Insurance Specialist / Assistant Manager (Asset Owner)
- Full time
- Singapore, Singapore View on Map
- posted 6 days ago
- Posted: September 19, 2023 -Accepting applications
- Identify, explore, and recommend suitable insurance options that align with industry practices for the business activities of the renewables sector worldwide.
- Involvement in negotiating insurance placements and renewals, reviewing insurance terms and limits to ensure that the Company obtains the most favourable insurance arrangements and that they are placed or renewed in a timely manner.
- Collaborate with the project’s legal counsel to review tender documents, due diligence insurance documents, contracts, and charter parties. Actively participate in relevant meetings to address insurance risks and provide clarifications or solutions based on industry best practices.
- Provide support to stakeholders by obtaining the most favourable indicative premium for the insurances to be procured for potential projects. This will enable the project and financing team to accurately price the budget and financing model.
- Provide support in identifying gaps in contractual terms to minimize risk exposures and ensure that contractual obligations related to insurance are fulfilled and any exceptions are appropriately highlighted.
- Analyse and interpret insurance policies and coverage.
- Ensure that the relevant contracting party complies with all insurance requirements stated in the contract.
- Provide day-to-day support to stakeholders, clients, internal departments, subsidiaries, and associated companies regarding insurance matters. This support will encompass existing and new charters, projects, tenders, as well as other insurance-related concerns.
- Verify premiums to ensure the timely processing of payment. This will help avoid any delays in issuing certificates or potential policy cancellations.
- Maintain and monitor the premium payment database to ensure that insurance documentation and premium payments are kept up-to-date and well-organised.
- Managing claims under various policies as necessary and ensure that reimbursements are received in a timely manner.
- Assist the department head or manager with any insurance programs and special projects as assigned by them.
- Provide a monthly report summarising the tasks he/she has performed.
- Any ad-hoc duties that may be required.
- Degree or above from an accredited university is required.
- Preferably with law degree or professional certification in insurance or equivalent.
- The ideal candidate should have a minimum of 3 years of experience in insurance and risk management.
- Possess the ability to work independently while also being an effective team player.
- Adaptability, proactiveness, excellent communication and interpersonal skills are essential qualities for this role.
- Candidates with experience in Captive insurance is preferred. Experience in Oil and Gas and/or Energy insurance will be an advantage.