Economical is part of Definity, which includes some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. Our ambition is to be one of Canada’s leading and most innovative property and casualty insurers. We can’t do that without our people, so we embrace and encourage a culture that’s collaborative, ambitious, rewarding, and empowering.
We offer a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Bring your true self and be a part of our journey. It’s better here.
The successful candidate for this role is accountable for providing high quality underwriting of complex accounts which include high hazard risk exposures. The Underwriter is responsible for adhering to department guidelines and remaining within their authority limits as assigned. Application of underwriting judgement will contribute to the profitable portfolio of accounts within Specialty Lines.
What can you expect in this role?
- Assessing the risk and accepting or declining new business submissions, policy changes and renewals.
- Analyze risks that have a high potential to generate severe losses or high loss frequency.
- Underwrite business that does not qualify to be written through the regular branch.
- Apply a high level of underwriting judgement that is developed through the handling of high exposure risks.
- Order and analyze inspections, financial reports, location intelligence, NatCat exposures and other rating tools to use in the decision-making process for a risk.
- Negotiate terms and conditions of risk acceptance and pricing at the highest level.
- Handle high risk segment business.
- Other duties include production calls on brokers, assisting in field underwriting of accounts, attending industry functions, mentoring junior staff and conducting business development duties as required.
What do you bring to the role?
- Demonstrated high level understanding of commercial property risks.
- Strong MS Excel skills.
- Proven knowledge of regional nuances and coverage differences for all regions across Canada.
- University degree or college diploma required.
- CIP designation is an asset.
- Ideally (4-5) years’ experience underwriting a wide variety of risks.
- High level understanding of regional differences and insurance regulations across Canada.
- Experience with cross-border and multinational placements.
- Able to quote new business, make policy changes and issue renewals. Need to be able to maintain corporate service standards.
- Able to negotiate with brokers, able to build new relationships quickly and have a solid understanding of the action’s insurers take and the impact on brokers and their clients.
- Excellent communication and organizational skills.
- Detail-oriented and strong problem-solving skills with the ability to gather information and analyze and solve through complexities.
Knowledge of insurance products is an asset.
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$66,300 - $122,100
Interested in this role, but don’t meet every requirement? We encourage you to apply! We know from experience that a candidate doesn’t need 100% of the qualifications listed to bring incredible value to our team. We’re actively seeking diverse backgrounds and perspectives to help us make insurance better. At Definity, inclusion, diversity, and equity aren’t just “nice to have” — they’re essential to our success.
What’s in it for you?
- Hybrid work schedule for most roles
- Company share ownership program
- Pension and savings programs, with company-matched RRSP contributions
- Paid volunteer days and company matching on charitable donations
- Educational resources, tuition assistance, and paid time off to study for exams
- Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents
- Wellness and recognition programs
- Discounts on products and services
Actual salary for the role may vary depending on work location of the successful candidate and other factors including but not limited to, skills, education, experience, working conditions and the local labour market. In addition to base pay, eligible employees may participate in various incentive plans which are paid out at the discretion of the company and subject to individual and company performance.
Go ahead and expect a lot — you deserve it.
It’s better here — but don’t take our word for it. Definity was named by Great Place to Work ® as one of the Best Workplaces™ in Canada for women, for youth, and for inclusion.
Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting [email protected] .
Background checks
This role requires successful clearance of background checks (including criminal checks and leadership references).
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