Job Description
Job Description
Houston, TX
Position Description
The primary role of the Insurance Risk Manager is to direct and administer all aspects of the Company’s insurance programs (including analyzing insurance needs and securing optimum coverage for the organization), as well as be available as the primary contact for insurance matters to the Company and its worldwide affiliates. This includes compilation of underwriting information, coverage placement and renewals, claims administration, and other activities.
Essential Duties and Responsibilities
Domestic & Foreign Policy Issuance & Renewals
Manage Insurance Renewal Process:
- Work directly with insurance brokers to assess, revise and renew all insurance coverage applicable to activities of the Company and its worldwide affiliates; this includes gathering the necessary supporting data and working with the insurance broker to negotiate coverage, prices, terms and conditions;
- Participate in yearly Renewal Strategy Meeting with broker and Assistant General Counsel;
- Update template(s) for insurance data workbook and exposure schedules as needed prior to distribution to affiliates;
- Collect and collate insurance renewal data from more than 20 affiliate offices to and return to broker on or before deadline on renewal timeline (refer to Action Item List template);
- Complete renewal applications as required for FinPro and Cyber programs;
- Respond to subjectivities and inquiries prior to quote presentations;
- Analyze insurance coverage quotes, bids and proposal comparisons; provide renewal recommendations to General Counsel and Assistant General Counsel requesting approval to bind each program;
- Provide bind orders to broker upon quote approval;
- Verify invoice amounts to match quotes and present for approval and processing;
- Certificates of Insurance (COI’s) – Work with broker to maintain master list for COI’s and ensure timely distribution to all global affiliates upon yearly renewals;
- Collect binders and policies and review for accuracy;
- Receipt and review of Summary of Insurance (detailed) from broker;
- Broker commission reconciliation.
New Policy Placements:
- Work with broker to issue new policies as needed for newly identified risks, local compliance, or contractual obligations.
GA Claims Management
Claims Administration:
- Track any pending claims against the Company and its affiliates and identify applicable insurance coverage;
- Support attorney responsible for managing litigation where the Company’s or a third party’s insurance coverage may be involved;
- Work with Legal regarding customer communications, interpreting contract language and formal responses to claim demands;
- Facilitate communications between insured, insurance carrier and claimant; assist with issues, data collection and settlement documents;
- Regularly communicate with worldwide affiliate offices regarding any pending claims;
- Manage claims to conclusion in coordination with the broker, Legal Dept., insurance carrier, and appropriate Company representatives.
Incident Tracking:
- Work with Regional Safety Management team to track General Aviation (GA) incidents; review investigation reports and lessons learned; determine whether to engage broker/carrier;
- Maintain GA Incident Report for senior management describing the status of all pending General Aviation claims against or involving the Company and/or its affiliates and containing details related to Company risks and costs to mitigate;
- Provide real-time updates of GA Incident Report to Financial Reporting for internal deductibles and as requested.
Risk Analysis:
- Participate in claims reviews, audits, and risk engineering surveys with broker and insurance carriers.
Contracts & Agreements
- Support requests, with assistance from the broker and carriers, which are received from the Company attorneys for review of insurance, indemnity, and limitation of liability provisions in agreements and proposed ventures or activities of the Company.
- Edit insurance language contained in contracts and agreements as required to verify compliance with insurance requirements and support the Company and its ability to comply;
- Provide COI’s in support of contracts and
About Universal Weather and Aviation
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