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Legal Counsel

Zoek Pin North Cowton, North Yorkshire, England


Permanent (Full time)

Posted 22 days ago

As an international specialist insurer we are far removed from the world of mass insurance products, selectively focusing on key areas of expertise and strength, all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way.

Defined by our strong moral fibre we prioritise above all else the principle of doing what we say we will. Insuring the unique and interesting, our search for talent is the same. We empower our people to think creatively, challenge the status quo and approach things with a solutions focused lens. This results in us being able to provide the type of insurance solutions which are often too complex for other insurance companies; we find a way where others give up.

If you thrive in a challenging and collaborative environment where you are trusted to work instinctively and know the company will stretch you to your full potential look no further.

About Hiscox Re and ILS

Hiscox Re & ILS is the reinsurance and insurance-linked strategy (ILS) business unit within Hiscox Group. Our team of around 120 curious and collaborative individuals are committed to providing top quality service to brokers, clients, quota share partners and ILS investors through an innovative range of reinsurance products and third-party capital opportunities.

Hiscox Re & ILS is a very unique business unit, as we are actually two independent entities working closely together. Hiscox Re is our reinsurance business, where our expert underwriters work alongside brokers and clients to meet their unique business needs. Hiscox ILS is our alternative investment advisor, which manages capital for third-parties through insurance-linked strategies.

The opportunity:

Working as part of a small and collegiate team, you will partner with our underwriters and reinsurance purchase team to provide expert reinsurance contract wordings guidance and legal advice on transactional issues across multiple lines of business and business units within Hiscox Group. There is also opportunity to be involved in other business, legal and regulatory projects in a fast-paced and dynamic environment, which gives the role holder the variety and opportunity for continuous learning and development and to build external working relationships with Hiscox's clients, reinsurers and reinsurance brokers.

What you'll be responsible for:

  • Reviewing, drafting and negotiating inwards and outwards treaty reinsurance contracts relating to a broad range of territories and lines of business (including property, specialty, casualty, marine and aviation).
  • Legal advice and support for a variety of non-standard reinsurance solutions, including parametric and index-based solutions products, collateralised reinsurance and ILS transactions.
  • Reviewing, drafting and negotiating a wide range of commercial agreements relating to reinsurance transactions including commutation agreements, novation agreements, trust agreements, non-disclosure agreements, service level agreements, terms of business agreements, collateral agreements, segregated account investment agreements and data protection agreements.
  • Reviewing and drafting internal reinsurance arrangements.
  • Legal support for product analysis and development.
  • Legal support on contentions reinsurance issues.
  • Assisting during negotiations with brokers, clients and reinsurers.
  • Researching legal and contracts issues, industry changes, clauses, regulatory issues, market trends and potential coverage issues.
  • Providing guidance and training to underwriters and other members of the group on contract and legal matters.
  • Attending external market meetings, interact with market bodies and participate in market working parties, where necessary, in order to influence changes and ensure our position is not compromised.
  • Interacting with other departments within the group (including claims, compliance, operations and finance).
  • Recommending and implementing ways to improve work practices and technology and minimise legal risks.
  • Interrogating data and participating in internal audits.

The person:

  • UK/US or other common law jurisdiction qualified lawyer with 4+ years reinsurance experience, including some non-contentious transactional and wordings experience.
  • Knowledge of the reinsurance industry, customs and practices preferably gained in-house within a (re)insurance company or broking environment.
  • Excellent legal drafting skills.
  • High level of attention to detail.
  • Good interpersonal skills.
  • Enthusiasm and willingness to challenge and influence decision making.
  • Ability to negotiate, influence and effectively disseminate knowledge.
  • Self-motivated with the ability to work both on own initiative and as part of a team.
  • Flexible approach to work with the ability to plan and manage workload to adhere to deadlines during peak renewal periods.
  • Ability to manage multiple projects in a dynamic business environment.
  • Ability to simplify and explain the complex.
  • Able to master the detail whilst showing an awareness of the bigger picture.
  • Excellent organisation skills.
  • Execution oriented.

Diversity and flexible working at Hiscox

At Hiscox we care about our people. We hire the best people for the job and we're committed to diversity and creating a truly inclusive culture, which we believe drives success. We also understand that working life doesn't always have to be 'nine to five' and we support flexible working wherever we can. No promises, but please chat to our resourcing team about the flexibility we could offer for this role.

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