What are the responsibilities and job description for the Reinsurance Contracts Specialist position at AmericanAg®?
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.
The Reinsurance Contracts Specialist is responsible for:
- 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
What is needed for this role:
- 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
- Professional designations such as CPCU or ARe preferred
The expected starting salary range for this position is between $75,000 and $105,000. Applicable salary ranges may differ across markets. Actual pay will be determined based on experience and other job-related factors permitted by law. This position is also eligible for an annual productivity bonus.
For information regarding our benefits, please click here.
We do not sponsor employment visas and are unable to take over an employment visa from another employer. Applicants must be authorized to work in the U.S. for ANY employer without the need for employment visa sponsorship.
Who We Are
Since 1948, AmericanAg® has provided reinsurance services that promote the financial strength and success of its clients. We are a direct provider of reinsurance to farm bureau insurance companies and also participate in assumed U.S. and international reinsurance programs through the broker marketplace.
Reasons to Consider AmericanAg®: At AmericanAg®, you’ll work alongside a diverse team of highly educated and experienced professionals. We foster a dynamic culture where innovative ideas are championed and brought to life and where employees are appreciated, engaged, and encouraged to reach their full potential.
AmericanAg® participates in E-Verify. Learn more about applicant rights under Federal Employment Laws.
Salary : $75,000 - $105,000