Vice President, Insurance

Vice President, Insurance

You will be responsible for overall strategy, direction, and management of the Company’s insurance program and captive insurance company which insure operating entities with annual insurance premiums of over $50M and approximately 5,000 employees.

Responsibilities:

• Directing the structuring, negotiation, and management of AL, GL, and WC insurance policies, while having a high level of technical expertise in trucking risks
• Recommendations and application of appropriate retentions by line of coverage, what lines of coverages to include, and what limits of coverages to establish
• Developing, implementing, and monitoring processes to identify operational and contractual risk, as well as emerging exposures, and provide insurance-based and alternative risk solutions to the insureds business units to mitigate these risks (including possible off-shore domicile captive cells for innovative coverage solutions)
• Acting as primary relationship manager with internal customers, state regulators, and third-party service providers, including brokers, insurers, and TPAs
• Procurement of vendor services of the companies including developing requests for proposals
• Ensure appropriate utilization of captive cash reserves to collateralize fronting of claims by third-party carriers and development of collateral methods (like LOC’s and/or trust funds)
• Establish and structuring of new cells within the captive company
• Implement underwriting guidelines for any related or unrelated business’s participation in the cell captive
• Understanding new insurance products, market conditions, and financial strength of insurers
• Manage and composition of company adjustor licensing to reduce reliance on TPAs
• Coordinate quarterly claim reviews with TPA’s and/or company adjustors
• Ensuring that the cost of risk identified is budgeted and forecasted in compliance with financial reporting policies
• Preparing loss analyses and budgets, identifying exposures, recommending solutions, implementing approved programs, and working with the company’s operations and safety teams to promote loss prevention
• Overseeing management of and expansion opportunities for captive

Qualifications:

• Bachelor’s degree in finance or business or equivalent experience
• 10 or more years in insurance required with experience in transportation insurance preferred
• Proficient in Microsoft Office products, including Excel, Outlook and Word.

Work Location:

• One location

Benefits:

• Health insurance
• Dental insurance
• Vision insurance
• Retirement plan
• Paid time off