Job Title: Commercial Underwriter
Location: 505 Hwy 7 #311, Thornhill, ON L3T 7T1 or 163 Centennial Parkway North, Hamilton
Employment Type: Full-time / Permanent
Salary: $55,000 – $65,000
Reason for Vacancy: Replacing existing vacancy
Who we are:
Established in 2008, My Insurance Broker is a proud family-owned and Canadian-operated brokerage. As one of Ontario's fastest-growing online brokerages, we have forged strong partnerships with Canada's leading insurance companies. With multiple offices across Southern Ontario and a dedicated support center in Richmond Hill, we are committed to delivering superior pricing, comprehensive coverage, and exceptional service to our clients.
About the role:
The Commercial Lines Underwriter plays a critical role in assessing risks, evaluating insurance applications, and making informed underwriting decisions on new business, renewals and endorsement submissions. They will ensure the profitability of the company's portfolio by balancing risk selection and providing competitive insurance solutions. This role requires strong analytical skills, attention to detail, and the ability to build strong relationships with our broker partners.
What you’ll be doing:
Underwriting & Risk Assessment
- Review and analyze commercial insurance applications across designated market segments and manage policy submissions, ensuring alignment with underwriting guidelines, risk appetite, and company objectives.
- Underwrite a variety of commercial lines submissions to provide tailored insurance solutions for brokers, ensuring adherence to departmental guidelines and contributing to a profitable business portfolio.
- Assess risks associated with each application by considering factors like loss history, risk details, industry trends, and risk mitigation protocols.
- Leverage third-party tools and resources such as Google Maps and integrated risk-rating software to collect accurate data and conduct thorough due diligence.
- Establish terms and conditions of coverage including premiums, deductibles, and exclusions while maintaining market competitiveness. Apply underwriting guidelines specific to each program segment, recognizing that rates and conditions vary by segment.
- Apply established pricing structures and underwriting guidelines to calculate premiums and generate accurate quotes. Follow-up on outstanding quotes with brokers.
- Review renewals to identify and apply any necessary exclusions or restrictions in accordance with program guidelines.
Documentation & Communication
- Prepare clear and concise underwriting documentation to explain the rationale behind each decision. Ensure underwriting decisions are communicated effectively with brokers.
- Provide support to brokers by addressing underwriting inquiries both in writing and verbally.
Compliance & Professional Development
- Stay informed about industry trends, emerging risks, and regulatory changes including participation in ongoing professional development opportunities.
- Ensure compliance with regulatory requirements and company policies while maintaining a high level of professionalism in all underwriting practices.
- Perform other duties as required.
What we need you to bring:
- College or University level Degree or comparable experience.
- RIBO License or willing to obtain within the first year of employment (if applicable).
- CIP or CAIB Certification or working towards its completion is considered an asset.
- 3 - 5 years’ of work experience in a commercial lines department at an Insurance Brokerage, Managing General Agency and/or Insurance company in a similar role.
- Experience working with EPIC is considered an asset.
- Experience working with Acturis is considered an asset.
- Demonstrated ability to handle multiple priorities successfully.
- Excellent verbal and written communication skills.
- Strong analytical, time management and organizational skills.
My Insurance Broker is an equal opportunity employer committed to fostering an inclusive, respectful, and diverse workplace. We are committed to providing accommodation upon request for applicants and employees with disabilities, in accordance with the Ontario Human Rights Code and the Accessibility for Ontarians with Disabilities Act (AODA). If you require accommodation at any stage of our hiring process, please inform us and we will work with you to meet your needs.
Your application will be reviewed by a member of our recruitment team who will carefully assess your qualifications - never AI. We thank all candidates for their interest, however, only those selected for an interview will be contacted.
