Property Underwriting Consultant
This client has grown at a fast clip the past few years but
mainly through casualty and liability lines. They have some property but this
is changing. Both with existing programs and potential new programs we
are seeing a wider variety of property catastrophe exposed business.
They would like a third party to review our portfolio
management of catastrophe exposed business and ensure we are protected
sufficiently, monitoring the correct metrics, and evaluating new deals
You would probably be a week of consulting to begin with but
the client would consider hiring them on retainer for monthly reviews and
discussions (assuming we both think the relationship would work).
Examples of client questions:
- They would like a clear
picture of RMS and AIR strengths and weaknesses – state by state, peril,
model assumptions, etc.
- Discussions on how to control
non-traditional exposures (commercial physical damage exposure to
wind/water) and large limits (habitational with limits >$10m)
- What additional metrics
will treaty property cat underwriters use to monitor their portfolio
- Standard XL Cat contracts
– what are the most important clauses that are being negotiated (e.g.,
hours clauses) and where should we be wary.