Syndicate Contract Negotiator

3 weeks ago


London, Greater London, United Kingdom Nashrock Insurance Recruitment Full time

About Nashrock Insurance Recruitment

We are a leading insurance recruitment agency, dedicated to connecting top talent with exciting opportunities in the industry.

Job Summary

This is an excellent opportunity for an experienced Contract Wordings Manager to join our client's team. The successful candidate will be responsible for negotiating and agreeing direct policy wordings and reinsurance contracts, as well as maintaining accurate records of all negotiations and final agreed wordings or clauses within the Agency's IT systems.

The estimated salary for this role is £70,000 - £90,000 per annum, depending on experience.

Key Responsibilities

  1. Negotiate and agree direct policy wordings and reinsurance contracts across all actively written classes of business.
  2. Maintain accurate and up-to-date records of all negotiations and final agreed wordings or clauses within the Agency's IT systems.
  3. Liaise with Underwriters, Clients, and Brokers to promote an active risk management process and provide commentary on the effectiveness of the wordings agreed.
  4. Conduct regular peer review of wordings agreements by other members of the Claims and Wordings team.
  5. Assess the financial impact of unsuitable contract wordings and report to the Claims Quarterly Meeting, or up to board level if appropriate.

Requirements

  • Techincal knowledge of standard and bespoke wordings, clauses, and endorsements in the following classes: Property D&F, Property Binders, Specie, Contingency, CPRI, PV, CAR, Marine Cargo & Treaty Reinsurance.
  • Knowledge of market conditions and current market issues, insofar as they relate to wordings usage and the ability to negotiate coverages.
  • Understanding of Lloyd's current and historical wordings agreement procedures and associated Lloyd's systems.
  • Knowledge of International Standard Form Wordings including ISO.
  • Understanding of Agency Contract Certainty Checking Procedures and PBQA checking systems.
  • Employment policies, company policies, regulatory requirements, risk management, and continuing professional development.

Benefits

Our client offers a competitive salary, a range of benefits, and opportunities for career growth and development.



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