How Do I Become a Professional Liability Underwriter?

A professional liability underwriter assesses the risk posed the services provided specialists such as attorneys, architects, software engineers, and accountants. To work as a professional liability underwriter, you’ll need experience analyzing insurance risk as well as professional liability-specific training. Professional liability underwriters must obtain a property and casualty license from most insurance companies. To work in this field, most insurance underwriters obtain the Registered Professional Liability Underwriter (RPLU) designation.

Property damage, personal injury, bodily injury, and advertising injury are all covered general liability insurance. Attorneys and accountants, for example, are exposed to liabilities that are not covered general liability insurance. They may cause loss or damage that is not covered general liability insurance if they make mistakes while performing their services. This coverage gap is filled professional liability insurance.

To work as a professional liability underwriter, you must understand the various types of professional liability insurance and how they can be tailored to meet the needs of different clients. Experience, company training, and continuing education classes are how an insurance underwriter learns about the various types of coverages. Most insurance companies that provide professional liability insurance will provide underwriters with training that is specific to their liability product.

Professional liability insurance is a type of property insurance. As a result, most liability underwriters must obtain a property and casualty license. A license is obtained after completing a course of study and passing an exam administered an insurance licensing governing body.

To become a professional liability underwriter, most underwriters choose to pursue the RPLU designation. Underwriters must study courses approved the Professional Liability Underwriting Society (PLUS) and then pass exams on the subject matter to earn the RPLU designation. As a post-employment requirement for becoming a professional liability underwriter, many professional liability underwriters study for the RPLU designation.

Professional liability underwriters must also possess excellent analytical skills. They are expected to gather information and assess the risks that each client poses. They interact with both agents and clients on a regular basis, necessitating excellent communication and interpersonal skills.

Because underwriters are frequently responsible for ensuring policy compliance, great attention to detail and the ability to consistently follow up on tasks are required to work as a professional liability underwriter. In addition, underwriters are frequently called upon to act as a liaison between the insurance carrier, the client, and the broker in the event of a claim. Because the professional liability underwriter is responsible for dealing with both broker partners and their clients, customer service skills are essential.