General Re Corporation, a subsidiary of Berkshire Hathaway Inc., is a holding company for global reinsurance and related operations, with more than 2,000 employees worldwide. Its direct reinsurance companies conduct business as Gen Re.
Gen Re delivers reinsurance solutions to the Life/Health and Property/Casualty insurance industries. Represented in all major reinsurance markets through a network of more than 40 offices, we have earned superior financial strength ratings from each of the major rating agencies.
Gen Re currently offers an excellent opportunity for a Contracts Specialist in our Stamford, CT office.
The Contracts Specialist focuses on reinsurance contracts, policy wording, or both. The Contracts Specialist provides guidance for Underwriters, Marketers and others involved in wording discussions. The Contracts Specialist is viewed as a mentor on wording issues throughout the Gen Re organization.
- Reinsurance Contracts – In this capacity, the Contracts Specialist reviews a wide array of market-produced reinsurance contracts against corporate standards and agreed-upon terms. Contracts span various lines (property, casualty, specialty) and structures (excess of loss, quota share, aggregate, per risk, per occurrence, per policy). The Contracts Specialist analyzes the contract provisions and suggests alternative wording where needed. Additionally, the Contracts Specialist drafts reinsurance contracts based on corporate standard wordings or client contracts/clauses.
- Policy Wording – In this capacity, the Contracts Specialist reviews a broad spectrum of policy forms, including bureau, company specific and manuscript wordings. Most often, this involves primary casualty, umbrella, or specialty policies and endorsements but occasionally property forms as well. The Contracts Specialist identifies language that deviates from current standard forms or common industry practices, or that does not reflect the underwriting intent. The Contracts Specialist provides constructive wording alternatives for company use.
- Keep current on reinsurance contract/policy wording developments and communicate importance and impact of wording changes to Underwriters and Marketers.
- Continually develop specialized knowledge of particular lines of business in order to identify wording solutions that pertain to that business segment.
- Collaborate with other Contracts Specialists, Underwriters, and Claims and Legal colleagues to improve wordings.
- Continually develop specialized knowledge of contract/policy structures or features to address business needs.
- Set challenging goals and work to meet them.
- Effectively manage time and meet deadlines.
- College degree required. CPCU designation/law degree desirable.
- Sustained track record in a Contracts Specialist or similar position. Experienced Underwriters/Claims Professionals with coverage and reinsurance expertise may also be considered.
- Extensive knowledge of reinsurance/primary insurance standards, practices and principles.
- Strong knowledge of specific contract/policy features and lines of business.
- Excellent analytical and communication skills.
- Very high attention to detail and accuracy.
- Ability to work independently and collaborate with colleagues within and across departments.
- Excellent Technology skills, including Outlook, Word, Adobe and Excel.