AVP, Product Management & Regulatory Compliance, Executive Risk - Jersey City, NJ/Hybrid

Crum & Forster•Jersey City, NJ

1d•Hybrid

About The Position

Crum & Forster (C&F), with a proud history dating to 1822, provides specialty and standard commercial lines insurance products through our admitted and surplus lines insurance companies. C&F enjoys a financial strength rating of "A+" (Superior) by AM Best and is proud of our superior customer service platform. Our claims and risk engineering services are recognized as among the best in the industry. Our most valuable asset is our people: more than 2000 employees in locations throughout the United States. The company is increasingly winning recognition as a great place to work, earning several workplace and wellness awards, including the 2024 Great Place to Work® Award for our employee-first focus and our steadfast commitment to diversity, equity and Inclusion. C&F is part of Fairfax Financial Holdings, a global, billion dollar organization. For more information about Crum & Forster, please visit our website: www.cfins.com. Job Description AVP, Product Management & Regulatory Compliance, Executive Risk What you will do: Create new and revised products as requested by Underwriters and aid in the development of any new business initiatives (Management Liability, Crime & Fidelity, Cyber & Technology E&O and Miscellaneous & Lawyers Professional Liability) Develop and maintain coverage forms, endorsements, applications, quote and binder templates, and rate/rule plans for proprietary and bureau-based insurance products Draft manuscript endorsements, as requested by Underwriting staff, that provide needed coverage changes while maintaining the integrity of the policy form; track manuscript endorsement use and complete individual risk filings, where necessary Act as a key resource for researching coverage nuances across Executive Risk Products in response to potential industry trends Maintain awareness of market trends and identifies emerging threats and opportunities Manage product development projects (admitted and non-admitted) in collaboration with Underwriting, Claims, Legal, Actuarial, and State Filings staff members Ability to execute and formalize an insurance product filing by completing all required state checklists, certification and Flesch Test scoring as necessary Deliver prompt and well-written responses to state insurance department objections Monitor regulatory changes to determine need for revisions to proprietary products or exceptions to bureaus’ products Create internal guidance and distribute to Underwriting staff regarding products and new or revised requirements, including topics such as manuscript endorsements, memorandums of insurance, assumed reinsurance, etc. Maintain forms and rates/rules on a Product Management SharePoint site Support Product Business Analysts by providing regulatory guidance and answers to inquiries on policy form, rates and rules as needed; actively participate in Duck Creek policy issuance system calls as the user interface is being built Act as a resource for guidance on compliance topics such as commercial deregulation, NYFTZ, premium surcharges, TRIA, cancellation and nonrenewal, extended reporting periods, surplus lines and other regulatory issues Participate in internal audits in tandem with Underwriting and provide regulatory/compliance feedback as needed Assist in the training of new hires and Underwriting staff

Requirements

Juris Doctor (J.D.) and 10+ years’ legal/insurance industry experience
Extensive knowledge of admitted and surplus lines insurance products and development of policy forms and rules
Familiarity with ISO, SFAA and other insurance bureaus
Five or more years’ direct insurance product development experience, including demonstrated expertise in the drafting of insurance policy forms, rules and rate manuals
Outstanding written and verbal communication skills
Strong interpersonal skills
Strong organizational skills
High degree of accuracy and attention to detail in a fast-paced environment
Proficient in Microsoft Office Suite

Nice To Haves

CPCU designation or other related course work preferred, or equivalent insurance industry experience
Experience with ISOnet, SERFF and Duck Creek preferred

Responsibilities

Create new and revised products as requested by Underwriters and aid in the development of any new business initiatives (Management Liability, Crime & Fidelity, Cyber & Technology E&O and Miscellaneous & Lawyers Professional Liability)
Develop and maintain coverage forms, endorsements, applications, quote and binder templates, and rate/rule plans for proprietary and bureau-based insurance products
Draft manuscript endorsements, as requested by Underwriting staff, that provide needed coverage changes while maintaining the integrity of the policy form; track manuscript endorsement use and complete individual risk filings, where necessary
Act as a key resource for researching coverage nuances across Executive Risk Products in response to potential industry trends
Maintain awareness of market trends and identifies emerging threats and opportunities
Manage product development projects (admitted and non-admitted) in collaboration with Underwriting, Claims, Legal, Actuarial, and State Filings staff members
Ability to execute and formalize an insurance product filing by completing all required state checklists, certification and Flesch Test scoring as necessary
Deliver prompt and well-written responses to state insurance department objections
Monitor regulatory changes to determine need for revisions to proprietary products or exceptions to bureaus’ products
Create internal guidance and distribute to Underwriting staff regarding products and new or revised requirements, including topics such as manuscript endorsements, memorandums of insurance, assumed reinsurance, etc.
Maintain forms and rates/rules on a Product Management SharePoint site
Support Product Business Analysts by providing regulatory guidance and answers to inquiries on policy form, rates and rules as needed; actively participate in Duck Creek policy issuance system calls as the user interface is being built
Act as a resource for guidance on compliance topics such as commercial deregulation, NYFTZ, premium surcharges, TRIA, cancellation and nonrenewal, extended reporting periods, surplus lines and other regulatory issues
Participate in internal audits in tandem with Underwriting and provide regulatory/compliance feedback as needed
Assist in the training of new hires and Underwriting staff

Benefits

Competitive compensation package
Generous 401K employer match
Employee Stock Purchase plan with employer matching
Generous Paid Time Off
Excellent benefits that go beyond health, dental & vision. Our programs are focused on your whole family’s wellness, including your physical, mental and financial wellbeing
A core C&F tenet is owning your career development, so we provide a wealth of ways for you to keep learning, including tuition reimbursement, industry-related certifications and professional training to keep you progressing on your chosen path
A dynamic, ambitious, fun and exciting work environment
We believe you do well by doing good and want to encourage a spirit of social and community responsibility, matching donation program, volunteer opportunities, and an employee-driven corporate giving program that lets you participate and support your community

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