Attorney in Jersey City, NJ

In-House

Jersey City, NJ

Attorney in Jersey City, NJ

Non-practicing Attorney

5-7 yrs required

No

Job Title: PRS Product Development Specialist

Job Responsibilities:
The PRS Product Development Specialist is tasked with developing insurance contract language for the company's non-admitted personal lines products, including home, auto, excess liability, valuable articles, and flood insurance. The specialist's responsibilities include:
- Developing and enhancing personal lines surplus lines insurance policies to align with company strategy and regulatory standards.
- Adapting contract language to match the underwriting intent and strategy.
- Drafting precise policy language and creating quality contract mockups efficiently.
- Participating in IT testing of policy wording to ensure accuracy, functionality, and compliance with requirements.
- Conducting research and analysis on competitor policy language.
- Understanding emerging risks and hazards impacting personal lines insurance.
- Scheduling and facilitating policy review meetings with stakeholders.
- Facilitating and conducting policy wording training with underwriters and operations team members as needed.
- Creating and maintaining accurate documentation and templates.
- Collaborating with the Legal department to ensure policy language accuracy, legal compliance, and alignment with business objectives.
- Working collaboratively with various stakeholders including Underwriting Managers, Underwriters, Project Managers, Operations, Legal, and IT.
- Responding to ad hoc business requests such as coverage questions, product analysis, reviewing communications for accuracy and alignment with strategies, and conducting historical research on prior projects.
- Documenting all work to meet internal compliance standards and achieve favorable audit results.

Education and Experience Information:
- A Bachelor’s degree is required. CPCU, other industry designations, or advanced degrees in business or law are a plus.
- Experience in a product development role for an insurance company specializing in surplus lines products is preferred. Personal lines experience is a plus.

Salary Information:
The pay range for the PRS Product Development Specialist role is $93,700 to $159,300. The specific offer will depend on an applicant’s skills and other factors. This role may also be eligible to participate in a discretionary annual incentive program. The company offers a comprehensive benefits package, more details of which can be found on their careers website. The disclosed pay range estimate may be adjusted for the applicable geographic differential for the location in which the position is filled.

Company Information:
The company is a world leader in insurance, operating in 54 countries. It offers commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is known for its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise, and local operations globally.

The company is committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Their policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, and pregnancy or any other characteristic protected by law. Performance and qualifications are the only basis upon which they hire, assign, promote, compensate, develop, and retain employees. The company prohibits all unlawful discrimination, harassment, and retaliation against any individual who reports discrimination or harassment.