Aon Corporation
Managing Director - Contracts
Aon Corporation, Bloomington, Minnesota, United States,
Aon is looking for a Managing Director of Contract Wordings
As part of Aon's Reinsurance Solutions team, you will be responsible for preparing, reviewing and finalizing formal documentation memorializing terms and conditions applicable to treaty reinsurance arrangements. You will be challenged to learn and remain well informed of industry terms and conditions, as well as trends and regulations to remain driven.
Role Responsibilities
Participate in client, reinsurer and broker team meetings, and have an active support role in the growth of our business.
Bring quick comprehension of reinsurance structures and intent to the role to assist broker and client services teams with design and interpretation of contract language addressing complex coverage designs and potential loss scenarios.
Partner with broker team to answer client and reinsurer questions about contract language during the negotiation phase of reinsurance placement and to actively participate in internal and external discussions to clarify wording provisions.
Participate in Request for Proposal (RFP) and sales presentations by reviewing competitor wordings and recommending coverage and wording enhancements in order to drive business growth.
Contribute to client training sessions and the development of material disseminated to brokers and/or clients regarding contract wording trends and potential enhancements for clients to consider.
Develop a detailed understanding of changing insurance and risk management market conditions and keep clients and account executives updated of developments affecting various types of products by acting as an expert on reinsurance topics and providing recommendations relating to contract wording.
Support the development of training materials and deliver technical trainings.
Capability to work efficiently and independently, learn quickly, prioritize, and meet internal goals while remaining analytical and thorough.
Support multiline reinsurance business for Global and US clients.
Required Skills/Education
Minimum 12 years of relevant experience in insurance or reinsurance as a lawyer/attorney or as contract/policy specialist preferably with a focus on reinsurance structures and drafting/interpreting treaty wordings for domestic and/or global placements.
Desired Skills
Intuition for business with the ability to effectively drive the business forward with a thoughtful, proactive, and practical approach.
Good primary insurance coverage knowledge.
Experience with Casualty lines.
Strategic and analytical problem solver, including basic math proficiency and proven problem solving skills.
We support our colleagues!
In addition to our comprehensive benefits package, we encourage a diverse workforce. Plus, our agile, inclusive environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at Aon.
Pay transparency laws:The salary range for this position is $150,000 to $200,000 annually. The actual salary will vary based on applicant’s education, experience, skills, and abilities, as well as internal equity and alignment with market data. The salary may also be adjusted to reflect applicant’s geographic location.
This position is eligible to participate in one of Aon’s annual incentive plans to receive an annual discretionary bonus in addition to base salary. The amount of any bonus varies and is subject to the terms and conditions of the applicable incentive plan.
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As part of Aon's Reinsurance Solutions team, you will be responsible for preparing, reviewing and finalizing formal documentation memorializing terms and conditions applicable to treaty reinsurance arrangements. You will be challenged to learn and remain well informed of industry terms and conditions, as well as trends and regulations to remain driven.
Role Responsibilities
Participate in client, reinsurer and broker team meetings, and have an active support role in the growth of our business.
Bring quick comprehension of reinsurance structures and intent to the role to assist broker and client services teams with design and interpretation of contract language addressing complex coverage designs and potential loss scenarios.
Partner with broker team to answer client and reinsurer questions about contract language during the negotiation phase of reinsurance placement and to actively participate in internal and external discussions to clarify wording provisions.
Participate in Request for Proposal (RFP) and sales presentations by reviewing competitor wordings and recommending coverage and wording enhancements in order to drive business growth.
Contribute to client training sessions and the development of material disseminated to brokers and/or clients regarding contract wording trends and potential enhancements for clients to consider.
Develop a detailed understanding of changing insurance and risk management market conditions and keep clients and account executives updated of developments affecting various types of products by acting as an expert on reinsurance topics and providing recommendations relating to contract wording.
Support the development of training materials and deliver technical trainings.
Capability to work efficiently and independently, learn quickly, prioritize, and meet internal goals while remaining analytical and thorough.
Support multiline reinsurance business for Global and US clients.
Required Skills/Education
Minimum 12 years of relevant experience in insurance or reinsurance as a lawyer/attorney or as contract/policy specialist preferably with a focus on reinsurance structures and drafting/interpreting treaty wordings for domestic and/or global placements.
Desired Skills
Intuition for business with the ability to effectively drive the business forward with a thoughtful, proactive, and practical approach.
Good primary insurance coverage knowledge.
Experience with Casualty lines.
Strategic and analytical problem solver, including basic math proficiency and proven problem solving skills.
We support our colleagues!
In addition to our comprehensive benefits package, we encourage a diverse workforce. Plus, our agile, inclusive environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at Aon.
Pay transparency laws:The salary range for this position is $150,000 to $200,000 annually. The actual salary will vary based on applicant’s education, experience, skills, and abilities, as well as internal equity and alignment with market data. The salary may also be adjusted to reflect applicant’s geographic location.
This position is eligible to participate in one of Aon’s annual incentive plans to receive an annual discretionary bonus in addition to base salary. The amount of any bonus varies and is subject to the terms and conditions of the applicable incentive plan.
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