Senior Underwriter: Cyber, London

We are seeking an experienced Cyber Senior Underwriter with relevant experience to join our team in Strategic Assets to underwrite Cyber risks. We are looking for an individual with strong broker relationships, good product and sector knowledge, and ideally experienced in wording negotiations. You will be underwriting Cyber risks on both primary and excess basis for a wide range of industries for mid to large companies globally aligned with the company’s appetite.

About the Department & Team:

Strategic Assets underwrites a specialist class of business focused on the insurance of intangible assets and non-physical perils, including Cyber and Intellectual Property Insurance. The team was established in and writes risks on a global basis using both Company and Syndicate capacity, with a strong focus on underwriting controls, wordings, and claims handling.

Key Responsibilities:

Strategy and Planning

• Follow the annual business plan for the Underwriting division in order to make appropriate decisions.
• Contribute and participate in all meetings to share and develop strategy, knowledge, and best practice.
• Contribute as and when required to the planning process through research and preparation of relevant materials.

Delivery

• Maintain relationships with customers, brokers, business partners, reinsurers, and colleagues to maximise influence and achieve business objectives.
• Develop knowledge of market dynamics and market cycles to support the performance of the underwriting team.
• Underwrite insurance risks in accordance with the business plan and personal authority to meet business objectives, including:
  1. Negotiating rates, terms, and conditions for existing and new business.
  2. Compliance with the production and issue of documentation in accordance with contract certainty requirements.
• Support the review and analysis of the portfolio to identify progress towards business objectives.
• Process entries, as required, properly onto relevant systems in a timely manner ensuring accuracy of data with relation to both underwriting and aggregate exposures.

Policy, Process and Procedures

• Compliance with all applicable internal and external laws, regulations, policies, procedures, and guidance.
• Adhere to underwriting standards, instructions, and best practice methodology to minimise risk.
• Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy is core to LSM’s commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

Skills and Experience:

• Extensive knowledge of relevant market conditions.
• Knowledge of legal and regulatory requirements.
• Thorough understanding of cyber underwriting and reinsurance.
• Numeracy and literacy skills.
• Analytical skills.
• Organisational and prioritisation skills.
• Ability to analyse and use data for decision making.
• People management – ability to engage and lead a team.
• Significant experience gained within the insurance industry.
• Use of risk profiling and pricing tools and loss models.

About Liberty Specialty Markets (LSM):

Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.

Our people are key to our success. That is why “Put People First” is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

• Offering a vibrant and inclusive environment and committing to their career development.
• Promoting diversity, equity, and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
• Reinforcing that collaborating together to share our unique perspectives helps us make better decisions, deliver innovative solutions, and pursue our ambitious goals.
• A supportive culture, which includes promoting a healthy work-life balance and working flexibly.

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