Munich Re
Property Engineering Energy Underwriter - Power & Energy
Munich Re, New York, New York, us, 10261
Property Engineering Energy Underwriter - Power & Energy
Join to apply for the Property Engineering Energy Underwriter – Power & Energy role at Munich Re.
The Company As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world’s preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages to niche and specialty reinsurance and insurance products. Munich Re Facultative and Corporate (MR F&C) was created to bundle Munich Re’s facultative and corporate business into one global unit. We believe that by aligning our single risk business in one unified team we will better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.
The Opportunity The Engineering & Energy business units of Munich Re F&C (Facultative & Corporate) provide custom‑made insurance solutions to the power, energy and construction industries. The team is a recognized market leader in these classes of business. For the Munich Re F&C (MRF&C) U.S. Corporate Engineering & Energy team, we are looking for a qualified Power Generation underwriter who will also be tasked with Energy and Construction placements.
Responsibilities
Underwrite for the traditional engineering (power‑gen, renewable energy and construction) and energy (down/midstream energy and specialty chemical) classes of business per risk appetite through contacts with brokers, risk purchasing groups and captives.
Underwriter charged with the responsibility for accepting engineering and energy allocated business.
Perform the underwriting referral function as needed with colleagues and peers in line with established authority for engineering and energy business.
Implement use of pricing and layering models of the MRF&C Energy and the Munich Re rating.
Support changes to the Engineering & Energy Underwriting Guidelines as needed.
Work within the referral audit process with overall adherence to risk selection and pricing techniques.
Develop and support new products and filings to satisfy client needs by using depth of underwriting background/experience for program development.
Enhance policy forms and rating tools, and be innovative with respect to distribution channel choices.
Be a support/referral resource to other distribution channels and client groups, providing energy insurance underwriting expertise and input.
Negotiate and conclude offers, terms of contract with brokers/clients and submit counter proposals when necessary.
Analyze and evaluate our distribution of limits, attachment points and layers of energy business to maximize profitability potential.
Track and monitor assigned accounts including current industry loss trends and work with the Claims department on individual claims.
Marketing
Establish and maintain sound contact with clients, keeping abreast of market developments and client needs.
Provide, in close consultation with the MRF&C Division, Engineering & Energy products and services to maximize business opportunities.
Promote MRF&C Engineering & Energy capabilities and competencies.
Seminars and Media
Participate in appropriate energy industry seminars/workshops as a speaker and/or trainer.
Devise, organize and assist in successful delivery of MRF&C Property Engineering & Energy technical seminars.
Contribute to technical journals.
Participation on Technical Market Committees
Ensure appropriate representation on technical insurance market committees, providing technical input and sourcing key market knowledge.
Assist the manager of Property Engineering & Energy as required in fulfilling all managerial and administrative duties of the MRF&C North America Corporate Engineering & Energy.
Qualifications
Bachelor’s degree with preference in a technical field, i.e. engineering.
7+ years practical power‑gen & energy industry experience preferred.
Knowledge of internal processing procedures and systems highly beneficial.
Negotiation and relationship marketing skills.
Strong computer skills.
Excellent verbal/written, language and communication skills.
Ability to travel nationally and internationally.
Management/leadership skills.
Salary & Benefits
Base salary range $135,600 – $226,100, adjusted per geography.
Opportunity for company bonus based on a percentage of eligible pay.
Health insurance coverage (PPO or high deductible) with prescription drug coverage.
Vision and dental insurance plans.
Basic life insurance equal to 1× annual salary and AD&D coverage equal to 1× annual salary.
Short and long‑term disability coverage.
Supplemental life and AD&D plans available for purchase.
Voluntary benefit plans supplementing health and life insurance (accident, critical illness, hospital indemnity).
Robust 401(k) plan with up to 5% employer match; retirement savings plan fully company‑funded.
Paid time off starting at 24 days per year, increasing with milestone anniversaries.
Eligibility for yearly bonus as a Munich Re employee.
Health and wellness programs provided at no cost.
Paid time off for eligible family care needs, volunteer opportunities, tuition assistance and educational achievement bonuses.
A corporate matching gifts program.
At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. We strive to provide a workplace where all colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services. We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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The Company As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world’s preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages to niche and specialty reinsurance and insurance products. Munich Re Facultative and Corporate (MR F&C) was created to bundle Munich Re’s facultative and corporate business into one global unit. We believe that by aligning our single risk business in one unified team we will better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.
The Opportunity The Engineering & Energy business units of Munich Re F&C (Facultative & Corporate) provide custom‑made insurance solutions to the power, energy and construction industries. The team is a recognized market leader in these classes of business. For the Munich Re F&C (MRF&C) U.S. Corporate Engineering & Energy team, we are looking for a qualified Power Generation underwriter who will also be tasked with Energy and Construction placements.
Responsibilities
Underwrite for the traditional engineering (power‑gen, renewable energy and construction) and energy (down/midstream energy and specialty chemical) classes of business per risk appetite through contacts with brokers, risk purchasing groups and captives.
Underwriter charged with the responsibility for accepting engineering and energy allocated business.
Perform the underwriting referral function as needed with colleagues and peers in line with established authority for engineering and energy business.
Implement use of pricing and layering models of the MRF&C Energy and the Munich Re rating.
Support changes to the Engineering & Energy Underwriting Guidelines as needed.
Work within the referral audit process with overall adherence to risk selection and pricing techniques.
Develop and support new products and filings to satisfy client needs by using depth of underwriting background/experience for program development.
Enhance policy forms and rating tools, and be innovative with respect to distribution channel choices.
Be a support/referral resource to other distribution channels and client groups, providing energy insurance underwriting expertise and input.
Negotiate and conclude offers, terms of contract with brokers/clients and submit counter proposals when necessary.
Analyze and evaluate our distribution of limits, attachment points and layers of energy business to maximize profitability potential.
Track and monitor assigned accounts including current industry loss trends and work with the Claims department on individual claims.
Marketing
Establish and maintain sound contact with clients, keeping abreast of market developments and client needs.
Provide, in close consultation with the MRF&C Division, Engineering & Energy products and services to maximize business opportunities.
Promote MRF&C Engineering & Energy capabilities and competencies.
Seminars and Media
Participate in appropriate energy industry seminars/workshops as a speaker and/or trainer.
Devise, organize and assist in successful delivery of MRF&C Property Engineering & Energy technical seminars.
Contribute to technical journals.
Participation on Technical Market Committees
Ensure appropriate representation on technical insurance market committees, providing technical input and sourcing key market knowledge.
Assist the manager of Property Engineering & Energy as required in fulfilling all managerial and administrative duties of the MRF&C North America Corporate Engineering & Energy.
Qualifications
Bachelor’s degree with preference in a technical field, i.e. engineering.
7+ years practical power‑gen & energy industry experience preferred.
Knowledge of internal processing procedures and systems highly beneficial.
Negotiation and relationship marketing skills.
Strong computer skills.
Excellent verbal/written, language and communication skills.
Ability to travel nationally and internationally.
Management/leadership skills.
Salary & Benefits
Base salary range $135,600 – $226,100, adjusted per geography.
Opportunity for company bonus based on a percentage of eligible pay.
Health insurance coverage (PPO or high deductible) with prescription drug coverage.
Vision and dental insurance plans.
Basic life insurance equal to 1× annual salary and AD&D coverage equal to 1× annual salary.
Short and long‑term disability coverage.
Supplemental life and AD&D plans available for purchase.
Voluntary benefit plans supplementing health and life insurance (accident, critical illness, hospital indemnity).
Robust 401(k) plan with up to 5% employer match; retirement savings plan fully company‑funded.
Paid time off starting at 24 days per year, increasing with milestone anniversaries.
Eligibility for yearly bonus as a Munich Re employee.
Health and wellness programs provided at no cost.
Paid time off for eligible family care needs, volunteer opportunities, tuition assistance and educational achievement bonuses.
A corporate matching gifts program.
At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. We strive to provide a workplace where all colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services. We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
#J-18808-Ljbffr