Marine Underwriter

Just ask Davy Jones, Robinson Crusoe, or Tom Hanks’ favorite volleyball, Wilson: A lot can go wrong when you’re out at sea. And when it does, it’s your job as a Marine Underwriter to make sure your company is financially protected.

Like other Underwriters, as the Marine Underwriter, you evaluate applications for insurance on behalf of an insurance company, then provide coverage to clients you deem worth the risk. The major difference, of course, is that when you’re a Marine Underwriter, you don’t underwrite mortgage loans or automobiles. Instead, you underwrite boats.

Simply put, when someone who owns and operates a boat needs insurance, they come to you to buy it, at which point you evaluate their application, then either approve or reject it based on perceived risk. The same as someone who insures cars, homes, and people, your goal is to choose customers who will pay premiums but avoid filing expensive claims. It’s a gamble, and you’re paid to play the odds.

In the world of marine insurance — which covers ships, cargo, and terminals — you base your decision on factors such as the size and type of vessel being insured; what the vessel will be used for; what type of cargo and/or passengers it will carry; the age of the vessel; the routes the vessel will travel; the seasons the vessel will travel in; the countries the vessel will dock in; the industry and history of the company operating the vessel; etc.

If you make good choices, your company stays afloat. If you make bad choices, however, it might just sink along with your client’s ship!