Product Counsel Consultant

Warren, NJ
Full Time
Job #: UND00036B Exp.: 5 - 7 Years
Job Summary
Supporting Financial Institutions/Management Liability/Cyber Liability/Health Care and Program business partners by:
  • Disseminating legal information to underwriting, claims and other management teams on legal developments that effect the above products and business.
  • Developing, drafting and delivering concise and clear contract language to meet market demand and support corporate underwriting appetite while safeguarding financial assets.
  • Creating and developing new solutions and strategies to execute underwriting strategy for new products and business opportunities efficiently and compliantly.
  • Directors and Officers Liability
  • Crime/Fidelity and Bond
  • Kidnap, Ransom and Extortion
  • Fiduciary Liability
  • Professional Liability
  • Cyber
  • Excess Liability
  • Health Care E&O
  • Health Care Facilities Employment Practices Liability
  • Workplace Violence
  • Bankers Professional Liability
  • Insurance Company Professional Liability
  • Asset Managers and PE/VCAP Liability
  • Media and Technology Liability
  • Side A Liability
  • Program Management
  • Architects & Engineers Liability
  • Lawyers Professional Liability
Essential Duties & Responsibilities:
  • Develop, revise, and maintain policy forms and endorsements for above product lines in admitted, non-admitted and international markets. Responsible for overseeing the product through its lifecycle to meet the demands of the market, regulatory environment and business partners.
  • Drive strategic direction of underwriting leadership by successful product development ensuring legal and regulatory compliance with end product.
  • Monitor, evaluate and advise business areas regarding judicial, legislative and regulatory activity and industry developments identifying, escalating and disseminating emerging issues that may impact product lines.
  • Report regularly to senior management on status of product lifecycle, recognizing inefficiencies and providing process solutions.
  • Assist business partners with coverage strategy and portfolio management, communicate and collaborate with Legal, Claims, Underwriting and Actuarial.
  • Deliver and coordinate learning and development opportunities for underwriting to further technical coverage knowledge and product use.
  • Respond to business requests, including coverage questions, compliance inquiries, product analysis and communications review for accuracy and ensuring alignment to strategies.
  • Establish and maintain strong collaborative relationships with internal and external customers.
  • May perform additional duties as assigned.
Skills and Knowledge Required:
  • Firm technical knowledge of insurance business including product development, underwriting, claim, legal, and regulatory issues for admitted and non-admitted forms in above identified lines of business.
  • Ability to resolve short term problems while supporting long-term objectives.
  • Excellent written and oral communications skills as well as strong time-management, prioritization and project management skills.
  • Demonstrated ability to work in a fast paced environment with a strong focus on teamwork.
  • Proven record of working independently, managing competing priorities, meeting deadlines and adding value.
  • Demonstrated record of collaborative relationships with customers, subordinates, senior management and external business partners.
  • Strong computer skills including Microsoft Office Suite, PowerPoint, SharePoint, Adobe and other business related software systems.
  • Detail and execution oriented.
Education & Experience Required:
  • Bachelor's degree with J.D.
  • Minimum of five to seven years related work experience in commercial specialty lines drafting and/or insurance claims.

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