An Excess Casualty Underwriter specializing in Real Estate plays a pivotal role within the team, focusing on the assessment, management, and pricing of high-limit liability coverage for large-scale real estate portfolios, property management firms, family companies, and institutional investors. This professional is responsible for evaluating complex risk profiles, structuring robust insurance programs, and ensuring profitability while meeting clients’ evolving needs within a dynamic marketplace.
Key Responsibilities - Risk Assessment and Analysis:
- Conduct thorough reviews of real estate risk submissions, including property types (commercial, residential, industrial, mixed-use), historical loss data, occupancy rates, lease agreements, and geographic exposures.
- Analyze loss trends, safety practices, construction types, fire protection systems, and other pertinent data to determine the quality of risk.
- Assess the adequacy of underlying liability coverage, gap exposures, and potential for catastrophic losses.
- Stay informed of emerging risks in the real estate sector, such as green building liabilities, climate-related exposures, cyber vulnerabilities (smart building systems), and social risks.
- Underwriting and Pricing:
- Develop and propose terms, conditions, and pricing for excess casualty policies, in alignment with company guidelines and target profitability metrics.
- Negotiate with brokers to structure excess liability layers, attachment points, and coverage enhancements.
- Utilize proprietary models, rating tools, and market intelligence to make informed underwriting decisions and support rate adequacy.
- Document underwriting rationale and ensure accurate policy issuance.
- Portfolio Management:
- Manage an assigned book of business, ensuring diversification and avoiding over-concentration in any one client, location, or risk profile.
- Monitor portfolio performance, loss ratios, and profitability, taking corrective actions where necessary.
- Participate in regular reviews and processes to validate underwriting practices and compliance.
- Broker and Client Relationship Development:
- Build and maintain strong relationships with brokers, real estate clients, property managers, and risk managers.
- Provide market insights, thought leadership, and consultative expertise to clients seeking innovative liability solutions.
- Participate in client meetings, renewal negotiations, and industry conferences to advance the company’s presence within the real estate insurance market.
- Collaboration and Teamwork:
- Work closely with internal teams including to deliver comprehensive solutions.
- Collaborate with colleagues to develop new products, endorsements, and coverage enhancements tailored to real estate risks.
- Mentor junior underwriters and participate in training programs.
- Regulatory and Compliance:
- Ensure underwriting practices adhere to state, federal, and international regulations relevant to the insurance and real estate industries.
- Maintain detailed records in accordance with audit and compliance requirements.
- Stay current on legal and regulatory changes impacting liability insurance and property management.
Required Qualifications - Education: Bachelor’s degree or relevant industry experience is required. Industry designations (CIC, CRM, CPCU, ARM) are preferred.
- Experience: Minimum of 5-7 years in casualty underwriting, with a demonstrated focus on excess liability and/or real estate risks. Experience with complex, layered insurance programs and familiarity with the real estate sector is strongly preferred.
- Technical Skills:
- Expertise in risk analysis and exposure modeling.
- Strong negotiation and analytical skills, with the ability to balance risk and reward.
- Proficiency in Microsoft Office Suite, insurance and data analytics platforms.
- Soft Skills:
- Exceptional communication (verbal and written) and presentation skills.
- Detail-oriented with strong organizational and time management abilities.
- Proactive problem-solving approach and adaptability in a fast-paced environment.
- Demonstrated ability to work independently and within cross-functional teams.
- Licensing: State broker/producer licenses are required or required to obtain within 6 months of hire.
Work Environment
The role may be office-based or hybrid, or fully remote, depending on the candidate, with regular travel possible for team and client meetings, industry events. The position requires autonomy, accountability, and a proactive approach to managing a portfolio of complex risks.
Conclusion
The Excess Casualty Underwriter for Real Estate is an expert practitioner—balancing technical risk assessment, business acumen, and client partnership. Through careful analysis, innovative coverage solutions, and a commitment to excellence, this professional supports the stability and growth of both clients and insurers in the ever-evolving real estate landscape.
