Reinsurance Contracts Specialist
About The Position
AmericanAg®, a global provider of diversified reinsurance services, is looking for a Reinsurance Contracts Specialist to work out of our office in Schaumburg, Illinois. This is a hybrid position working in the office a minimum of three days a week. Occasional travel may be needed. The Reinsurance Contracts Department at AmericanAg® partners with multiple internal teams, as well as external brokers, to draft both assumed and retrocessional reinsurance contracts across property and casualty lines of business. The department is responsible for ensuring that all reinsurance contracts meet the intended business purpose, contain all required provisions, and are drafted and executed in a timely manner. If you are interested in building a career in the insurance industry, this might be a great fit for you.
Requirements
- Bachelor’s degree; JD is a plus
- Property and casualty insurance/reinsurance knowledge; experience with insurance contracts and foundational knowledge of legal industry practices is a plus
- Proficiency with Microsoft Office products, especially Word
- Strong analytical, critical-thinking, decision-making, and problem-solving skills
- Excellent organizational and time management skills; ability to multi-task and handle multiple priorities often under tight deadlines
- Ability to collaborate and work successfully in a team environment
Nice To Haves
- Professional designations such as CPCU or ARe preferred
Responsibilities
- Assisting the Director of Reinsurance Contracts and Reinsurance Contract Drafters in drafting and negotiating of wide variety of reinsurance contracts
- Developing an understanding of contract language used in reinsurance contracts (including trust agreements)
- Assembling and issuing reinsurance contract documents for execution and tracking the status of each document (execution, coordination with other parties, etc.)
- Organizing and filing reinsurance contracts and trust agreements
- Monitoring statutory positions, regulatory guidelines, and judicial decrees affecting reinsurance contract wording
- Developing skills to support negotiation and resolution of wording issues for reinsurance contracts
- Drafting addenda and endorsements to reinsurance contracts (ceded, assumed, and retrocessional agreements)
- Researching information (both internal and external) to support legal and contract positions with respect to terms and conditions included in reinsurance contracts
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Number of Employees
11-50 employees
