Underwriting Counsel

Job Description

About Ascot Group:

Ascot Group is a global specialty risk underwriting organization. They aim to be a modern company operating through interconnected global platforms. Their focus is on collaboration, inclusivity, and an entrepreneurial culture built on underwriting excellence and integrity. Their approach, “The Ascot Way,” prioritizes client needs, risk management, and technology. They deploy capital creatively across various platforms, working as one unit to deliver bespoke products and service.

Job Description: Underwriting Counsel

This Underwriting Counsel position is a legal role focusing on the creation and maintenance of policy wordings and related documents for all US lines of business at Ascot.

Job Summary:

The Underwriting Counsel will serve as the legal subject matter expert for Ascot’s insurance products in the U.S. This includes:

• Drafting all policy wordings and related documents for various lines of business (Professional Liability, General Liability, Management Liability, Crime Cyber, Environmental, Inland Marine, Property, Ocean Marine, and Trade Credit, among others).
• Monitoring evolving insurance coverage caselaw.
• Developing policy wording.
• Counseling the Business on underwriting intent, coverage, and product compliance matters.
• Assisting in the maintenance, filing, and implementation of all Surplus lines and Admitted products.

This role requires someone who can work in a fast-paced environment, manage multiple priorities, and is interested in all aspects of commercial specialty insurance. The Underwriting Counsel will be part of a collaborative Legal and Compliance team and report to the Senior Underwriting Counsel.

Job Responsibilities:

• Collaborate with underwriters to draft clear and accurate new and amended insurance policy wordings, forms, endorsements, applications, and related documents, both independently and with colleagues.
• Oversee and manage legal aspects of the product filing process, including responding to state Department of Insurance objections and drafting state-specific endorsements and wordings.
• Review alternative distribution and Program opportunities from a products standpoint and advise on necessary changes to or creation of policy documents in line with Ascot’s underwriting appetite.
• Advise underwriters with risk analysis by offering coverage and wordings analysis and other legal related advice
• Stay up-to-date on current and emerging underwriting risk and coverage trends.
• Work with stakeholders to embrace “Plain English” wordings that are easy for customers and brokers to understand, without detracting from their legal precedence, meaning or significance.
• Work closely with the Actuarial, Operations, Reinsurance, Underwriting, and Claims departments to implement new products in Ascot’s IT system, including the drafting and review of business and technical requirements for policy form implementation and behavior.

Experience And Skills Required:

• Juris Doctor from an ABA-accredited law school and Bar admission in good standing.
• Minimum of 7 years of relevant insurance coverage, wordings, and/or claims experience, including direct interaction with clients and/or internal stakeholders.
• Background in US commercial casualty and specialty insurance markets
• Excellent communication (both written and verbal), organizational and time-management skills.
• Proven skills managing/participating in cross-departmental efforts, and the knowledge to collaboratively work until a matter is resolved, as opposed to waiting for others to advance an effort
• A self-starter, who is comfortable working independently and “rolling up their sleeves” or in leading or playing a part on collaborative teams
• Ability to quickly adapt and learn new areas that might fall outside his/her scope of experience.
• The successful candidate will have an ability to act independently, to think matters through fully and drive them as close to completion as possible seeking guidance as appropriate
• Strong desire to learn and gain exposure to other legal and business areas
• This position may be filled at a different level, depending on experience.