Coverage Specialist Reinsurance

Oliver James Associates Ltd.; New York (NY); On-site; USD 80,000 - 110,000; Full time

Job summary

An established industry player is seeking a Coverage Specialist to join their team. This pivotal role involves drafting and analyzing reinsurance contracts and insurance policies, ensuring alignment with company standards. The ideal candidate will have a strong background in the P&C insurance industry and a knack for analytical thinking. You'll collaborate with various departments to optimize coverage and support profitable growth. This is an exciting opportunity for someone looking to advance their career in a dynamic environment, where your contributions will directly impact the company's success.

Qualifications

• 3+ years of experience in reinsurance contract drafting.
• 5+ years in the P&C insurance industry, underwriting or claims experience preferred.
• Strong analytical and communication skills required.

Responsibilities

• Draft and analyze reinsurance contracts and insurance policies.
• Collaborate with underwriting divisions for strategic decisions.
• Mentor underwriters and assist in contract wording.

Skills

Analytical Skills

Communication Skills

Organizational Skills

Proficiency with AI tools

Knowledge of reinsurance contracts

Education

Bachelor's Degree

CPCU Certification

JD or Paralegal Degree

Tools

Word

Excel

PowerPoint

Teams

SharePoint

Outlook

ChatGPT

Postgres

Python

SQL

Job description

Coverage Specialist - Reinsurance Wordings

Coverage Specialist - Reinsurance Wordings

Our client is a premier provider of excess, surplus, and specialty property and casualty insurance written on both admitted and non-admitted paper. The company conducts business through a select group of wholesale brokers, managing general underwriters (MGUs), and program administrators in the United States.

They are seeking an analytical, self-motivated Coverage Specialist to play a pivotal role in drafting reinsurance contracts, insurance policies, and endorsements to support corporate objectives. This role is ideal for an experienced individual seeking to advance their career.

The Role:

The Coverage Specialist will analyze, draft, and explain reinsurance contracts for public entity self-insurance pools, primarily treaties with some facultative certificates. You will support underwriters, including senior managers, and act as the key liaison to the company's Contracts Unit. Responsibilities include drafting insurance policies and endorsements, and optimizing P&C reinsurance and insurance wording to support underwriting divisions and promote profitable growth.

Responsibilities:

1. Review and analyze reinsurance contracts, ensuring alignment with company standards.
2. Perform comprehensive comparisons between reinsurance contracts, cedant's policies, and company requirements.
3. Identify deviations from standard language or industry practices.
4. Propose improvements and collaborate with business units to resolve issues.
5. Draft specialty insurance policies and endorsements for primary and excess P&C lines.
6. Conduct independent reviews for product development, competitive analysis, and emerging trends, and report findings.
7. Collaborate with underwriting divisions to inform strategic decisions.
8. Draft reinsurance and insurance coverage aligning with risk tolerance and profitability goals.
9. Mentor underwriters, guide management, and assist colleagues in contract and policy wording.
10. Create reinsurance checklists for underwriters and coverage specialists.
11. Establish electronic filing systems to maintain documentation.

Qualifications and Experience:

• Bachelor's degree required; CPCU preferred. JD or paralegal degree may be considered if related to drafting reinsurance contracts (not legal practice).
• Minimum 3 years of experience in reinsurance contract drafting.
• At least 5 years of experience in the P&C insurance industry, including underwriting or claims examining is advantageous.
• Proficiency with AI tools and technology (Word, Excel, PowerPoint, Teams, SharePoint, Outlook, ChatGPT or similar).
• Familiarity with large language models, R, Postgres, Python, or SQL is a plus.
• Strong organizational, analytical, and communication skills.
• Active involvement in industry committees such as ISO Panels is beneficial.
• Ability to work independently and across departments.

If interested, contact us for a confidential conversation today!