Surety & Fidelity Industry Intern and Scholarship Program for Minority Students

Member companies are looking for a business focused Surety underwriting intern. Surety underwriters are very well rounded in all aspects of business such as financial analysis of risk, accounting, marketing/sales, relationship management, etc..

Surety underwriters collect specific financial, legal and other pertinent information about customers applying for Surety Bonds. They evaluate this information and calculate risk based on established criteria. Other key duties that underwriters perform are product sales and business development activities. Underwriters also manage relationships with agents, customers and other stakeholders in support of business growth and development.

Surety underwriters must be able to properly assess each surety bond application and make the best cost-benefit business decision regarding coverage. These decisions require detailed evaluations. Surety underwriters need top-notch analytical and decision-making skills to be effective. Underwriters use software to compute risks, so computer and software skills are a must. Underwriters also need good communication skills to interact successfully with customers, build relationships and develop business.

As a Surety Intern, the student filling this position will handle a wide range of important duties such as:

Analyzing financial statements

Underwriting surety bond requests and annual line renewals

Meeting with agents and customers

Data entry

 

Established in 2003, the Surety and Fidelity Industry Intern and Scholarship Program for Minority Students provides awards of up to $5,000 to outstanding minority students to support their studies in the areas of insurance/risk management, accounting, economics, or business/finance and to encourage their consideration of the surety industry and surety/fidelity underwriting as a career choice.

**Eligibility**

• U.S. Citizenship
• Minority student who has satisfactorily completed at least 30 semester hours or
equivalent of college work, including at least six semester hours (or equivalent) in your
major field; and
• Ideally, a declared accounting, business/finance or Insurance/risk management major;
• Minimum overall grade point average (GPA) of at least 3.0 on a 4.0 scale;
• Enrollment in an accredited institution as a full-time undergraduate student (12
semester hours or equivalent) and commitment to participating in a six-week
(minimum) paid internship with a company in the surety/fidelity industry during the
summer following notification of selection and prior to disbursement of scholarship
funds. Successful completion of paid internship is required.

*For the purposes of this program, The Surety Foundation defines minorities as those of
African-American/Black, Native American/Alaskan Native, Asian/Pacific Islander or Hispanic
ethnic origin.