Insurance Contracts Specialist (Paralegal), Private Equi...

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New York City, United States of America

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Legal

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2301V0

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Insurance Contracts Specialist (Paralegal), Private Equi...

Location Icon

New York City, United States of America

Bag Icon

Legal

Profile Icon

2301V0

Apply now
Working at Lockton

At Lockton, we’re passionate about helping our people achieve their ultimate potential. Our people are curious, action-oriented and always striving to make ourselves and those around us better. We’re active listeners working to ensure understanding and problem solvers developing innovative solutions. If you can see yourself delivering excellent service to clients, giving back to our communities and being a part of our caring culture, you belong here.

Business unit

Northeast Series

Salary

$110,000-$170,000

Schedule

Full-time

Job type

Standard

Workplace

Hybrid

Responsibility Icon

Your Responsibilities

Role Overview:

The Contracts Specialist will play a vital role by ensuring that contracts and agreements are well drafted and in compliance with the unique needs of clients within the real estate and hospitality sectors. The primary responsibility is to review and ensure insurance contract wordings align with the business and risk management philosophy of the respective client, while mitigating risks and ensuring tailored coverage by client.

The Contracts Specialist will be responsible for the following:

  • Review of the insurance, indemnity and casualty sections of  PERE client’s standard and customary contracts including but not limited to, Purchase Agreements, Loan Agreements, Joint Venture Agreements, Hotel Management Agreements, Property Management Agreements, Access Agreements, Tenant Agreements, Easements and Condo Documents.
  • Work with Clients and their legal teams to standardize insurance requirements, ensure they are market standard, and are reasonable given the exposure.
  • Assist in the effort to find a technology solution for document management and contract review systems for internal and external use.
  • Coordinate with lender consultants and lenders to maximize the flexibility and efficiency of insurance requirements within loan agreements.
  • Train colleagues on contract review and ensuring certificates of insurance comply with the contract requirements
  • Coordinate with Lockton’s Certificate team to ensure consistent delivery of certificates to clients and third-party stakeholders.
  • Work with the colleagues and team members to build out offerings, capabilities, and marketing efforts, including RFPs.
  • Maintain and keep track of market standards and claim precedents that could impact current and future contracts.
  • Act as an advisor to clients on insurance contractual requirements and insurance purchasing decisions.
  • Ensure the team is adequately resourced to meet the business needs.
  • Responsible for actively and continually upskilling the technical expertise of the team by such means as performance assessment and management, training and succession planning.
  • Keep abreast of Contracts related changes within the market, disseminate this information to the team and adapt procedures accordingly.
  • Proactively monitor and research industry related and legal, regulatory and market developments.  Interact with clients, and network with markets, industry and legal professionals to keep abreast of contractual matters.
  • As requested, review and advise the claims department on claims collections with contract wordings issues. Liaise with clients and brokers to assist with the resolution of contractual disputes in order to avoid any possible arbitration or litigation.
  • Assist in the development, rollout and training of standard sets of wordings for various types of contracts.
Qualification Icon

Qualifications

  • Minimum of 5-10 years of related experience in insurance and/or real estate experience
  • Strong knowledge of and ability to appropriately apply contract provisions, insurance concepts and principles and familiarity with basic regulations of the subject region.
  • Paralegal Certification required
  • Able to engage and lead discussions with Clients, Markets and Colleagues in a professional and effective manner.
  • Excellent and effective verbal and writing skills.
  • Demonstrated ability to lead and work as part of a high-performance team.
  • Positive attitude, willingness to offer and help execute ideas and solutions to enhance processes within a changing environment.
  • Enabling the success of others and offering guidance appropriate to the development level of each Colleague.
  • Successful management of workload; able to manage expectations of all stakeholders.
  • Able to challenge appropriately, supporting business cases with facts and information.
  • Understanding of project management methodology, stakeholder management, and risk mitigation.
  • Ability to work cooperatively with others
  • Resourceful and proactive
  • Ability to be discreet and maintain confidentiality on a wide range of issues.
  • Strong organizational skills and the ability to pay attention to detail and multi-task under tight timeframes.

Knowledge/Skills/Abilities:

  • Enthusiastic and proactive attitude
  • Quick to grasp new concepts and retain information
  • Excellent organization skills and able to effectively prioritize – delivering high quality work to deadlines
  • General commercial contracts drafting and negotiation knowledge required
  • Some Insurance Law knowledge an advantage
  • Some Privacy Law and Privacy Contracts knowledge an advantage 
  • Instinctive commercial awareness
  • Excellent interpersonal and influencing skills – understanding of senior management interactions
  • Proven technical ability
  • The ability to identify and resolve legal risks
  • Ability to work both independently and as a member of a team
  • Flexibility and willingness to be involved in all areas of law.
  • Construction/development contract experience preferred however not required.

Benefits:

Lockton is committed to advancing diversity and inclusion. We have a dynamic entrepreneurial culture in which our people are empowered to make a difference to better serve client needs. We are committed to giving back to our communities and we are invested in your success. 

We offer a competitive total rewards package, continuing education & training, and tremendous potential with a growing organization

 

The salary of the finalist selected for this role will be set based on a variety of factors, including but not limited to departmental budgets, qualifications, experience, education, licenses, specialty, and training. The hiring range represents the company’s good faith and reasonable estimate of the range of possible compensation at the time of posting.

Equal Opportunity Statement

Lockton Companies is proud to provide everyone an equal opportunity to grow and advance. We are committed to an inclusive culture and environment where our people, clients and communities are treated with respect and dignity.

At Lockton, supporting diversity, equity and inclusion is ingrained in our values, and we believe that we are at our best when we fully embrace everyone. We strive to cultivate a caring culture that learns from, celebrates and thrives because of our breadth of differences. As such, we recognize that recruiting, developing and retaining people with diverse backgrounds and experiences is vital and enabling our people to thrive personally and professionally is critical to our long-term success.

About Lockton

Lockton is the largest privately held independent insurance brokerage in the world. Since 1966, our independence has allowed us to serve our clients, take care of our people and give back to our communities. As such, our 10,000+ Associates doing business in over 100 countries are empowered to do what’s right every day.

At Lockton, we believe in the power of all people. You belong at Lockton.

How We Will Support You

At Lockton, we empower you to be true to yourself in all that you do. Your success is our success, and we provide opportunities to help you grow and create a rewarding career path, however you envision it.

We are ready to meet you where you are today, and as your needs change over time. In addition to industry-leading health insurance, we offer additional options to support your overall health and wellbeing.

Learn more about your Lockton experience

No Agencies Please

Any Employment Agency, person or entity that submits an unsolicited resume to this site does so with the understanding that the applicant's resume will become the property of Lockton Companies, Inc. Lockton Companies will have the right to hire that applicant at its discretion and without any fee owed to the submitting Employment Agency, person or entity. Employment Agencies, who have fee Agreements with Lockton Companies must submit applicants to the designated Lockton Companies Employment Coordinator to be eligible for placement fees.

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