In this role, you will work closely with the VP, Corporate Treasurer to support commercial insurance strategies worldwide. Role requires active participation in all phases of property/casualty insurance placements, including identifying potential loss exposures and analyzing appropriate risk finance techniques for management response. Responsibilities will involve marketing and placement of designated insurance policies, as well as providing ongoing oversight and support for financial and claims administration duties as may be required.
Job Description
Insurance Strategy:
- Coordinate the renewal processes for all lines of insurance including compilation of exposure data necessary for each coverage; these processes involve interaction with various Finance, Facilities, Human Resources and Operations groups throughout our global footprint.
Claims Management:
- Provide timely notice of workers’ compensation and third-party liability claims to appropriate insurer or third-party administrator; provide notice of a circumstance to Quaker Houghton’s captive insurer on potential liability claims that could exceed the underlying insurance limits. Work with Legal and Operations on reserve and settlement strategies.
- Process internal invoice requisitions and billing documents for supervisory approval. Review invoice statements for accuracy and address billing issues to final resolution.
- Review loss runs; identify costs/benefits of insurable v. retained risks, participate in claim reviews and strategy sessions with senior management. Prepare monthly/quarterly loss reports for Corporate/ Legal review as requested.
Ongoing Support:
- Generate property & casualty certificates of insurance requests upon request.
- Maintain strong working relationships with internal (Finance, Legal, HR, EHS representatives) and external (insurance brokers and underwriters) clients. Maintain working knowledge of the global property/casualty insurance marketplace.
- Support Legal in analyzing insurance and risk management provisions in current and potential contracts.
- Prepare premium allocations for both U.S. and Foreign subsidiaries; provide budget guidance.
- Respond to general insurance questions from sites
Treasury Support:
- Willingness and interest in helping treasury team manage daily activities including cash management and forecasting, foreign exchange management and other tasks as needed.