New Job Opening: Cyber Facultative Underwriter in Chicago, IL

Job Description

Cyber Facultative Senior Underwriter

Job Summary

Seeking a highly skilled and experienced Cyber Facultative Senior Underwriter to join a growing cyber reinsurance team. This role is pivotal in underwriting complex facultative cyber reinsurance opportunities, encompassing both domestic and multinational risks. The successful candidate will collaborate with brokers, cedents, actuaries, claims professionals, risk engineers, and global underwriting teams to evaluate exposures, negotiate terms, and drive profitable growth across the cyber portfolio.

Compensation Package

• Base Salary: $150,000 - $175,000

Responsibilities

• Underwrite complex facultative cyber reinsurance risks, ensuring profitability and adherence to underwriting guidelines.


• Evaluate exposures related to ransomware, privacy liability, network security, business interruption, technology errors & omissions (E&O), and emerging cyber threats.


• Develop and maintain strong relationships with brokers, cedents, and clients to support portfolio growth.


• Collaborate with internal teams, including actuaries, claims professionals, and risk engineers, to assess risks and develop tailored solutions.


• Negotiate terms, conditions, and pricing for facultative reinsurance contracts.


• Contribute to the development and execution of strategies to expand the cyber reinsurance portfolio.


• Stay informed on emerging cyber threats, market trends, and regulatory developments.


• Represent the organization at industry events and client meetings as needed.

Qualifications/Requirements

• Bachelor’s degree required; advanced degrees or professional designations such as CPCU, ARe, CISSP, or CISM are preferred.


• Minimum of 5 years of experience in commercial insurance, specialty insurance, or reinsurance underwriting.


• Significant expertise in cyber insurance and/or cyber reinsurance, with a focus on facultative reinsurance business.


• In-depth understanding of cyber exposures, including ransomware, privacy liability, network security, business interruption, technology E&O, and emerging threats.


• Proven experience in pricing, coverage analysis, and contract negotiations.


• Strong analytical and risk assessment skills.


• Excellent communication, presentation, and negotiation abilities.


• Demonstrated ability to build and maintain broker, cedent, and client relationships.


• Familiarity with multinational cyber programs and global facultative reinsurance markets.


• Ability to work effectively in a collaborative, global environment.


• Willingness to travel as required.


• Must be authorized to work in the United States.

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