Job details

Underwriting Trainee

Get a free resume review

Company Details

Berkley Luxury Group has been a mainstay in the commercial real estate and hospitality business since 1986. We specialize in luxury condominiums, cooperatives, and apartments in the habitational space, Class A Office buildings and fine dining restaurants in the hospitality space. BLG maintains a standard of prompt and fair settlement of claims, and endeavors to treat insureds and brokers in a partnership-like manner.

BLG has developed a strategic plan to grow their success by expanding their footprint geographically and adding complementary products. At BLG there is a shared vision to be the best option for its customers. We aim to provide comprehensive insurance solutions, use enhanced data and technology to make more informed decisions and rely on a field-based underwriting, claims and loss control model to be closer to our customers and brokers. Our goal is to provide superior services and products to these unique businesses.

At Berkley Luxury Group, our employees are our most important asset. We recognize that if we properly support and develop our employees, they will become our primary sustainable competitive advantage and the key to achieving success. As such, we have created a high performing culture incorporating our values into work practices, policies, and processes to foster, reinforce and sustain an environment where employees share a strong sense of purpose, commitment, and motivation to meet and exceed their goals.

As a Berkley company, we enjoy operational flexibility that allows us to deliver quality coverage solutions. W. R. Berkley Corporation, and all member insurance companies, are rated A+ (Superior) by A.M. Best Company and carry Standard & Poor’s Financial Rating of A+ (Strong).

The company is an equal employment opportunity employer.

Responsibilities

This Commercial Property/Casualty Underwriting Trainee is an entry level position that allows recent college graduates or individuals with limited professional experience to participate in a property/casualty specific training program. Under the supervision of the VP of Underwriting, training will consist of a combination of reading assignments, on-the-job training and off-site meetings as part of the WRB Corporate Trainee Program.

The first stage of training will provide a general overview of P&C as well as basic financial analysis. The next stage will focus on learning how to underwrite (analyze and assess) the projected profitability of commercial real estate, luxury condominiums and apartments in addition to fine dining restaurants and hospitality risks.

By the end of the program, the individual will be able to make preliminary recommendations on existing portfolio risks as well as new account submissions. Following successful completion of the program the trainee will be transitioned into a full-time underwriting position.

Duties and responsibilities include, but are not limited to:

Complete reading and study assignments on P&C Insurance
Perform basic analysis of property and liability risk Review analysis with direct manager.
Assist in maintenance of underwriting files according to company guidelines.
Conduct initial evaluation of new account submissions in an effort to assess risk.
Communicate findings and recommendations to direct manager in a thoughtful and logical manner.
Develop the ability to communicate effectively on technical topics in both written and oral format, establish a working rapport with external broker partners, Field and Home Office personnel, exhibit good listening skills and the capacity to gain knowledge and expertise with additional experience and further training.

Qualifications

Must be able to participate in person during the training program offered
Demonstrates strong analytical ability and intellectual curiosity
Effective oral and written communication skills so that others will clearly understand the content and the intent of the discussion/correspondence.
Ability to work independently and in a team environment
Self-motivation and an out-going orientation to work with customers and associates
Minimum 4-year degree or 1+ years of work experience

Additional Company Details

We do not accept any unsolicited resumes from external recruiting agencies. The company offers a competitive compensation plan and robust benefits package for full time regular employees. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment.

Average salary estimate

$70000 / YEARLY (est.)

min

max

$60000K

$80000K

If an employer mentions a salary or salary range on their job, we display it as an "Employer Estimate". If a job has no salary data, Rise displays an estimate if available.

What You Should Know About Underwriting Trainee, Berkley

Are you ready to kick-start your career in the insurance industry? Berkley Luxury Group is looking for an enthusiastic Underwriting Trainee to join our team in Rutherford! For over three decades, we've been leaders in commercial real estate and hospitality insurance. As part of our commitment to fostering growth and excellence, we are excited to offer this entry-level position to recent college grads or those with limited experience. In this role, you will embark on a structured training program under the guidance of our VP of Underwriting. You'll dive into the world of property and casualty insurance, exploring key concepts through reading assignments as well as practical, on-the-job training. From analyzing the profitability of luxury condominiums to assessing risks for fine dining establishments, you’ll gain valuable insights that will set you on the path to a successful underwriting career. By the end of this exciting journey, you'll be prepared to make informed decisions on existing portfolio risks and new account submissions. At Berkley Luxury Group, we value our employees as our greatest asset, and we are dedicated to creating an environment where they can thrive. Join us and become part of a high-performing culture that prides itself on superior service, innovation, and a strong sense of purpose. If you're eager to learn and grow within a company rated A+ by A.M. Best Company, then we want to hear from you!

Frequently Asked Questions (FAQs) for Underwriting Trainee Role at Berkley

What are the responsibilities of an Underwriting Trainee at Berkley Luxury Group?

As an Underwriting Trainee at Berkley Luxury Group, you'll participate in a comprehensive training program that includes reading assignments, studying property and casualty insurance, and practical, hands-on analysis of commercial risks. Your responsibilities will include assisting with underwriting files, evaluating new account submissions, and effectively communicating findings with your manager, all while developing relationships with external brokers and team members.