Location: Charlotte, North Carolina
Title: Senior Vice President
Requirements: 4 years of experience in the Management and oversight of Llyod’s Coverholder clients. Experience must include: Leading and oversight of the overall property portfolio underwritten on behalf of, and placed with, insurance carrier partners. Development, oversight and maintenance of rates, rules and guidelines for property portfolios and large loss review. Coordinating the annual compliance attestation package for clients in order for them to remain an approved Coverholder at Lloyds. Utilization and operation of catastrophe models such as RMS and AIR Model. Processing the bordereaux through Lloyds. Working with TPA’s to pay-claim delegated by Lloyds syndicates in their agreements.
Job Duties: Responsible for the management and oversight of clients that are Lloyds (Insurance and Reinsurance providers) Coverholder’s who have the authority to write business on behalf of Lloyds syndicates. Responsible for leading, and oversight of the overall property portfolio underwritten on behalf of, and placed with, insurance carrier partners. Develop and guide new clients through the Lloyds Coverholder process such as due diligence, assist in compiling the new application, underwriting guidelines and developing rating algorithm for new and existing clients. Responsible for the development, oversight and maintenance of rates, rules and guidelines for property portfolios and large loss review. Coordinate annual compliance attestation package for clients in order for them to remain an approved Coverholder at Lloyds which includes: Submitting details via the Lloyds system ‘Atlas’ such as; Financial Statements, E&O certificate, and Licenses and Coordinating clients annual Lloyds Audit such as; Ensuring compliance with recommendations. Develop relationships with underwriters at Lloyds syndicates in order to place both individual risks and binding authority agreements with them. Collaborate with traditional US domestic insurance carriers and leading the interactions with the Lloyds broker(s) and syndicate. Responsible for reviewing and responding to auditors the annual compliance attestation package for clients in order for them to remain an approved Coverholder at Lloyds. Responsible for the monthly monitoring of clients binding authority contracts to ensure adherence to the Lloyds reporting standards. Use and operate catastrophe models such as RMS and AIR Model for the following: assess risks, provide damage estimations for both Probable Maximum Loss (PML) and Average Annual Loss (AAL), measure a capital providers’ portfolio catastrophe exposures; understand the catastrophe pricing adequacy of a portfolio and individual risks, managing aggregation of exposures and identifying top drivers in order to improve portfolio modeling metrics. Process the bordereaux (premiums payable and claims paid or due which is prepared by a coverholder for a managing agent or by a reassured for its reinsurer) through Lloyds. Implement underwriting tools to enable our underwriters to make more informed decisions including upfront catastrophe modeling. Work with TPA (Third Party Administrators) to pay claim delegated by Lloyds syndicates in their agreements. Responsible for aggregate monitoring to ensure contract aggregate caps are not exceeded. Responsible for the Risk Level Data Bordereaux reconciliation. Communicate with both Lloyds syndicates and Amwins Access underwriters. Manage the annual contract renewals with Lloyds of London.