Job Details

Property Engineering Energy Underwriter - Construction

We're adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. We will consider a range of experience for this role and the offer will be commensurate with that.

The Company

As a member of Munich Re's U.S. 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, specialty 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. By aligning our single‑risk business in one unified team we 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

Future‑focused and always one step ahead.

The Engineering & Energy business units of Munich Re F&C (Facultative & Corporate) provide custom‑made insurance solutions to the power, energy and construction industries. For the U.S. Corporate Engineering & Energy team, we are looking for a qualified construction underwriter who will be tasked with underwriting large builders‑risk placements. This role is preferably based out of one of the following office locations: New York, Chicago, Houston, San Francisco, or Atlanta.

Apply specialized EAR and CAR underwriting risk‑analysis skills and insurance knowledge to adequately assess the potential exposures for construction risks underwritten in the Munich Re Facultative & Corporate Property (MRF&C) U.S. Corporate Engineering & Energy Division. Determine the appropriate terms and conditions, consider risk‑sharing acceptances, manage a growing pipeline of construction submittals and assist where necessary on power‑gen & renewable energy, down/midstream energy and specialty‑chemical risk accounts within the portfolio. Deliver superior construction underwriting to MRF&C U.S. Corp. Engineering & Energy clients and contribute to its overall profitability.

Responsibilities

Underwriting/Management

• Produce, underwrite and manage a portfolio containing a variety of civil, energy and power construction projects per risk appetite through contacts with retail and wholesale insurance brokers, risk purchasing groups and captives.
• Accept engineering (power‑gen & construction) 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, per the underwriting guidelines and mandates.
• Implement pricing and layering models of the MRF&C Energy and the Munich Re rating and drive modifications when necessary.
• Support and recommend changes to the engineering & energy underwriting guidelines as needed.
• Work within the referral audit process with overall adherence to risk selection and pricing techniques developed for MRF&C engineering & energy.
• Support, recommend and develop new products and filings to satisfy client needs using underwriting experience for program development.
• Drive policy‑form enhancements and rating tools, and innovate with respect to distribution channel choices.
• Be a support/referral resource to other distribution channels and client groups, providing construction underwriting expertise and input.
• Negotiate and conclude offers, terms of contract with brokers/clients and, when necessary and feasible, submit counter‑proposals.
• Analyze and evaluate distribution of limits, attachment points and layers for engineering & energy business to maximize profitability potential.
• Track and monitor loss development for construction portfolios, keep current on industry loss trends and work with the claims department as needed.

Marketing

• Establish and maintain sound contact with clients, keeping abreast of market developments and client needs.
• Provide engineering & energy products and services to maximize and develop new/existing business opportunities.
• Promote MRF&C engineering & energy capabilities and competencies.

Seminars and Media

• Participate as a speaker and/or trainer at appropriate construction‑related industry seminars/workshops.
• 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 (aka energy, power & construction) in fulfilling all managerial and administrative duties of the MRF&C U.S. Corporate Engineering & Energy.

Qualifications

• Bachelor's Degree with preference in a technical field (engineering).
• 10+ years practical industry experience preferred.
• Knowledge of internal processing procedures and systems would be 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.

Locations

All locations: New York, Atlanta, Chicago, Princeton, Houston, San Francisco – preference for those listed in the opportunity section.

Compensation and Benefits

• Base salary range: $174,200 – $290,300 plus company bonus based on a percentage of eligible pay.
• Health insurance: PPO or high deductible plan; prescription drug coverage included.
• Vision and dental insurance plans.
• Basic life insurance equal to 1x annual salary; accidental & disability coverage equal to 1x annual salary.
• Short‑term and long‑term disability coverage.
• Supplemental life and accidental & disability plans for employees and dependents.
• Voluntary benefit plans (accident, critical illness, hospital indemnity).
• 401(k) plan with up to 5% employer match.
• Retirement savings plan that is 100% company funded.
• Paid time off: 24 days per year, with additional days for milestone service anniversaries.
• Eligibility for a yearly bonus as a Munich Re employee.
• Health and wellness programs provided at no cost.
• Paid time off for family care needs.
• Tuition assistance and educational achievement bonuses.
• Corporate matching gifts program.
• Paid time off to volunteer in the community.

Diversity, Equity & Inclusion

At Munich Re, we see diversity, equity and inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day.

Equal Opportunity Statement

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.