Insurance Executive
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Key skills for this role
About the Role
The Insurance Specialist will be responsible for managing all insurance-related activities for the company's EPC (Engineering, Procurement & Construction) projects. This include.
Key Skills for This Role
Responsibilities
- Identify and assess insurance needs for various EPC projects, including CAR, Third Party Liability, Professional Indemnity, Workmen’s Compensation, Marine Cargo, and Equipment Insurance.
- Evaluate and procure project specific and corporate insurance policies in line with contract requirements.
- Ensure policy renewals and endorsements are completed on time.
- Work with project teams to identify potential risks and suggest appropriate insurance solutions.
- Ensure compliance with local and international insurance regulations, contract requirements, and company policies.
- Coordinate with legal and finance teams to review contract terms related to insurance obligations.
- Manage the end to end claims process, from reporting losses to negotiating settlements with insurers.
- Coordinate with site teams, insurers, and loss adjusters for timely claims processing.
- Maintain detailed records of claims history and insurance costs.
- Act as key liaison between company, insurers, brokers, subcontractors, and project clients.
- Work with finance teams to budget and forecast insurance expenses for projects.
- Provide insurance related inputs for tender submissions and contractual negotiations.
Requirements
- Experience in insurance management for EPC or construction projects
- Knowledge of Contractor's All Risk, Third Party Liability, Professional Indemnity, Workmen's Compensation, Marine Cargo, and Equipment Insurance
- Strong understanding of insurance regulations and contract terms
- Excellent communication and negotiation skills
- Ability to manage end to end claims process
Full Job Posting
Job Summary
- The Insurance Specialist will be responsible for managing all insurance related activities for the company's EPC (Engineering, Procurement & Construction) projects.
- This includes assessing project risks, ensuring appropriate insurance coverage, handling claims, and liaising with insurers and project stakeholders.
Key Responsibilities
- Identify and assess insurance needs for various EPC projects, including Contractor’s All Risk (CAR), Third Party Liability, Professional Indemnity, Workmen’s Compensation, Marine Cargo, and Equipment Insurance.
- Evaluate and procure project specific and corporate insurance policies in line with contract requirements.
- Ensure policy renewals and endorsements are completed on time.
- Work with project teams to identify potential risks and suggest appropriate insurance solutions.
- Ensure compliance with local and international insurance regulations, contract requirements, and company policies.
- Coordinate with legal and finance teams to review contract terms related to insurance obligations.
- Manage the end to end claims process, from reporting losses to negotiating settlements with insurers.
- Coordinate with site teams, insurers, and loss adjusters for timely claims processing.
- Maintain detailed records of claims history and insurance costs.
- Act as the key liaison between the company, insurers, brokers, subcontractors, and project clients.
- Work with finance teams to budget and forecast insurance expenses for projects.
- Provide insurance related inputs for tender submissions and contractual negotiations.
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