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NY - New York,
PA
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Career Field |
Executive/Administration, Customer Service
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| Insurance
Discipline |
All
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| Relocation
Assistance |
Not Available
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| Job
Duration |
Full Time |
| Salary
Offered |
Open |
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Assistant Counsel will report into the Associate Counsel for Ace Professional Risk's Management Liability unit. The role will be based in New York City with some time spent in other cities.
The duties of Assistant Counsel are as follows:
Product development and endorsement libraries:
1. Draft new or revised Management Liability products, along with endorsement libraries, applications, marketing materials, policy comparisons, and highlight sheets.
2. Produce high-quality, error-free products which are responsive to underwriter and competitive marketplace needs while always being compliant with applicable laws and regulations.
3. Provide legal guidance with regard to product use and related regulatory issues.
Manuscript endorsements: Draft manuscript endorsements for Management Liability products-
1. Ensure use of the manuscript endorsement request form.
2. Prepare manuscript endorsements within 15 business days of request.
3. Consult with manager regarding assignments.
4. Ensure no policy issuance delays beyond 30 days due to outstanding endorsement requests.
5. Demonstrate ability to a) comprehend underwriter's request, b) work collaboratively with underwriter to adjust/improve request, c) work independently, d) understand and work through legal and drafting complexities.
6. Participate with underwriters, brokers, policyholders to negotiate coverage terms.
7. Eliminate ambiguities and coverage problems while amending policy to meet underwriter needs
Regulatory: Provide legal advice for transactional and regulatory matters for Professional Risk:
1. Protect ACE while facilitating business flow of clients.
2. Review fronting agreements, matching deductibles, memoranda of insurance, security agreements, certificates of insurance and non-disclosure agreements.
3. Provided legal advice as appropriate regarding new product filings. Review and respond to legal issues raised by states regarding filed products.
4. Stay abreast of regulatory and compliance issues:
- Amend business practices and products as needed for legal compliance purposes.
-Communicate legal compliance issues to underwriting staff.
Counseling: Communicate effectively with underwriters and senior management:
1. Maintain control over and adherence to the endorsement drafting process.
2. Maintain control over and adherence to the product drafting process, while making it collaborative and team-spirited.
3. Understanding quickly and smoothly what is being requested by the underwriters.
4. Provide additional guidance and suggestions where needed on drafting.
5. Provide technical training on regulatory law, case law, and coverage developments.
6. Maintain client confidence.
7. Maintain consistency in drafting across product forms, where possible.
8. Participate in meetings with clients, underwriters, brokers and similar forums.
Education: Review and learn developing professional/management liability, regulatory, and insurance case law and related subject matter through seminars, industry academic course work, and readings. Maintain and update professional and legal depth of knowledge and credentials by:
1. Regular review of case and statutory law developments.
2. Attend and complete continuing legal education coursework.
Qualifications Summary:
? Legal degree with proven strength in drafting and contractual law
? Experience in policy and endorsement drafting in D&O
? Familiarity with case law in the area of D&O
? Experience in state filings, licensing and regulations preferred
? Ability to work on multiple tasks and assign priorities to each
? Strong influence skills, with the ability to build collaborative relationships both within and across functional lines
? Insurance industry knowledge
? Demonstrated ability to understand business needs and provide consultation that helps to meet business goals
? Demonstrated ability to achieve results
? Change leadership skills
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