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Company Overview
The Scorpio Group of companies (Scorpio) is a global leader in the maritime industry and has been investing in and operating shipping assets for over 50 years. Specializing in the transportation of seaborne commodities and petroleum products, Scorpio offers comprehensive technical management services as well as commercially managing one of the worlds largest fleets. Headquartered in Monaco, today Scorpio employs over 900 onshore professionals across Europe, North America, the Middle East and Asia, ensuring excellence in maritime operations worldwide.
Job Summary
The Insurance Officer in the shipping industry is responsible for managing the companys insurance portfolio, assessing and mitigating risks related to maritime operations, and ensuring that the organization is adequately protected against potential liabilities. This includes handling insurance claims, liaising with underwriters and brokers, and ensuring compliance with international maritime laws and regulations. The role demands a thorough understanding of both the insurance and shipping industries.
Job Responsibilities
- Insurance Management:
- Administer the companys marine insurance policies, including hull & machinery, protection & indemnity (P&I), cargo, and other relevant insurances.
- Review and negotiate terms with insurance brokers and underwriters to ensure adequate coverage for vessels, cargo, and other assets.
- Ensure all shipping operations are compliant with local and international insurance regulations, including SOLAS, MARPOL, and ISM Code.
- Risk Assessment and Mitigation:
- Conduct risk assessments for vessels, ports, and shipping routes to identify potential hazards and liabilities.
- Proactively recommend insurance policy changes or additions to mitigate identified risks.
- Monitor market trends and developments in maritime insurance to ensure up-to-date coverage.
- Claims Management:
- Manage and process marine insurance claims, including hull damage, cargo losses, or liability claims.
- Act as the main point of contact for underwriters, brokers, and claim adjusters during the claim process.
- Ensure timely submission of necessary documents and evidence to support claims.
- Compliance and Documentation:
- Ensure all insurance documentation is up-to-date, including certificates of insurance, coverage summaries, and policy documents.
- Maintain detailed records of insurance policies, premiums, and claims.
- Ensure compliance with international shipping conventions and national maritime laws concerning insurance.
- Coordination and Communication:
- Liaise with operational teams, legal departments, and other relevant departments to ensure seamless handling of insurance-related matters.
- Provide insurance advice and guidance to the management team and other departments.
- Coordinate with external legal counsel on disputes or issues related to insurance claims or coverage disputes.
- Cost Control and Budgeting:
- Monitor and control insurance costs, including premiums, claims, and deductibles.
- Assist in budgeting and forecasting for insurance-related expenses.
- Review and analyze the financial performance of insurance portfolios.
Experience
- Minimum of 6-8 years of experience in marine insurance or a similar role within the shipping industry.
- Familiarity with shipping industry regulations, maritime law, and shipping operations are required.
COMPETENCIES
- Strong knowledge of maritime regulations and marine insurance products, including hull, P&I, and cargo insurance.
- Excellent analytical skills with the ability to assess and mitigate risks.
- Good communication skills and ability to negotiate favorable insurance terms with brokers and underwriters.
- Proficiency in insurance software and claims management systems.
- Attention to detail and ability to handle multiple projects in a fast-paced environment.
- Strong problem-solving skills and the ability to work independently.
Qualifications
- Bachelors degree in Insurance, Risk Management, Maritime Studies, or related field.
- Professional qualifications in insurance (e.g., ACII, CPCU) are an advantage.
At Scorpio, our people are our strength, and their diverse talents are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion. We do not discriminate based on any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law.
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