Senior Legal Counsel (Credit Risk & Political Risk)

Senior Legal Counsel (Credit Risk & Political Risk)

Insurance Broker

£130K

London - Hybrid working

Key Responsibilities:

• Policy management advisory function: supporting the broking team and Head of Claims following the occurrence of circumstances that may give rise to a claim. E.g. advising on the Insured's obligations, monitoring loss minimisation developments (including lengthy transaction restructuring negotiations, for example) in order to keep insurers updated, managing relevant time limits.
• Claims advisory role: working alongside Head of Claims with the presentation of claims and loss adjustment process. Drafting Release and Settlement Agreements. Engagement with clients and insurers regarding recoveries.
• Insurance policy wording specialist: drafting / revising insurance policy wordings to meet our clients' specific requirements either for a given underlying transaction or as an overarching template. Considering legal issues and insurance practice. Working alongside brokers to support them in discussions with clients and Underwriters.
• Provision of in-house training: on insurance law matters, wordings, dispute resolution. This takes the form of longer thematic training and more regular short-form informal sessions to share knowledge gained through recent wordings / claims work. Preparing internal briefing notes on key topics. Additionally (less frequently) providing training to clients on insurance law matters and their policy wordings.
• In-house legal function: advising on a range of contracts to which the company is a party, including client and Insurer NDAs, Terms of Business Agreements as well as non-insurance related commercial contracts.
• Participating in regular peer reviews of insurance policies placed and contributing to the continuous improvement of legal processes and best practices within the group.

Skills/Qualifications:

• Relevant professional qualifications - England and Wales qualified solicitor.
• Minimum 4 years of relevant legal experience in insurance or finance..
• Knowledge of the workings of banks and their distribution of loans into the insurance markets for capital relief purposes is a plus.