Professional Liability Insurance Associate

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The opportunity

We are looking for someone to join our Toronto-based insurance team as a professional indemnity insurance Associate. As part of the EY Global Insurance Team, the Associate’s  primary functions are to assist the Claims Director, Legal Counsel, and Claims Partner within EY’s insurance team with their reporting and claims management activities; to assist global litigation practice group (LPG) members with their claims management activities for EY member firms under various global insurance programs; and to assist in the policy creation, issuance, and operation of the various insurance programs.

Your key responsibilities

Claims Administration
 

• Routinely expected to gather and review detailed legal and factual information on professional liability claims against member firms; make recommendations to directors/partners on risk and exposure rating, required reserves, and reservation of rights and coverage issues; and to raise any additional questions which will assist in assessing claims.  These decisions affect which reinsurers are notified of the claims, the path claims will follow, and the content of reports to the committees and reinsurers.  This role requires excellent reading and writing skills, sound judgment, and the ability to understand and explain complex factual and legal material.
• Responsible for managing the claims reporting processes, including the creation of regular reports to the insurers’ claims committee and reinsurers using the insurance team’s claims management database system; for drafting narrative claims reports that are used to aid senior leadership in evaluating claims risk and costs, including narrative summaries of developments in all open claims files, summaries of settlements, judgments, or other decisions reached in cases during the reporting period; coverage issues raised and addressed by the team in a reporting period; and creating various statistical summary reports as requested by the LPG or insurance team leadership.   
• Responsible for the insurance notification process, including:  receiving all insurance notifications (through multiple email boxes) from member firms; entering all notifications into the claims management system (which requires interpretation of information received from individuals for whom English is not their first language and following up with questions where notifications are incomplete or unclear); reconciling notifications received; and carrying out the annual “sweep” process through which all member firms are contacted and requested to provide specific insurance notification confirmations, which the claims analyst processes, tracks, and follows up on.
• Responsible, on a bi-annual basis, for the creation and distribution of (at present) over 400 individualized narrative reports which summarize, at particular a point in time, the status of all reported claims.  The report is prepared for the use of the captive insurer’s Claims Committee and EY’s reinsurers. 
• Responsible for preparing separate reports to fronting insurers three times a year of all open claims matters.
• Responsible for the bi-annual independence process, which involves generating reports detailing the names of all parties that have commenced, and in some cases threatened, litigation against any global EY member firms; reviewing and revising the generated reports as necessary; providing the list to global independence and legal teams for inclusion in the conflicts checking process; and responding to inquiries from these teams concerning names included on the list.

Insurance Documentation

• The Associate is part of the team responsible for creating insurance policy documents that are issued to member firms worldwide and ensuring the proper implementation of coverage. 
• Drafts policy documents, identifies potential issues arising from the insurance renewal for Legal Counsel, and reviews policies issued by insurers, all in accordance with local legal requirements.
• Manages the translation process, which includes coordinating, ordering, reviewing translation of the insurance documentation into multiple languages, and updating limits/deductibles/premiums in the translated documents (with support from external translators as required).
• Tracks the issuance of policies, as well as the tracking of any problems identified in the issued policy wording and assists in the resolution of these issues.
• Provides support in managing requests for certificates of insurance, including reviewing requests from EY member firms, communicating with local insurers and/or insurance brokers, as well as filing and tracking the issuance of the certificates.

Database Operations/Administration

• The Associate is a primary source of data input into the team’s claims management database system, which captures facts and financial transactions relating to claims matters.  As such, they are required to have an excellent working knowledge of the system, to identify any processing or other issues with the system.
• Responsible for assisting other team members with database issues; creating insurance policy structures and records within the system; creating customized reports on claims and insurance policy data using system data.  Attention to detail and a thorough understanding of the insurance programs is critical to ensuring that the policy structures and records created in the system are correct, since those structures drive all policy creation, as well as financial and claims reporting.

Skills and attributes for success

The successful candidate for this role will be highly organized, have excellent attention to detail, be self-motivated, be able to manage competing demands and deadlines, and have a natural curiosity that will encourage innovation.

To qualify for the role, you must have 

• Law Clerk diploma or university degree
• At least 4 years of experience working with professional liability or commercial litigation
• Ability to understand complex situations and subjects sufficient to enable their swift management 
• Attention to detail and ability to produce high quality and succinct documents
• Excellent writing skills
• Deep technology skills, including the ability to fully leverage and utilize MS Office and SharePoint
• Experience assisting team members with technology challenges

Ideally, you’ll also have
 

• Excellent Excel skills
• Experience dealing with senior members of the business internally as well as managing relationships with external stakeholders

What we offer

At EY, we’ll develop you with future-focused skills and equip you with world-class experiences. We’ll empower you in a flexible environment, and fuel you and your extraordinary talents in a diverse and inclusive culture of globally connected teams. Learn more.

Are you ready to shape your future with confidence? Apply today.

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