Business Analysis, Competitive Analysis/Strategy, Establish Priorities, ISO (International Organization for Standardization), Insurance, Insurance Sales, Legal, Mentoring, Policy Development, Product Development, Profit & Loss, Regulations, Reinsurance, Set Goals, Support Documentation, Time Management, Underwriting
The Insurance Coverage Specialist is responsible for a broad spectrum of P&C policy forms, including bureau (mostly ISO), admitted, surplus lines, company specific and manuscript wordings. The priority is drafting commercial lines policies and endorsements - primary casualty, excess liability, umbrella, professional liability, property, first-party insurance, and specialty lines.
Insurance Coverage Specialist:
- Provides expert advice on the research, creation and maintenance of coverage language.
- Works collaboratively with the underwriting divisions on coverages for product development, competitive analysis, line of business initiatives and emerging issues.
- Aligns coverage with profitability, growth and retention objectives of the company.
- Identifies coverage that deviates from current standard forms or common industry practices, or that does not reflect the underwriting intent.
- Furnishes constructive wording alternatives for company use.
- Delivers guidance to underwriters, senior management and others involved in policy wording decisions.
- Viewed as a mentor on policy wording issues for underwriters.
Additional Responsibilities
- Keeps current on insurance policy wording developments, ISO's research, emerging issues and competitors' forms to communicate to underwriters and senior management the importance and impact of proposed wording changes.
- Continually develops specialized knowledge of P&C lines of business to identify wording solutions for the policy structures that meet the business needs.
- Collaborates with other Insurance Coverage Specialists, Reinsurance Contracts Specialists, Underwriters, Claims, Regulatory Specialists and Legal colleagues to improve wordings.
- Prioritizes, organizes and optimizes workloads to promote cost-effective delivery and support for coverage documents.
- Develops and implements Admitted Form Filings with the underwriting divisions and regulatory unit.
- Sets challenging goals and works to meet them.
- Effectively manages time and meets deadlines.