Position Overview:

The Senior Cyber Underwriter is responsible for assessing and underwriting complex cyber insurance risks, developing tailored solutions for clients, and driving the growth of the cyber insurance portfolio. This role involves a deep understanding of cybersecurity risks, industry trends, and regulatory requirements. The Senior Cyber Underwriter will work closely with brokers, clients, and internal teams to deliver competitive and comprehensive insurance solutions.

Key Responsibilities:

1. Risk Assessment and Underwriting:
   

   • Evaluate and analyze complex cyber insurance risks presented by brokers and clients.
     
   • Assess the client’s cybersecurity posture, including data protection practices, incident response capabilities, and overall risk exposure.
     
   • Determine appropriate terms, conditions, and pricing based on risk assessments and market dynamics.
     

2. Portfolio Management:
   

   • Contribute to the development and management of the cyber insurance portfolio to ensure profitability and compliance with underwriting guidelines.
     
   • Monitor portfolio performance, identify trends, and adjust underwriting strategies as needed.
     
   • Collaborate with actuarial teams to analyze data and refine pricing models.
     

3. Market and Product Development:
   

   • Stay informed about emerging cyber threats, technological advancements, and industry regulations.
     
   • Assist in the development of new cyber insurance products or enhancements to existing offerings.
     
   • Provide input into policy wording to ensure clarity and comprehensiveness for clients.
     

4. Broker and Client Engagement:
   

   • Build and maintain strong relationships with brokers and key clients to support business development and retention.
     
   • Provide guidance to brokers on risk mitigation and suitable coverage options.
     
   • Attend client and broker meetings to present solutions and explain underwriting decisions.
     

5. Leadership and Mentorship:
   

   • Act as a senior resource for junior underwriters, providing training and mentoring to develop their skills.
     
   • Lead underwriting projects and initiatives within the team.
     
   • Contribute to the establishment of best practices and efficient underwriting processes.
     

6. Regulatory Compliance:
   

   • Ensure underwriting practices comply with regulatory and legal requirements.
     
   • Maintain accurate documentation for audits and regulatory reporting.
     

Qualifications and Skills:

1. Education and Experience:
   

   • Bachelor’s degree in Business,
     
   • 5+ years of experience in underwriting, with a strong focus on cyber insurance or technology-related risks.
     

2. Technical Knowledge:
   

   • Deep understanding of cyber risks, including ransomware, data breaches, business interruption, and evolving threat landscapes.
     
   • Familiarity with cybersecurity frameworks and best practices (e.g., NIST, ISO 27001).
     
   • Knowledge of reinsurance structures and risk transfer mechanisms.
     

3. Certifications (Preferred):
   

   • Chartered Insurance Underwriter (CII) or equivalent certification.
     
   • Certified Information Systems Security Professional (CISSP) or similar cybersecurity certifications.
     
   • ARM (Associate in Risk Management) or other risk-related qualifications.
     

4. Skills and Competencies:
   

   • Strong analytical and decision-making skills, with the ability to evaluate complex risks.
     
   • Excellent communication and negotiation abilities.
     
   • Proficiency in interpreting technical cybersecurity information and translating it into underwriting terms.
     
   • Organized and detail-oriented, with the ability to manage multiple tasks effectively.
     

5. Additional Skills:
   

   • Experience with cyber insurance pricing models and tools is highly desirable.
     
   • Ability to work collaboratively with cross-functional teams, including actuarial, claims, and product development.