Foundation Risk Partners, Corp.
Senior Commercial Lines Account Executive Teaneck, New Jersey, United States
Foundation Risk Partners, Corp., Teaneck, New Jersey, United States
Overview
Teaneck, New Jersey, United States Foundation Risk Partners , one of the fastest growing insurance brokerage and risk management consulting firms in the US, is adding a Senior Account Executive to their Risk Management Consulting Practice in the NJ Metro Region. Job Summary: This position will act as the account manager for approximately 20 domestic and international clients with combined annual property and casualty insurance premiums of over $30 Million. Client industries include construction, real estate, manufacturing, private equity and hospitality and others. Manage the insurance and risk management programs of those clients including the placement of all traditional, non-traditional insurance for all clients. Responsibilities
Gather, summarize and present renewal exposures prior to renewal of all lines of property and casualty insurance coverage. Develop service requirements for potential insurance brokers and carriers; interview, vet and select brokers requested to bid on insurance programs. Design insurance policy language specifications; prepare renewal submissions and provide them to the marketplace. Review and analyze all insurance proposals, negotiate terms and premiums, and address underwriting questions from the marketplace. Recommend to clients the insurance programs best suited for their exposures and risks. Oversee the placement of winning insurance bids; ensure binders, policies and endorsements are issued correctly and request amendments when needed. Manage day-to-day needs of clients’ risk management programs, including managing internal risk management teams/departments and reporting to CFO on implementation and management of corporate risk control programs. Counsel senior management on transactional risk exposures using economic models and risk–benefit analyses. Oversee all insurance broker and other third-party risk management vendors to ensure alignment with the client’s best interests. Set up and coordinate clients’ disaster recovery and business continuity plans. Review, draft and negotiate insurance provisions in vendor contracts, leases, loans and other contracts using contractual risk transfer. Ensure compliance of insurance certificates requested by vendors and review certificates from third parties for acceptance. Schedule and coordinate loss control inspections and valuations; address loss control concerns and adjust valuations with carriers as needed. Set up and train clients’ claims staff and review all first/third party claims; report all claims to appropriate policies and carriers. Run quarterly claims review meetings to ensure losses are adjusted efficiently and reserves are appropriate. Create loss pick and forecasting models using current loss cost factors to anticipate claim trends; analyze loss frequency/severity to identify patterns and reduce future occurrences. Coordinate the claims recovery process and assist in loss adjustment for maximum benefit and timely payments. Set up and manage captive insurance programs; present exposures, negotiate pricing, advise on cash management and perform financial statement reviews. Additional Skillsets/Job Functions
Due Diligence project team for Private Equity clients, including pre-acquisition risk management and insurance reviews of target companies. Establish benchmarks to evaluate insurance transactions and offers; solicit competitive bids for new coverage for newly acquired entities. Analyze, negotiate and bind appropriate coverages; transition new entities into master programs or standalone programs as appropriate. Create Master property insurance programs for portfolio companies to maximize terms of coverage and buying power. Competencies & Qualifications:
NJ P&C license AMS360 or EPIC 10+ years experience with real estate, construction and manufacturing clients (highly preferred) Preference for EST candidates but will consider other time zones based on experience This range represents the estimated low and high end of the salary range for this position. Actual salaries will vary and may be above or below the range based on factors including but not limited to performance, location, and experience. The range listed is just one component of FRP’s total compensation package for employees. Pay Transparency Range $125,000 - $225,000 USD Equal Employment Opportunity (EEO):
FRP provides equal employment opportunity to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or any other classifications protected by law. Disclaimer:
This job description reflects requirements as of the date shown and FRP reserves the right to modify, add, or remove duties as necessary.
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Teaneck, New Jersey, United States Foundation Risk Partners , one of the fastest growing insurance brokerage and risk management consulting firms in the US, is adding a Senior Account Executive to their Risk Management Consulting Practice in the NJ Metro Region. Job Summary: This position will act as the account manager for approximately 20 domestic and international clients with combined annual property and casualty insurance premiums of over $30 Million. Client industries include construction, real estate, manufacturing, private equity and hospitality and others. Manage the insurance and risk management programs of those clients including the placement of all traditional, non-traditional insurance for all clients. Responsibilities
Gather, summarize and present renewal exposures prior to renewal of all lines of property and casualty insurance coverage. Develop service requirements for potential insurance brokers and carriers; interview, vet and select brokers requested to bid on insurance programs. Design insurance policy language specifications; prepare renewal submissions and provide them to the marketplace. Review and analyze all insurance proposals, negotiate terms and premiums, and address underwriting questions from the marketplace. Recommend to clients the insurance programs best suited for their exposures and risks. Oversee the placement of winning insurance bids; ensure binders, policies and endorsements are issued correctly and request amendments when needed. Manage day-to-day needs of clients’ risk management programs, including managing internal risk management teams/departments and reporting to CFO on implementation and management of corporate risk control programs. Counsel senior management on transactional risk exposures using economic models and risk–benefit analyses. Oversee all insurance broker and other third-party risk management vendors to ensure alignment with the client’s best interests. Set up and coordinate clients’ disaster recovery and business continuity plans. Review, draft and negotiate insurance provisions in vendor contracts, leases, loans and other contracts using contractual risk transfer. Ensure compliance of insurance certificates requested by vendors and review certificates from third parties for acceptance. Schedule and coordinate loss control inspections and valuations; address loss control concerns and adjust valuations with carriers as needed. Set up and train clients’ claims staff and review all first/third party claims; report all claims to appropriate policies and carriers. Run quarterly claims review meetings to ensure losses are adjusted efficiently and reserves are appropriate. Create loss pick and forecasting models using current loss cost factors to anticipate claim trends; analyze loss frequency/severity to identify patterns and reduce future occurrences. Coordinate the claims recovery process and assist in loss adjustment for maximum benefit and timely payments. Set up and manage captive insurance programs; present exposures, negotiate pricing, advise on cash management and perform financial statement reviews. Additional Skillsets/Job Functions
Due Diligence project team for Private Equity clients, including pre-acquisition risk management and insurance reviews of target companies. Establish benchmarks to evaluate insurance transactions and offers; solicit competitive bids for new coverage for newly acquired entities. Analyze, negotiate and bind appropriate coverages; transition new entities into master programs or standalone programs as appropriate. Create Master property insurance programs for portfolio companies to maximize terms of coverage and buying power. Competencies & Qualifications:
NJ P&C license AMS360 or EPIC 10+ years experience with real estate, construction and manufacturing clients (highly preferred) Preference for EST candidates but will consider other time zones based on experience This range represents the estimated low and high end of the salary range for this position. Actual salaries will vary and may be above or below the range based on factors including but not limited to performance, location, and experience. The range listed is just one component of FRP’s total compensation package for employees. Pay Transparency Range $125,000 - $225,000 USD Equal Employment Opportunity (EEO):
FRP provides equal employment opportunity to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or any other classifications protected by law. Disclaimer:
This job description reflects requirements as of the date shown and FRP reserves the right to modify, add, or remove duties as necessary.
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