Contract Wordings Manager

Position Title: Contract Wordings Manager

Location: London

Job Type: Full-time

About the Role:

We are currently seeking an experienced and detail-oriented Contract Wordings Manager to join a prominent Lloyd’s Syndicate. This role will be responsible for overseeing the negotiation, agreement, and management of direct policy wordings and reinsurance contracts, across various classes of business including Property, Delegated Property, Specie, Contingency, PV, Construction, Marine Cargo, and CPRI. You will work closely with underwriting teams, clients, and agents to ensure the integrity and consistency of all wordings and clauses. This role reports directly to the Head of Claims.

Key Responsibilities:

• Negotiate and agree on direct policy wordings and reinsurance contract clauses across all actively written classes.

• Liaise regularly with Underwriters, Clients, and Brokers to ensure alignment on wordings and terms.

• Maintain accurate and up-to-date records of negotiations and final agreed wordings in Agency IT systems.

• Promote an active risk management process and provide commentary on the effectiveness of wordings.

• Ensure compliance with Contract Certainty Check Records and procedures using the LCC system.

• Monitor current standard market forms and territorial regulations.

• Conduct peer reviews of wordings agreements by other team members.

• Assess the financial impact of unsuitable contract wordings and report to the Claims Quarterly Meeting.

• Provide ad-hoc training to the underwriting and claims teams.

• Attend relevant LMA Wordings Committees as needed.

• Supervise and train the Contract Wordings Technician, ensuring their work aligns with team goals.

Key Skills and Experience Required:

• Extensive experience with direct and reinsurance contract wordings, clauses, and endorsements, particularly in Property, Specie, Contingency, PV, Marine Cargo, and CPRI accounts.

• In-depth knowledge of Lloyd’s current and historical wordings agreement procedures and associated systems.

• Strong understanding of market conditions and current industry issues, and how they impact wordings.

• Expertise in risk management processes and an ability to assess financial impacts related to wordings.

• Proficiency in Lloyd’s systems, including LCC Tool, LMWD, Lloyd’s QAT, and Lloyd’s Crystal, along with Microsoft Word, Excel, and Outlook.

• Ability to effectively communicate and negotiate with internal and external stakeholders.

• Strong organizational skills with the ability to manage multiple priorities and meet deadlines.

Knowledge and Qualifications:

• Thorough knowledge of industry-standard wordings, clauses, and endorsements (e.g., ISO and Lloyd’s forms).

• Comprehensive understanding of regulatory frameworks, including FCA rules and Lloyd’s regulatory requirements.

• Willingness to continue professional development and expand technical knowledge.

• Knowledge of company and employment policies, as well as risk management and compliance procedures.

Additional Skills:

• Excellent planning, communication, interpersonal, and decision-making skills.

• Strong problem-solving abilities and attention to detail.

• Ability to manage data and maintain accurate records in line with business standards.

What's on Offer:

• Competitive salary and benefits package.

• Opportunity to work in a dynamic and collaborative environment.

• Professional development and training opportunities.

• Exposure to a wide variety of insurance classes and contract negotiations.

If you are a skilled Wordings Manager with a passion for driving excellence in the Lloyd's market, we would love to hear from you!