Underwriting Counsel

This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.

Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we’re bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.

The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.

Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world-class service — both pre- and post-claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.

Job Summary

The Underwriting Counsel position is an attorney role that works with legal and underwriting leaders to draft all policy wordings and related documents for all lines of business written by Ascot in the United States, which includes, among others, Professional Liability, General Liability, Management Liability, Crime Cyber, Environmental, Inland Marine, Property, Ocean Marine, and Trade Credit. As the Underwriting Counsel, you will serve as the legal subject matter expert for Ascot insurance products, including monitoring evolving insurance coverage caselaw, developing policy wording, and counseling the Business on underwriting intent, coverage, and product compliance matters. This role will also assist in the maintenance, filing, and implementation of all Surplus lines and Admitted products. This is an exciting opportunity for a go-getter who can be successful in a fast-paced environment, is able to balance multiple daily priorities, and is excited to be exposed to all aspects of commercial specialty insurance. You’ll be a part of a highly collaborative Legal and Compliance team where your contribution is crucial to the ambitious goals of this fast-growing US Business Unit.  This position reports to the Senior Underwriting Counsel.

Job Responsibilities

• Work both independently and with colleagues to collaborate with underwriters and draft clear and accurate new and amended insurance policy wordings, forms, endorsements, applications, and related documents
• Opportunity to oversee and manage legal aspects of the product filing process, including responding to state Department of Insurance objections and drafting state-specific endorsements and wordings
• Review alternative distribution and Program opportunities from a products standpoint and advise on necessary changes to or creation of policy documents in line with Ascot’s underwriting appetite
• Advise underwriters with risk analysis by offering coverage and wordings analysis and other legal related advice
• Stay up-to-date on current and emerging underwriting risk and coverage trends
• Work with stakeholders to embrace "Plain English" wordings that are easy for customers and brokers to understand, without detracting from their legal precedence, meaning or significance
• Work closely with the Actuarial, Operations, Reinsurance, Underwriting, and Claims departments to implement new products in Ascot’s IT system, including the drafting and review of business and technical requirements for policy form implementation and behavior

Experience and Skills Required:

• Juris Doctor from an ABA-accredited law school and Bar admission in good standing
• Minimum of 7 years of relevant insurance coverage, wordings, and/or claims experience, including direct interaction with clients and/or internal stakeholders
• Background in US commercial casualty and specialty insurance markets 
• Excellent communication (both written and verbal), organizational and time-management skills. 
• Proven skills managing/participating in cross-departmental efforts, and the knowledge to collaboratively work until a matter is resolved, as opposed to waiting for others to advance an effort
• A self-starter, who is comfortable working independently and “rolling up their sleeves” or in leading or playing a part on collaborative teams
• Ability to quickly adapt and learn new areas that might fall outside his/her scope of experience.
• The successful candidate will have an ability to act independently, to think matters through fully and drive them as close to completion as possible seeking guidance as appropriate
• Strong desire to learn and gain exposure to other legal and business areas

***This position may be filled at a different level, depending on experience***

Compensation

Actual base pay could vary and may be above or below the listed range based on factors including but not limited to experience, subject matter expertise, and skills. The base pay is just one component of Ascot’s total compensation package for employees. Other rewards may include annual cash bonus, and other forms of discretionary compensation awarded by the Company. 

• The annualized base pay range for this role is: In the New York Metro Area is: $170,000 - $190,000.

Company Benefits

The Company provides a competitive benefits package that includes the following (eligibility requirements apply):

Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Life Insurance, AD&D, Work/Life Resources (including Employee Assistance Program), and more

Leave Benefits: Paid holidays, annual Paid Time Off (includes paid state /local paid leave where required), Short-term Disability, Long-term Disability, Other leaves (e.g., Bereavement, FMLA, Adoption, Maternity, Military, Primary & Non-Primary Caregiver)

Retirement Benefits: Contributory Savings Plan (401k)

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