• Job Description

  Req#: 60951

  Pay Philosophy

  The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.

  Description

  Background

  Liberty Mutual’ s Global Risk Solutions strategic business unit has centralized its vast mergers & acquisitions (M&A) insurance solutions expertise into its Global Transaction Solutions group (GTS). GTS is one of the largest global M&A insurance teams in the industry. With more than 80 specialists, we have helped facilitate over 500 M&A deals a year on average—successfully insuring thousands of transactions since our inception. GTS offers specialized products and services to help facilitate M&A transactions for buyers and sellers, including Representations & Warranties (R&W), Tax Liability Insurance and Contingent Legal Risk Insurance.

  About Liberty Mutual Insurance Group

  Liberty Mutual is the 6th largest global insurer based on 2020 gross written premium, with over 45,000 employees in 29 countries and economies around the world. Our purpose is to help people embrace today and confidently pursue tomorrow. The promise we make to our customers throughout the world is to provide protection for the unexpected, delivered with care. We achieve this by offering a full range of personal, commercial, and specialty Property & Casualty insurance coverages. Our customers’ trust has earned us the 71st position on the Fortune 100 list of largest corporations in the U.S. based on 2020 revenue.

  You can learn more about the Liberty Mutual Group by visiting www.libertymutualinsurance.com.

  Role of Department

  GTS offers specialized products and services to help facilitate M&A transactions for buyers and sellers, including Representations & Warranties (R&W), Tax Liability Insurance and Contingent Legal Risk Insurance. You can learn more about Liberty GTS by visiting www.libertygts.com

  Key Purpose of Role

  Liberty GTS’ Contingent Legal Risk Insurance team is looking to further expand its U.S. presence. The Contingent Legal Risk Insurance product covers known risks that are capable of legal analysis. While CLRI insurance can be used in a wide range of circumstances, it is most commonly used to de-risk identified litigation matters.

  The CLRI underwriter role provides a rare opportunity to get in on the ground floor of a fast-growing business and undertake a meaningful role in expanding our CLRI book, including building relationships with clients, brokers and law firms. We are interested in commercial litigation attorneys interested in moving to the M&A insurance space where they can use their skill set to evaluate and underwrite litigation risks. The role primarily involves analyzing litigation materials (such as legal due diligence memoranda, appellate briefing, and case law) to assess the insurability of contingent legal risks and negotiating terms and conditions for insured risks.

  We are ideally looking for a qualified lawyer with 2-6 years of either commercial litigation or litigation funding experience. While not required, experience in patent litigation or intellectual property law is highly desired. Insurance experience is not required.

  KEY RESPONSIBILITIES:

  Strategy and Planning

  • Support the development of the annual business plan for the Underwriting division and ensure delivery of the plan in accordance with stated risk tolerances
  • Support the sub-regional managers in ensuring the team’s awareness of the business plan and its context so that they are able to take appropriate action and make informed decisions
  • Contribute and participate in all meetings in order to share and develop strategy, knowledge and best practice
  • Contribute new ideas and concepts to support the development and delivery of the business plan

  Delivery

  • Establish and strengthen relationships with brokers, advisors, industry bodies, business partners, reinsurers and colleagues, to maximize influence and achieve business objectives, including by speaking at conferences and other public events
  • Demonstrate understanding and awareness of market dynamics and market cycles to drive and enhance business performance
  • Continually develop expertise and technical knowledge through appropriate development initiatives
  • Underwrite contingent legal risks (focusing on known litigation risks) in accordance with the business plan and personal authority to meet business objectives, including:
  • Reviewing new submissions, including legal due diligence memoranda, appellate briefings, and other litigation materials in order to assess insurability of risks
  • Negotiating rates, terms and conditions for existing and new business

  • Compliance with the production and issue of documentation in accordance with contract certainty requirements

  • Contribute and influence in the review and analysis of the portfolio, to identify progress towards business objectives
  • Ensure entries are properly recorded onto relevant systems in a timely manner whilst ensuring accuracy of data with relation to both underwriting and aggregate exposures

  Policy, Process and Procedures

  • Compliance with all applicable internal and external laws, regulations, policies, procedures and guidance
  • Adhere to underwriting standards, instructions and best practice methodology in order to minimize risk
  • Apply any reinsurance requirements in accordance with stated risk tolerances and to deliver against business plan
  • Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviors as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to placing customers at the center of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviors at all These requirements include Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

  People Management

  • Support CLRI Senior Underwriter in managing resources across the team to ensure business requirements are achieved
  • Assist other CLRI underwriting staff in the management of the CLRI analysts

  Qualifications

  • Either currently underwriting in the CLRI market or a qualified lawyer with 5-10 years of either commercial litigation or litigation funding experience. While not required, experience in patent litigation or intellectual property law is highly desired. Insurance experience is not required.
  • Extensive knowledge of relevant market conditions for specific class/portfolio
  • Strong knowledge of legal and regulatory requirements
  • Strong knowledge of Liberty (including Group) underwriting systems, processes and procedures
  • Thorough understanding of class specific underwriting and reinsurance knowledge
  • Intermediate/ advanced level understanding of relevant software including Excel and other departmental software packages
  • Strong level of numeracy and literacy skills and a strong general commercial awareness
  • Strong interpersonal and communication skills
  • Strong analytical and negotiation skills
  • Strong organisational and prioritisation skills
  • Ability to analyse and use data for decision making and to think creatively
  • Strong attention to detail
  • People management – potential to engage and lead a team and ability to manage junior team members
  • Degree or equivalent qualification desired
  • Significant experience gained within the insurance industry
  • Use of risk profiling and pricing tools and loss models
  • Strong established customer/broker and advisor relationships

  About Us

  Liberty Mutual is the 6th largest global insurer based on 2020 gross written premium, with over 45,000 employees in 29 countries and economies around the world. Our purpose is to help people embrace today and confidently pursue tomorrow. The promise we make to our customers throughout the world is to provide protection for the unexpected, delivered with care. We achieve this by offering a full range of personal, commercial, and specialty Property & Casualty insurance coverages. Our customers’ trust has earned us the 71st position on the Fortune 100 list of largest corporations in the U.S. based on 2020 revenue.

  You can learn more about the Liberty Mutual Group by visiting www.libertymutualinsurance.com.

• About the company

  At Liberty Mutual, we want to help you embrace today and confidently pursue tomorrow. We’ve spent more than 100 years creating innovative insurance products, services, ideas and technologies to meet the world’s ever-changing needs—breaking away from old mindsets and thinking outside of traditional insurance roles. Why? Because we’re committed to transforming our industry in order to create peace of mind for our customers.

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