Coverholder Oversight Assistant

Introduction

Bell & Clements is a specialist insurance company offering expertise in underwriting, broking and capacity management provisions for Excess and Surplus (E&S) lines insurance solutions. The unique combination of broking and underwriting divisions provides the ability to quote and bind risks through inhouse binding authorities, while providing customers with access to Lloyd’s, US and international markets. Bell & Clements has been part of the Munich Re Group since 2007 and is a registered Lloyd’s broker.

There are over 150 staff based across the London headquarters and two U.S offices in Virginia and New Jersey with close collaboration throughout.

We are a responsible employer, a value-adding partner, and an innovative name in the insurance market. Building on a proven industry background over 35 years, we have developed and grown a unique and market-leading brand. As a wholly owned subsidiary of Munich Re, we have access to the expertise, products and risk appetite of one of the largest and most successful insurance groups in the world.

Our business is continuing to grow, and a key commitment is to not only expand our team through recruiting new roles but also through development opportunities to ensure we are always supporting our talented experts in their career journey. Our talent pool makes us who we are, and our inclusive culture means we are looking to continue to build our team with broad expertise, diverse backgrounds, and ambitious employees.

Being part of Bell & Clements provides access to multiple health and wellbeing benefits, work and life balance initiatives (including hybrid working), financial wellbeing packages as well as training, development and career opportunities.

Working as part of the Cover holder Oversight team, the purpose of this position is to provide support to the departments within B&C around delegated authority matters and to help manage Bell & Clements’ ("B&C") relationships with its Coverholders. To ensure compliance with B&C’s obligations as set out in its own Delegated Underwriting Authority Agreements and to help ensure all B&C coverholders follow annual compliance/attestation requirements and satisfy audit recommendations.

You will report into the Cover holder Oversight Manager.

• To support the preparation and delivery of regular reports to different B&C boards and committees to include reporting delays, audit reports and findings.
• Assist with the initial collection and collation of due diligence information for prospective new Coverholders.
• In the case of prospective Coverholders that B&C sub-delegate to review due diligence information obtained, identify shortfalls in information provided and communicate with the prospective Cover holder for full and satisfactory information to support the approval process.
• Completing Lloyd’s Atlas Cover holder applications.
• To help complete post-approval changes in Atlas, including new classes of business, Atlas relationships, key staff, ownership/name changes.
• Due diligence checks before a delegated authority renewal, ensuring the annual compliance is not past due, E&O/PI, financials and licences are current, and that there are no outstanding audit recommendations.
• Collaborate with Coverholders to maintain the necessary compliance information to ensure B&C remains compliant with its own obligations under its delegated authority agreements with insurers and multiple regulatory bodies.
• Help with the oversight of existing Coverholders to ensure they remain compliant with insurer requirements for approval, including assisting in the completion of annual compliance tasks and obtaining…