Underwriter 1 - Recreational Marine

Position Summary

The Underwriter I is responsible for evaluating, selecting, pricing, and managing new and renewal marine risks within assigned underwriting authority. The role analyzes submissions, recommends or determines coverage terms and conditions, supports profitable portfolio growth, and builds productive relationships with brokers, agents, carriers, clients, and internal partners. The underwriter applies company guidelines, sound judgment, and marine product knowledge to deliver responsive service and disciplined underwriting results.

What will your job entail?

Primary Responsibilities

• Underwrite new and renewal marine business in accordance with underwriting guidelines, risk appetite, delegated authority, carrier requirements, and applicable laws and regulations.

• Review applications, loss information, exposure data, inspections or surveys, financial information, policy forms, endorsements, and other submission materials; request additional information when needed.

• Assess risk characteristics and accumulation or catastrophe exposure, then accept, modify, refer, or decline risks within established authority.

• Determine or recommend appropriate limits, deductibles, rates, premiums, terms, conditions, exclusions, subjectivities, and coverage structure.

• Prepare and communicate quotes, indications, bind requests, declinations, and renewal terms accurately and within service expectations.

• Manage an assigned portfolio by monitoring rate, retention, mix of business, loss activity, exposure changes, and overall underwriting performance.

• Identify opportunities for new business, account rounding, cross-selling, and retention while maintaining underwriting discipline.

• Negotiate coverage and pricing with brokers or agents and explain underwriting decisions, information requirements, and product appetite.

• Maintain complete, accurate, and timely underwriting documentation in designated systems and support policy issuance, endorsements, audits, and file reviews.

• Partner with claims, actuarial, operations, compliance, finance, risk engineering or loss control, legal, and other teams to evaluate risk and improve portfolio outcomes.

• Monitor market conditions, emerging marine exposures, regulatory developments, loss trends, and competitor activity; share relevant insights with the team.

• Participate in broker meetings, client visits, industry events, training, and business planning activities as assigned.

Underwriting Decision Factors

Depending on the product, the role may evaluate factors such as:

• Insured operations, ownership, management experience, controls, and financial condition.

• Cargo type, values, packing, storage, mode of transit, conveyance, routes, territories, and loss-prevention practices.

• Vessel type, age, construction, condition, valuation, flag, class, maintenance, navigation limits, and intended use.

• Operator, crew, or captain experience; contractual risk transfer; legal or regulatory requirements; and third-party exposures.

• Historical loss experience, frequency and severity trends, catastrophe exposure, sanctions or restricted-territory considerations, and concentration of values.

• Reinsurance requirements, referral thresholds, policy wording, and aggregation across related risks.

Qualifications

Required

• Minimum of 3 years of commercial property and casualty underwriting experience; include minimum marine underwriting experience if essential.

• Working knowledge of underwriting principles, policy forms, pricing concepts, exposure analysis, and portfolio management.

• Ability to analyze complex submissions, make timely decisions, document rationale, and operate within delegated authority.

• Strong communication, negotiation, relationship management, organization, and attention to detail.

• Proficiency with underwriting systems, Microsoft Office applications, and data or reporting tools used by the business.

• Ability to obtain and maintain required property and casualty and/or surplus lines licenses in applicable jurisdictions.

Preferred

• Bachelor's degree in insurance, risk management, business, finance, maritime studies, or a related field; equivalent relevant experience may be considered.

• Professional designation such as CPCU, AU, ARM, AMIM, CIC, or another relevant insurance credential preferred, but not required.

• Experience working with wholesale brokers, retail agents, managing general underwriters, carriers, or specialty insurance markets. Chartered Property Casualty Underwriter (CPCU) is a plus.

Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.

How We Support Our Teammates

Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.

The target salary range for this position is $85,855.00 - $100,000.00 annually.

The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.

We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at [email protected]

The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.