Insurance and Risk Administrator

Universal Weather and Aviation • Houston, TX

3d • Hybrid

About The Position

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.

Requirements

• Bachelor’s degree in Business or Risk Management, equivalent experience and training acceptable in lieu of degree.
• 5+ years’ previous experience required.
• Energetic, demonstrated leader/manager with superior analytical abilities.
• Excellent customer service skills and standards are necessary.
• Excellent written and verbal communication skills.
• Must be highly organized, detailed and efficient.
• Proven, effective interpersonal skills, able to present information, influence decisions and work with individuals at all levels of the organization.
• Strong written and oral communication skills.
• Ability to organize and prioritize work, managing several projects simultaneously.
• Ability to interface effectively with employees, various levels of management, as well as external customers and service providers.
• Ability to exercise discretion, confidentiality and good judgment in interpreting and applying policies to problems.

Responsibilities

• 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.
• 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 agreements and ensure they match our contractual obligations.
• Budget, Allocations & Audits: Provide yearly budget for corporate insurance expense; assist with budget review; Review and process insurance carrier invoices, including maintaining intercompany coding and allocations backup documentation, in compliance with internal control parameters; Manage insurance allocations process following yearly renewals, including generation of worksheets based on exposure values to determine allocation amounts for insurance premiums; work with Financial Reporting to allocate insurance premiums to relevant business units and appropriate entities; Audit Reconciliation. Work with internal and external resources to reconcile Workers Compensation and Auto audits to confirm correct amount to be invoiced; Refer to Worker’s Comp Allocation Methodology and template.
• Other: Work with Regional Controllers, Finance Mangers, and other internal and external customers to respond to coverage questions/insurance matters; Utilize broker online support capabilities to manage requests for certificates of insurance; Provide insurance updates for Safety Review Committee and Board Meetings; Manage insurance data for reports (GA Incident Report; Exposure Schedules; Allocations Worksheets, etc.) Maintain/update Corporate Insurance Manual; Maintain detailed Summary of Insurance for the Company and its affiliates; Maintain insurance binders and policies for the Company and its affiliates; Develop and implement approved programs, policies, processes, and procedures related to insurance; Perform RFP for insurance broker as requested by management, or as needed.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level