Insurance Policy and Rate Analyst 2

West Virginia; Charleston (WV); On-site; USD 55,000 - 75,000; Full time

Benefits offered by this job

12 paid holidays

Leave accrual (annual & sick)

Health insurance via PEIA

Life insurance

Retirement plan with 457 option

Job summary

West Virginia Office of the Insurance Commissioner in Charleston, WV, seeks an analyst to review insurance filings and ensure compliance with WV law. You will interact with insurers, rating organizations, and regulators to clarify filings and dispositions.

The role requires a regulatory mindset, strong analytical skills, and experience with SERFF and NAIC systems; opportunities for NAIC designation training are available.

Qualifications

• Bachelor's degree from a regionally accredited college or university.
• Three years of full-time or equivalent experience in insurance regulation or related fields.
• Ability to review rate and form filings per WV Code, Regulations, and Guidelines.

Responsibilities

• Review insurance company rate, rule, and form filings across multiple types of insurance.
• Correspond with insurance company representatives and rating organizations on filings.
• Analyze and prepare reports using filings data, SERFF, and NAIC I-site.
• Attend agency training and assist other analysts with filings and interpretations.

Skills

Analytical thinking

Communication skills

Regulatory knowledge

Education

Bachelor's degree from a regionally accredited college or university

Tools

SERFF

NAIC I-site

WV Code reference materials

Job description

Nature of Work:

Position No.: 0704P00193

Posting No.: INS27004

Division: Executive

Office Location: 900 Pennsylvania Avenue, Charleston, WV 25302

***This job opportunity is not in the classified service and is not covered by the West Virginia Division of Personnel merit system***

• The review of insurance company rate, rules, and form filings. These filings consist of multiple types of insurance including homeowners, automobile, workers compensation, medical malpractice, commercial property and liability, health, life, annuities, etc.
• Responsible for the review of form and rate filings in compliance with the WV Code, Regulations, and Guidelines. The analyst will correspond with insurance companies in a professional manner regarding the analysis of their filings. Once the filing review is complete, the analyst will render a disposition of the filing.
• Correspond with insurance company representatives, rating organizations, and other industry professionals on a number of insurance matters such as the state of WV insurance market, WV Code, rules, regulations, guidelines; the proper way to create and code a filing; and the information required to be in a filing in order to conduct a thorough review.
• Analyze and prepare reports for internal and external use. The reports primarily consist of insurance market and filing analysis. Information is obtained from the filings, SERFF, and NAIC I-site system and current legislation.
• Attend agency training and filing reviews. Assist other analysts within other divisions of the OIC with their filings and their interpretation of the WV Code, Rules and Regulations, as needed. Work toward the completion of NAIC Designation Programs: APIR and PIR, as well as attending NAIC conference calls and sub-groups as assigned.

Training:

Bachelor's degree from a regionally accredited college or university.

Substitution:

Designation as a Chartered Life Underwriter (CLU), Chartered Property and Casualty Underwriter (CPCU), Chartered Financial Consultant (CHFC) or Fellow of the Life Management Institute (FLMI).
OR
Experience as described below may be substituted for the required training on a year-for-year basis.

Experience:

Three (3) years of full-time or equivalent part-time paid employment as an insurance agent, broker, policy examiner, rate analyst, adjuster or investigator with an insurance company or governmental insurance regulatory agency in the areas of life, property and casualty or accident and health or in a technical capacity in an insurance regulatory agency or experience in a mathematical, statistical or actuarial field.

Come join our team!

We believe our employees deserve the best to make sure they have a great work-life balance. The WV Offices of the Insurance Commissioner offers a great benefit package that includes:

• Holidays - Minimum of 12 paid holidays
• Leave Accrual - Ample Annual (starting at 4.61 hours a pay period) and Sick Leave (5.55) hours a pay period) Accrual
• Medical Insurance - Insurance through Public Employees Insurance Agency (PEIA) with several plan options and Flexible Benefits through Mountaineer Flex Benefits to cover additional needs
• Life Insurance - Free $10,000 Basic Life Insurance and additional life insurance offered at a low cost to you
• Retirement - Mandatory retirement where the employee contributes a portion of their annual salary and the employer also contributes, in addition to an optional 457 deferred compensation retirement plan