Assistant Political Risk Underwriter
Mark M is an Assistant Political Risk Underwriter at Chaucer Insurance - "We insure things like the risk of terrorist attacks, or political violence in trouble spots... What we do is travel to places where there's potential for things to go wrong." He came to the UK from Australia, intending to travel, but ended up working and studying in the UK. His degree, and his hobby, is ancient history and archeology and he hopes to take these up professionally again in the future. But in the meantime he enjoys his job and enjoys earning good money.
More information about Insurance underwriters
Check out 3 videos about this career
The UK average salary is £28,758
There are 37.5 hours in the average working week
The UK workforce is 47% female and 53% male
DescriptionInsurance underwriters identify and measure the risks associated with an activity, determine whether this risk is insurable and issue insurance polices which provide financial compensation in the event of loss.
QualificationsThere are no formal academic requirements, although many employers expect entrants to study for and attain the associateship examinations of the Chartered Insurance Institute. Entrants to professional examinations usually require GCSEs/S grades and A levels/H grades, an Advanced GNVQ/GSVQ Level III, or a BTEC/SQA award.
- Receives and assesses proposals and propositions for insurance from brokers and clients;
- Identifies and evaluates the risks associated with a proposal;
- Liaises with insurance surveyors, actuaries and risk managers where the risks associated with a proposal are not clear;
- Calculates premiums, provides quotations and, if acceptable to the client, issues policies;
- Ensures that the insurance policy clearly defines the liabilities accepted and any exceptions or exclusions;
- Negotiates terms of reinsurance contracts.