Insurance Specialist

Job Purpose

To manage and coordinate insurance requirements across projects and business operations, ensuring appropriate coverage, regulatory and contractual compliance, effective claims management, and mitigation of insurance-related risks throughout the project lifecycle.

Key Responsibilities

- Manage and coordinate insurance requirements for assigned projects and business activities.
- Review project contracts and agreements to identify insurance obligations, coverage requirements, limits, and associated risks.
- Coordinate the placement, renewal, amendment, and administration of insurance policies in accordance with project and organizational requirements.
- Manage project-related insurance policies including Contractors’ All Risks (CAR), Professional Indemnity, Third-Party Liability, Property, and other applicable coverage.
- Review insurance certificates and policies submitted by contractors, consultants, suppliers, and service providers to ensure compliance with contractual requirements.
- Maintain comprehensive insurance registers, including policy details, coverage limits, premiums, renewal dates, claims, and outstanding actions.
- Monitor policy expiry and renewal dates to ensure continuity of required insurance coverage.
- Coordinate with insurance brokers, insurers, loss adjusters, consultants, contractors, and internal stakeholders on insurance-related matters.
- Support the evaluation and selection of appropriate insurance coverage based on project and organizational risk exposure.
- Manage insurance claims from initial notification through assessment, documentation, negotiation, settlement, and close-out.
- Compile and review supporting documentation required for insurance claims and liaise with relevant parties throughout the claims process.
- Monitor the status of outstanding claims and provide regular updates to management.
- Review proposed contractual changes, project activities, and emerging risks to identify potential impacts on existing insurance coverage.
- Coordinate with Risk, Contracts, Commercial, Finance, Legal, HSE, and Project teams to ensure insurance requirements are effectively managed.
- Identify insurance gaps, exclusions, potential exposures, and areas of non-compliance and recommend appropriate corrective measures.
- Support insurance-related audits and ensure required records and supporting documentation are maintained.
- Prepare insurance reports, claims summaries, risk assessments, and management updates as required.
- Maintain awareness of insurance market developments, regulatory changes, and emerging risks relevant to the organization and its projects.

Qualifications & Experience

- Bachelor’s degree in Insurance, Risk Management, Finance, Business Administration, Law, or a related discipline.
- Professional insurance qualification such as CII, ACII, or equivalent would be an advantage.
- Minimum 5–8 years of relevant insurance experience , preferably within construction, real estate development, infrastructure, or major project environments.
- Strong experience managing corporate and project insurance policies, claims, renewals, and insurance compliance.
- Good understanding of construction-related insurance products, including Contractors’ All Risks, Professional Indemnity, and Third-Party Liability.
- Experience reviewing contractual insurance requirements and contractor/consultant insurance documentation.
- Experience liaising with insurers, brokers, loss adjusters, contractors, consultants, and internal stakeholders.

Key Competencies

Insurance Management • Project Insurance • Claims Management • Risk Assessment • Policy Administration • Contractual Compliance • Insurance Analysis • Negotiation • Stakeholder Management • Documentation & Reporting • Analytical Thinking • Attention to Detail