Specialty Business Manager – Liability Solutions

PCS is one of the largest high net worth managing general underwriters in the market today. With a sole focus on families with $5m or more in assets, PCS provides complex insurance policies for individuals with complex needs. Private Client Select offers property and casualty personal insurance solutions and risk management services that meet the unique and complex needs of High-Net-Worth clients.

We understand their passions and are committed to preserving the life that they have built.

PCS employs approximately five hundred staff members. The company has offices in New York, NY;
Edison, NJ;
St. Petersburg, FL;
Schaumburg, IL and San Diego, CA. PCS has a geographically diverse workforce and supports hybrid and remote business-based flexibility.

PCS is seeking an entrepreneurial underwriter and business leader to own its Liability Solutions portfolio.

The position will initially have two primary responsibilities:

• Own and improve PCS's existing Group Umbrella business, currently approximately $40M-$50M of premium, with one existing direct report.
• Build a new high-limit Excess-over-Excess business from the ground up.

The Specialty Business Manager will serve as the underwriter and P&L owner, with direct responsibility for underwriting, pricing, product design, distribution, capacity relationships, operations, growth and profitability. The individual will initially be expected to personally underwrite and develop the businesses. As premium and complexity grow, the Business Manager will determine the appropriate organizational structure and build the support team required to scale profitably.

Success will be measured by the financial performance, growth and long-term value of the businesses.

Take full ownership of PCS's existing Group Umbrella business and improve its performance.

• Own the P&L and underwriting results of the approximately $40M-$50M portfolio.
• Personally lead underwriting and risk selection, supported initially by one existing direct report.
• Understand where the portfolio is making and losing money and take action accordingly.
• Refine/Re-design pricing, underwriting standards, contract terms and risk selection based on market conditions and experience.
• Complete the transition toward a more efficient, system-supported operating model.
• Determine which employer, family office and other group segments PCS should pursue and establish the underwriting approach for each.
• Build relationships with key brokers and clients and generate profitable new business.
• Monitor premium, profitability, loss performance, expenses, customer adoption and portfolio trends.
• Own the capacity-provider relationship, including performance, economics and growth discussions.
• Add underwriting and support resources as premium and business needs justify additional investment.

• Build and own the business from inception, including underwriting, product, pricing, capacity, distribution, operations and financial performance.
• Develop a differentiated underwriting and pricing approach informed by PCS’s historical liability experience, research and market insight.
• Establish PCS as a recognized expert in catastrophic liability for successful individuals and families, creating differentiated propositions for customers, brokers and capacity providers.
• Secure and manage the capacity required to launch and grow the business.
• Develop broker relationships and generate profitable production, personally underwriting the portfolio as the business is established.
• Create a simple, compelling product and customer experience that makes additional liability protection easier for brokers to explain and clients to purchase.
• Build the team and operating capabilities…