Senior Insurance Manager

Position Overview:The Senior Insurance Manager is responsible for managing and overseeing the organization's insurance portfolio, ensuring appropriate coverage, compliance with regulations, and the development of risk management strategies. This role will involve working closely with internal teams, external brokers, and insurance carriers to develop, execute, and manage insurance programs that protect the company’s assets and mitigate potential liabilities. Key Responsibilities:Insurance Portfolio Management: Develop and manage comprehensive insurance policies and programs for the company, including property, liability, workers' compensation, and other coverage types. Assess current insurance coverage and recommend improvements, ensuring sufficient coverage and cost-effectiveness. Coordinate annual renewal process, reviewing terms and conditions with brokers and insurance providers. Risk Management & Assessment: Work with senior leadership to identify and assess organizational risks and recommend insurance solutions to mitigate potential liabilities. Conduct risk analysis and make recommendations on improving risk management strategies. Stay up-to-date on emerging risks, industry standards, and changes in insurance regulations. Claims Management: Oversee the claims process, including the reporting, investigation, and resolution of claims. Coordinate with insurance adjusters, brokers, and legal teams to ensure proper claim handling. Analyze claims data to identify trends and work on strategies to reduce claim occurrences. Team Leadership and Collaboration: Lead a team of insurance professionals, providing training and guidance to junior staff. Work cross-functionally with other departments such as finance, legal, and operations to align insurance programs with organizational goals. Collaborate with legal counsel and management on complex insurance-related issues. Budget and Financial Management: Develop and manage the department’s budget, ensuring cost-effective procurement of insurance services. Provide financial analysis of the organization’s insurance expenditures and potential savings opportunities. Regulatory Compliance: Ensure compliance with insurance-related laws, regulations, and policies. Stay current on industry standards and governmental regulations related to insurance, risk, and liability. Reporting and Documentation: Prepare and present detailed reports for senior management on insurance coverage, claims status, risks, and trends. Maintain accurate and up-to-date records of insurance policies, claims, and related documents.