Senior Insurance Specialist

The Senior Insurance Specialist plays a key role in the Finance organization by developing corporate insurance strategy, managing the corporate insurance program and annual renewal process, leading all insurance claims, providing insurance-related comments on various types of contracts, and communicating with Headquarters and CNPC Captive about any insurance-related matters. This position reports to the Manager, Tax, Treasury & Insurance.

Accountabilities

The accountabilities of this position include, but are not limited to:

• Establish, review, execute and maintain corporate insurance management policy, procedures and standards
• Lead insurance risk assessment and development of corporate insurance strategy:
• Review company risk profiles and insurable risks
• Assess/analyse insurance strategy to align with PCC’s risk appetite
• Assess insurance coverage and limits based on loss scenarios
• Develop insurance strategy for corporate risk transfer
• Lead the task force working with insurers on conducting required insurance and risk surveys for policy renewal, which also benefit risk management
• Lead preparation of insurance underwriting and other related information:
• Act as key point of contact for all insurance-related information: requesting, collecting and analyzing insurance underwriting information
• Prepare underwriting information and respond to enquiries and additional requests, as required
• Monitor, update, and communicate additional information required throughout relevant policy periods, as required
• Communicate insurance risk information to business and function units, as applicable 
• Design and marketing of insurance programs:
• Review existing insurance programs against risk profiles and corporate insurance strategy
• Establish individual renewal marketing strategy and target according insurance policy
• Organize insurance roadshows and related meetings
• Liaise and instruct insurance brokers during marketing process
• Obtain and review quotations from insurers, provide feedback and instructions to brokers, and recommend the best insurance options for Executive Committee’s review and decisions
• Review insurance documentation including, but not limited to slips, binders, policy wordings, endorsements, invoices, etc.
• Manage insurance claims:
• Create and maintain corporate loss record by policy
• Review accident reports and prepare notice to insurer
• Work with business and/or function units, insurance brokers, loss adjusters and insurers, as required, to seek maximum recovery based on insurance coverage
• Work with relevant internal and external parties on insurance disputes, as required
• Review contracts for liabilities and insurance clauses:
• Support with contract negotiation by reviewing the liability and insurance clauses and provide comments and amendments, as applicable 
• Review certificate of insurance provided by JV partners and contractors to ensure they comply with contractual requirements
• Work with insurance broker to issue certificate of insurance for regulatory and contractual compliance
• Monitor emerging risks and provide insurance transfer options for company’s review
• Process insurance premium adjustments, as applicable
• Maintain all documents and records related to insurance
• Assist business and function units in insurance-related matters
• Prepare and submit insurance annual renewal report to HQ for approval
• Manage, amend and negotiate contracts with insurance broker
• Provide other insurance-related services, as required
• Create an awareness and appreciation for insurance-related matters throughout the organization, and mentor others within finance and the business to enhance the insurance-related knowledge and competency of others within the company

Qualifications

• Undergraduate degree in insurance, finance, accounting, risk management or other business related major
• 5+ years applicable experience in a full-time insurance role in an energy company or with an insurance broker that specializes in providing insurance for an energy company
• Knowledge and experience in handling insurance for an energy company, including, but not limited to:
• Property & Business Interruption
• Commercial General Liability and Umbrella Liability
• Control of Well / Operator’s Extra Expense
• Environmental Legal Liability
• Directors & Officers Liability
• Builders All Risks / Construction & Erection All Risks
• Knowledge in the North America and international insurance market for the energy industry and the underwriting priority issues
• Knowledge and experience in working with a captive insurance company, insurance brokers, underwriters, loss adjusters and legal counsel
• Solid experience with insurance management concepts, practices and procedures
• Strong ability to manage multiple internal clients and external stakeholders (including business partners, insurance brokers and underwriters, parent company and its captive insurance company, loss adjusters and legal counsel), and remain productive within a time-sensitive and fast-paced environment
• Excellent communication (written & verbal) and interpersonal skills with the ability to effectively communicate key data, including presentations to senior management, colleagues, business partners, insurance brokers and underwriters, parent company and its captive insurance company
• Keen analytic, organization and problem-solving skills
• Able to manage multiple priorities simultaneously and meet the time demands of unpredictable activities; capable of handling pressure and challenges in a dynamic business environment
• Demonstrated ability to contribute to a healthy safety and environmental culture
• Adoption and demonstration of PCC Values (Honorable, Unified, Passionate, Accountable)