Job Details

Insurance Coverage Attorney in Chicago, IL

This job is expired...

Company name

Aon PLC.

Organization Type

In-House

Job Type

Attorney

Practice Area

Insurance Coverage

Years of Experience

Min 1 yrs required

Location

USA Chicago, IL

Date Last Verified

Aug 14,2017

Posted on

Jul 04,2017

49 hits

Profile

Senior Risk Consultant - Lender Due Diligence The candidate will oversee and manage a team of professionals in the delivery of exceptional service to clients. Reporting to the Managing Director of the Risk Management Outsourcing practice, will be part of an industry-leading team, will help empower results for our clients by delivering innovative and effective solutions. Leads a specialized Team assisting clients, both Lenders and Borrowers in navigating and conforming to insurance related loan covenants, assisting the parties to bring the transaction to financial close. Additionally supports the ongoing annual monitoring of compliance throughout the lifespan of the financial transaction. Manage all client aspects and service lifecycle, including: Proposals and pricing of lender due diligence service we offer. Resource allocation and scheduling. Peer review and sign-off of all deliverables. Ensuring all projects are delivered to the highest professional standard as promised. Project profitability. Assessment and analysis of the risks of the Project, and how, such risks could be transferred by insurance. If required, provide recommendations with respect to the drafting of insurance provisions in the Financing Documents to reflect the Financing Parties’ interests. Review the proposed insurance program including, but not limited to, coverage, sums insured and deductibles to ensure that it satisfies the requirements under the Financing Documents and is in compliance with any applicable laws. Review the proposed insurance policies of other Project participants as required by the various Project Documents and Financing Documents to ensure they satisfy the requirements thereunder and are in compliance with any applicable laws, and compare against standard industry practice. Comment on technology issues to the extent that they impact on insurances. Comment on any reasonable uninsured and uninsurable risks identified during Consultant’s review. Consultant will assess risks of accidental property, liability and workers compensation loss to which the Project is exposed but will not provide the probability of the potential loss. Review the insurance and reinsurance policy wordings, including, but not limited to, clauses, assignment documentation, conditions precedent and subsequent conditions (if any) to make sure (i) they are consistent with the insurance program agreed to with the Financing Parties, (ii) there are no clauses unduly onerous or detrimental to the Financing Parties’ interests and (iii) they are in accordance with standard market practice for limited recourse project financings. Advise on drafting of insurance requirements in the Financing Documents and review the reliability and creditworthiness of the insurance and reinsurance companies and organizations participating in the Project’s insurance program, including a review and confirmation of the A.M. Best rating, Standard & Poor’s or Moody’s or other similar ratings. Assess the on-going availability of the types of insurances required for the Project and confirm that the costs for procuring and maintaining such insurances are adequate and have been appropriately budgeted by the Project. Prepare an Insurance Advisor report for the benefit of all Financing Parties, addressing the above points. Provide advice and assistance to the Financing Parties with regard to the above points, including participation in negotiations with the Project, the sponsor and other Project participants as required. Certify that all the required insurance policies are actually in place, in full force and effect and in compliance with the Financing Documents and the Project Documents and any applicable laws, prior to initial draw-down. Cooperation - Consultant will coordinate with other consultants to the Financing Parties such as any technical consultants and legal counsel, as the case may be.

Qualification and Experience

Qualifications: Bachelor’s degree. JD Degree. Experience in international insurance markets, with focus on Latin America. Experience in lender due diligence for large financial institutions. Preferred: Spanish language fluency (written & spoken).

Additional info

Job number: 2432755

Company info

Hiring Coordinator
Aon PLC.
311 S Wacker Drive
Suite 2100
Chicago, IL 60606-6675