Senior Contract Specialist
3 weeks ago
Servicing all Lancashire group entities covering a broad spectrum of reinsurance lines of business, the role provides technical contract wordings advice, guidance and product development to support the strategies, risk appetites, aspirations and growth plans of Lancashire. The position is London based with the opportunity to work in overseas offices, if required and to visit brokers and clients when necessary.
Key Responsibilities:- To review, draft and negotiate inwards treaty reinsurance and retrocession contract wordings and related supporting documentation, to ensure the terms clearly reflect the underwriting intent of coverage being provided, and alignment with the Lancashire strategies and appetites, adopting a solutions based approach.
- Produce and deliver best practice and minimum standard reviews and guidance across the group to empower underwriters to ensure clause and contract terms and conditions are cognizant with the boundaries of the group's risk appetite and strategy, and legal and regulatory requirements.
- Assist in the review and drafting of outwards reinsurance and internal reinsurance contract. Assist in the development and implementation of Lancashire standard clauses.
- Research and keep abreast of insurance/reinsurance rulings, legal, regulatory and emerging issues.
- Produce and publish internal guidance and prepare and deliver internal presentations, workshops and training sessions.
- Assist Group Head of Wordings with the implementation of the wording strategy to support the business and operate as an effective team member by supporting colleagues and contributing to the delivery and achievement of overall team and business objectives. This includes the delivery of projects, internal workstreams, reinsurance wordings-related initiatives.
- Communicate and disseminate information internally, interact with and solicit support from other areas of the business, particularly claims, legal, finance, compliance and operations.
- Assist in the investigation of new technologies to enhance team workflow, contract review, tracking of contract trends and reporting capabilities.
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