Medical Malpractice Underwriter

Coverys
Omaha,

Coverys is currently seeking a Medical Malpractice Underwriter for one of our three offices: Omaha, NE; East Lansing, MI; or Boston, MA.

The Underwriter will review insurance applications to evaluate, classify, and rate each risk to determine acceptability, coverage, and pricing by performing the following duties.

Essential Duties & Responsibilities

  • Examines documents such as application forms, inspection reports, past claims, and medical reports to determine degree of risk from such factors as applicant financial standing, business operations, loss experience, and condition of risk.
  • Determines whether to accept, modify, or decline risks.
  • Establishes types and limits of coverage to be provided.
  • Determines if reinsurance is needed and works with supervisor and reinsurers to place reinsurance on policies when risk is high.
  • Calculates standard rates and premium charges by using approved formulas and tables.
  • Decreases value of policy when risk is substandard to limit company obligation, and specifies applicable endorsements, or applies rating to ensure safe and profitable distribution of risks.
  • Works with Supervisor by suggesting new or modified policy wording when standard text is not appropriate.
  • Monitors the limits of liability in force on single risk or group of closely related risks, and evaluates possibility of losses due to catastrophe or excessive insurance.
  • Consults with field representatives, insurance agents, or brokers, and other insurance or inspection companies to obtain further information, quote rates, or explain company underwriting policies.
  • Exhibits knowledge of Insurance and Healthcare Industry, including medical, legal and insurance terminology.