Why Do Nuclear Insurance Pools Exist?

As a Property/Casualty Underwriter your Chief Underwriting Officer demands a lot from you. You’re expected to determine the optimal approach for risk assessment, unbiased pricing and acquisition of major accounts by using your underwriting knowledge and expertise.

You are charged with assessing and accepting insurance and reinsurance offers, including premium calculation and determining insurance and reinsurance conditions with underwriting guidelines, internal rules and authorities, to optimize profitability.

Your boss wants you to negotiate with cedants and brokers in coordination with client management.

You are responsible for strengthening existing client relationships and developing new ones to achieve expected growth and profit contribution in conjunction with the client team. You have to support the management, develop new solutions to generate business, take an active role in underwriting participate in departmental working groups and projects, while developing and maintaining market profile and visibility.

You are one busy underwriting machine. So why would you want to join an insurance pool such as

One of the strongest reasons to join the pool is corporate responsibility, if there were ever a nuclear incident claims would be completely dealt with promptly, reliably, and satisfactorily as far as the public is concerned.

Joining NIAC is one way to help manage climate change and sustain the security of the supply of
energy needed for all Canadians home and auto, and commercial risk.

The pooling system has a strong set of skills.

The pooling mechanism is well established, working well and proven: including engineering, underwriting, and claims handling.

Our 60 plus years of practical experience presents you with the opportunity to show ‘you-know-who’ (the boss) a rational business case that will be profitable to any insurer or reinsurer.

NIAC provides individual risk underwriting, policy issuance and governance, engineering services and claims handling for every member.

Think of it, joining the pool is a highly effective way to increase business, diversify your organization’s portfolio and protect your
bottom line.
Membership comes with a diversification benefit and when the senior management want to know what you’ve been doing with your spare time you can tell them you have provided your company with an opportunity to participate in creating a billion dollars worth of protection for Canadians.

As a valuable team player with very good negotiation skills and business acumen you will be demonstrating that you are solutions oriented with a focused, proactive, efficient and independent work style.

Ready to jump in the pool? Join us, become a member of NIAC and start reaping the benefits.