The Risk Manager for Insurance & Claims at our general contracting firm plays a pivotal role in safeguarding the company's interests through effective risk management strategies. This position is responsible for overseeing insurance policies, mitigating potential risks, and managing claims efficiently to protect the company's assets and reputation.
Essential Functions:
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Insurance Policy Management:
- Evaluate, negotiate, and procure insurance policies suitable for the company's needs.
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Review existing insurance policies to ensure adequate coverage and compliance with legal requirements.
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Collaborate with insurance brokers and underwriters to assess policy options and negotiate favorable terms.
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Monitor insurance premiums and recommend cost-effective solutions to optimize coverage.
2. Risk Assessment and Mitigation:
- Identify and assess potential risks associated with construction projects, operations, and other business activities.
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Develop risk management strategies to minimize exposure and mitigate potential losses.
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Implement risk control measures, safety protocols, and best practices to enhance workplace safety and reduce accidents.
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Conduct regular risk assessments and audits to proactively address emerging risks and compliance issues.
3. Claims Management:
- Serve as the primary point of contact for insurance claims, including property damage, liability, and worker injuries.
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Investigate and evaluate insurance claims promptly, documenting all relevant information and evidence.
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Liaise with insurance adjusters, legal counsel, and relevant stakeholders to facilitate the claims resolution process.
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Negotiate settlements and coordinate payments in accordance with insurance policies and legal requirements.
4. Compliance and Legal Support:
- Stay abreast of regulatory changes, industry trends, and emerging risks affecting the construction and insurance sectors.
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Ensure compliance with applicable laws, regulations, and contractual requirements related to insurance and risk management.
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Provide guidance and support to internal teams on insurance-related matters, including contract review and risk allocation.
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Collaborate with legal counsel to address legal issues, disputes, and litigation arising from insurance claims or risk management activities.
5. Reporting and Analysis:
- Prepare comprehensive reports, metrics, and analyses related to insurance coverage, claims activity, and risk exposure.
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Present findings and recommendations to senior management and key stakeholders to support informed decision-making.
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Continuously evaluate the effectiveness of risk management strategies and insurance programs, making adjustments as necessary to optimize outcomes.
Qualifications:
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Bachelor's degree in Risk Management, Insurance, Business Administration, or a related field; advanced degree or professional certifications (e.g., ARM, CRM, CPCU) preferred.
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Proven experience in risk management, insurance, or claims management within the construction industry or a related field.
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In-depth knowledge of insurance principles, policies, and regulations, with the ability to interpret complex insurance contracts and legal documents.
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Strong analytical skills and attention to detail, with the ability to assess risks, analyze data, and develop practical solutions.
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Excellent communication, negotiation, and interpersonal skills, with the ability to collaborate effectively with internal teams, external partners, and stakeholders.
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Proficiency in relevant software applications (e.g., MS Office, risk management software) and familiarity with insurance claims management systems.
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Demonstrated leadership abilities, including the capacity to influence decision-making, drive change, and foster a culture of risk awareness and compliance.