.
Lloyd's Compliance & Delegated Authority Management
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Ensure compliance with:
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Lloyd's standards and requirements.
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Delegated authority agreements and binding authorities.
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Regulatory and licensing obligations.
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Internal underwriting and compliance procedures.
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Privacy, cybersecurity, and record retention requirements.
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Support Lloyd's reporting requirements, including bordereaux and audit requests.
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Participate in internal and external audits.
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Identify and escalate compliance concerns and operational risks.
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Maintain current knowledge of Lloyd's market developments and regulatory changes.
Broker & Stakeholder Relationship Management
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Develop and maintain strong relationships with brokers, Coverholders, markets, and internal stakeholders.
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Provide technical underwriting expertise and support.
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Act as a trusted advisor to brokers and business partners.
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Participate in broker meetings, business development initiatives, and market engagement activities.
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Promote strong service standards and responsive communication.
Billing & Settlement Coordination
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Review premium calculations and billing information for accuracy.
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Coordinate with accounting regarding premium transactions, return premiums, adjustments, and settlements.
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Assist with reconciliations and financial reporting requirements.
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Monitor outstanding premium issues and support timely resolution.
Systems & Data Management
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Maintain accurate underwriting data within policy administration and underwriting systems.
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Ensure the integrity, completeness, and accuracy of underwriting records.
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Generate reports and management information as required.
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Support process improvements and system enhancements.
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Adhere to information governance and data management standards.
Qualifications
Education
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Chartered Insurance Professional (CIP) designation required or actively pursuing completion.
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FCIP, CRM, and other advanced insurance designation considered an asset.
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Post-secondary education in business, finance, risk management, or a related field preferred.
Experience
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Minimum 3 years of commercial insurance underwriting experience.
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Direct experience working within a Lloyd's Delegated Authority, Coverholder, MGA, or Program underwriting environment is required.
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Experience underwriting business under delegated authority agreements and binding authorities.
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Experience with Lloyd's policy issuance, endorsements, renewals, compliance requirements, and bordereaux reporting.
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Demonstrated experience managing broker relationships and an assigned portfolio of business.
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Experience with policy administration systems and underwriting platforms.
Knowledge & Skills
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Strong understanding of Lloyd's Delegated Authority operations and Coverholder business.
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Advanced underwriting and risk assessment expertise.
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Knowledge of Lloyd's compliance requirements, reporting standards, and audit expectations.
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Strong understanding of policy wording, endorsements, coverage interpretation, and underwriting documentation.
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Excellent analytical, negotiation, and decision-making skills.
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Strong relationship management and business development capabilities.
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Exceptional written and verbal communication skills.
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High attention to detail and commitment to accuracy.
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Strong organizational and time management skills.
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Proficiency with underwriting systems and Microsoft Office applications.
COMPENSATION
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The expected salary range for this position is $75,000 to $90,000 and will be impacted by factors such as the successful candidate's skills, experience and working location, as well as the specific position's business line, scope, and level.
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Company Benefits program
What We Offer:
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Competitive salary and benefits programs.
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Professional development training/courses.
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A great collaborative work environment.
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We are firm believers in the health and wellness of our staff and provide on-site resources and services to encourage and support this.
