Underwriting - D & O, E & O and professional liabili

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PostPosted: Wed Nov 14, 2007 1:50 am   Post subject: lawyer attempting to transition into underwriting  

Does anyone know how an attorney with extensive claims handling experience can transition into underwriting. I am particularly interested in D & O, E & O and professional liability. I do not have a finance or accounting background. Thanks for your help.


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Mouthpiece
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PostPosted: Wed Nov 14, 2007 7:26 am   Post subject: Just a few things..  

Hi there!



Since you're an attorney & possess a good bit of expertise regarding the handling of insurance claims, hence i do have reasons to believe that it could be a bit easier for you than a fresher but yeah you need to be updated about the front.



As far my knowledge goes, you'd be involved in some of the key tasks of an underwriter such as underwriting for fresh & renewed businesses, ascertain the information based on the quotation stage with that of the renewal & reply to all brokers accordingly, comprehend the clauses, terms & endorsements properly & use them whenever required.



Also understanding the different conditions associated with reinsurance etc. will be an added advantage to you! Hope I have informed you correctly



Norma_Hepburn


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Norma_Hepburn
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PostPosted: Wed Nov 14, 2007 9:14 am   Post subject: file management  

My friend, whatever be it you'd need to remain updated about the electronic data-processing systems associated with the job of an underwriter. You need to make sure that you're quick at responding & perform your entires correctly. You need to learn the process of maintaining good quality files (the file management system) as also maintain the record of all your interactions with the brokers, staffs & external parties. Your sincerity, productivity & approach has to be unique & still be guided by the rules governing the underwriters' authority. Thanks, Parenthesisbyalgo


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Parenthesisbyalgo
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PostPosted: Wed Nov 14, 2007 9:19 am   Post subject:   

hi...I just felt like this info might be of any help to you - malayan.com/do.html


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anonym-me
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PostPosted: Wed Nov 14, 2007 9:31 am   Post subject:   

Dear, think before you join one ->

You'd need to go for the following responsibilites:

* Understand what actually this liability coverage is & how to draw financial statements.

*Develop a good rapport with fellow brokers

*Servicing policies in connection with coverage modifications as per the requests forwarded by the brokers.

*Learn to handle commercial underwriting that involves a good bit of employment procedures as well as communicating with mid-marketing directors.

* Dealing with Errors & Ommissions liability insurance.

* Yes, you'd also be looked for a very proficient computer-n-communications skills.

See if you're prepared to take these said responsibilites you may as well proceed to this link here --> indeed.com/viewjob?jk=b283e44a3b8449ce

Regards,

CarrierCandy


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PostPosted: Wed Nov 14, 2007 10:31 am   Post subject:   

Good morning Mouthpiece, and welcome to the community



An attorney wanting to become an underwriter? Well, I don't think you will have any problems at all. There really isn't anything that you will need to do to transition. All companies I am aware have their own training programs that you must complete after being hired, even if you are experienced in a particular area. You have to learn to do it 'their way'.



I would suggest just getting your resume together and start with some job seeking sites, or better yet go directly to some of the larger insurance companies own sites. They all have career centers in their sites...



Another couple that may prove helpful are:



www.insuranceunderwritingweb.com

http://underwriting.jobs.greatinsurancejobs.com/

www.greatinsurancerecruiters.com



That ought to be enough to get you started! Laughing



I gotta ask though, why? Surely you know the income of an underwriter will be substantially less than you can make as a practicing attorney. You know of course that most companies also have staff attorneys right? Good luck, and if you are so inclined, let this nosy old lady know why the change Wink



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Lori
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Lori
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