10 yrs required
New York City, NY, United States
Sep 21, 2020
Jan 04, 2021
Duties: Draft, review and analyze a wide array of market-produced reinsurance contracts (assumed, ceded and retroceded) against corporate standards, agreed upon terms as well as provide suggested alternatives. Contracts span various lines (i.e., property, casualty, specialty, professional and A&H) and structures (excess of loss, quota share, aggregate, per risk, per occurrence, per policy, clash and stop loss). Keep current on reinsurance contract/policy wording developments and communicate importance and impact of wording changes to Underwriters and Marketers. Collaborate and liaison with the Product Center, Underwriters, Claims and other Legal personnel in order to identify wording solutions that are best for a particular business line or jurisdiction. Effectively communicate legal, regulatory and business issues to management with respect to AXIS’ external and internal domestic and international reinsurance business including advice and services with respect to contracts, legal structure, (re)insurance laws and regulations. Review other Reinsurance Segment legal documents such as NDAs, trusts and collateral agreements. Coordinate with other internal AXIS Legal Group on company-wide matters, policies and practices. Work with other AXIS Legal Group with regards to intercompany transactions and cross-segment issues. Attend and participate in reinsurance trade associations such as RAA. Advising and researching international legal entity qualifications and licensing requirements for writing reinsurance business. Researching and providing legal and regulatory advice with respect to issues arising from credit for reinsurance, changing collateral requirements, trusts, letters of credit and other security agreements. Draft documents related to sidecars, collateralized reinsurance, quota shares, retrocessions and new ventures with alternative capital providers such as hedge funds and private equity firms. Reviewing and drafting of reinsurance contract wordings to facilitate compliance with local laws and regulations as well as intent of the parties. Review and drafting of reinsurance intermediary agreements and other reinsurance related agreements. Work with third parties with respect to regulatory, compliance, operations and contract issues in arrangements whereby AXIS is engaged with a third party and its primary business. Works with internal teams in support of various reinsurance and risk funding-driven transactions. Advising on industry and product related reinsurance regulatory issues that impact AXIS’ reinsurance business and communicate relevant developments to management. Researching issues arising with respect to reinsurance claims on an as needed basis. Provide legal support to the various operational areas of the Reinsurance Segment.