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Ascot Group · 1 month ago

Underwriting Counsel

ISELIN, NJ, United States

Full-time

Hybrid

Senior Level

$170K/yr - $190K/yr

7+ years exp

Ascot Group is one of the world’s pre-eminent specialty risk underwriting organizations, operating through interconnected global platforms. The Underwriting Counsel will draft policy wordings and related documents, serve as a legal expert on insurance products, and collaborate with various teams to implement new products.

Insurance

Responsibilities

Work both independently and with the Senior Underwriting Counsel to collaborate with underwriters and draft clear and accurate new and amended insurance policy wordings, forms, endorsements, applications, and related documents

Opportunity to oversee and manage legal aspects of the product filing process, including responding to state Department of Insurance objections and drafting state-specific endorsements and wordings

Review alternative distribution and Program opportunities from a products standpoint and advise on necessary changes to or creation of policy documents in line with Ascot’s underwriting appetite

Advise underwriters with risk analysis by offering coverage and wordings analysis and other legal related advice

Stay up-to-date on current and emerging underwriting risk and coverage trends

Work with stakeholders to embrace "Plain English" wordings that are easy for customers and brokers to understand, without detracting from their legal precedence, meaning or significance

Work closely with the Actuarial, Operations, Reinsurance, Underwriting, and Claims departments to implement new products in Ascot’s IT systems, including the drafting and review of business and technical requirements for policy form implementation and behavior

Qualification

Juris DoctorInsurance coverage experiencePolicy wording developmentUS commercial casualty knowledgeCommunication skillsDesire to learnOrganizational skillsTime-management skillsCross-departmental collaborationSelf-starterAdaptability

Required

Juris Doctor from an ABA-accredited law school and Bar admission in good standing

Minimum of 7 years of relevant insurance coverage, wordings, and/or claims experience, including direct interaction with clients and/or internal stakeholders

Background in US commercial casualty and specialty insurance markets

Excellent communication (both written and verbal), organizational and time-management skills

Proven skills managing/participating in cross-departmental efforts, and the knowledge to collaboratively work until a matter is resolved, as opposed to waiting for others to advance an effort

A self-starter, who is comfortable working independently and 'rolling up their sleeves' or in leading or playing a part on collaborative teams

Ability to quickly adapt and learn new areas that might fall outside his/her scope of experience

The successful candidate will have an ability to act independently, to think matters through fully and drive them as close to completion as possible seeking guidance as appropriate

Strong desire to learn and gain exposure to other legal and business areas

Location near one of our office locations for hybrid working model required

Preferred

Location in the general northeastern tri-state area preferred

Benefits

Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Life Insurance, AD&D, Work/Life Resources (including Employee Assistance Program), and more.

Leave Benefits: Paid holidays, annual Paid Time Off (includes paid state /local paid leave where required), Short-term Disability, Long-term Disability, Other leaves (e.g., Bereavement, FMLA, Adoption, Maternity, Military, Primary & Non-Primary Caregiver)