Insurance Specialist

at  Yinson

Date Posted: 30 Jul 2024
Legal Entity: Yinson Production Offshore Pte Ltd
Job Function: Legal
Location: Singapore Office
Employment Type: Permanent
Yinson is a dynamic, equal opportunity employer with great organisational culture where people are valued and empowered to deliver powerful solutions.
The main duty of the candidate is to provide assistance and manage all insurance-related affairs within the Yinson Group of Companies, with emphasis on the renewables business unit. Additionally, he/she will support the company’s insurance department in various capacities.
The candidate will be responsible for supervising and ensuring that the Company’s assets are insured adequately and that the relevant liabilities and exposures are appropriately monitored and covered.
The candidate will play a facilitating and assisting role in insurance placements and renewal negotiations, insurance document and premium administration, contract reviews, claim handling, and other general insurance matters.

REQUIREMENTS:

• A Law degree or professional certification in insurance or an equivalent qualification
• The ideal candidate should have a minimum of three years of experience in insurance and risk management. They should possess the ability to work independently while also being an effective team player. Adaptability, proactiveness, excellent communication and interpersonal skills are essential qualities for this role.
• Candidates with experience in Captive insurance is preferred. Experience in O&G (Oil and Gas) and/or Energy insurance will have an advantage.
  If you want to team up with us as we dream and stride towards a better tomorrow – we would love to hear from you!

• The candidate will be responsible for identifying, exploring, and recommending suitable insurance options that align with industry practices for the business activities of the renewables sector worldwide.
• The candidate will be involved in negotiating insurance placements and renewals, reviewing insurance terms and limits to ensure that the Company obtains the most favorable insurance arrangements and that they are placed or renewed in a timely manner.
• The candidate will collaborate with the project’s legal counsel to review tender documents, due diligence insurance documents, contracts, and charter parties. They will actively participate in relevant meetings to address insurance risks and provide clarifications or solutions based on industry best practices.
• The candidate will provide support to stakeholders by obtaining the most favorable indicative premium for the insurances to be procured for potential projects. This will enable the project and financing team to accurately price the budget and financing model.
• The candidate will provide support in identifying gaps in contractual terms to minimize risk exposures. He/She will also ensure that contractual obligations related to insurance are fulfilled and any exceptions are appropriately highlighted.
• The candidate will be responsible for analyzing and interpreting insurance policies and coverage.
• The candidate will be responsible for ensuring that the relevant contracting party complies with all insurance requirements stated in the contract.
• The candidate will provide day-to-day support to stakeholders, clients, internal departments, subsidiaries, and associated companies regarding insurance matters. This support will encompass existing and new charters, projects, tenders, as well as other insurance-related concerns.
• The candidate will be responsible for verifying premiums to ensure the timely processing of payment. This will help avoid any delays in issuing certificates or potential policy cancellations.
• The candidate will be responsible for maintaining & monitoring the premium payment database to ensure insurance documentation and premium payments are kept up-to-date and well-organized.
• The candidate will be responsible for managing claims under various policies as necessary and ensuring that reimbursements are received in a timely manner.
• The candidate will assist the department head or manager with any insurance programs and special projects as assigned by them.
• The candidate will be providing a monthly report summarizing the tasks he/she has performed.
• The candidate will be prepared to undertake any ad-hoc duties that may be required.