Senior Wordings and Contracts Specialist – Portfolio Solutions and Structured Solutions in London

Build a brilliant future with Hiscox.

As an international specialist (re)insurer, we are far removed from the world of mass insurance products and instead selectively focus on key areas of expertise and strength, which is underpinned by a culture that encourages us to challenge convention and always look for a better way. We prioritise the principle of doing what we say we will, as we are defined by our strong moral fibre. 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 challenges with flair and creativity. This results in us being able to provide the type of insurance solutions which are often too complex for other insurance companies, as we find a way when 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, then look no further.

Business Area: Hiscox is a diversified international insurance group. As part of the group, Hiscox London Market (HLM) predominantly insures unusual and larger global risks. HLM operates in the following lines of business:

• Casualty (directors & officers’ liability, general liability, cyber risks)
• Marine, Energy and Specialty (marine hull and cargo, marine & energy liability, renewables and upstream oil and gas)
• Property (commercial/household, major property, flood)
• Crisis Management (personal accident, terrorism, political violence, K&R)
• Portfolio Solutions (Managing General Agents, Structured Solutions)

The Role: We wish to add a senior wordings and contracts specialist to our team, reporting to the Head of Wordings. The role will support the Portfolio Solutions division – that is to lead the proposition for Structured Solutions, and provide support across the remainder of the division and lines where required.

What you’ll be doing in the role:

• Draft, review and negotiate structured (re)insurance policy documentation, ensuring clarity, accuracy and alignment with commercial intent.
• Draft, review and negotiate ancillary documents including NDAs, parental guarantees and letters of credit.
• Ensure documentation meets Lloyd’s requirements and reflects best practice across the market, working closely with other lines of business.
• Partner with underwriters to ensure (re)insurance contracts fully and accurately capture agreed commercial terms.
• Provide clear guidance on regulatory, compliance and contractual considerations relevant to the transaction being executed.
• Proactively identify potential wording or contractual challenges and implement workable solutions.
• Support innovation by developing template wordings tailored to structured (re)insurance solutions.
• Contribute to training and knowledge-sharing within the underwriting team on key contractual and regulatory considerations.
• Work with underwriters to guide responses on matters of coverage and regulation during the risk placement process.
• Maintain and develop internal wordings resources and repositories.
• Promote technical knowledge through the learning and development of underwriters on contractual matters.
• Ensure implementation of underwriting standards and controls when issuing contracts.
• Represent Hiscox at market level to provide solutions to emerging risks and legal developments.
• Embrace a truly international book of business, working closely with colleagues in Europe and the USA.

The person:

Our must haves:

• Knowledge and experience of (re)insurance contracts or structured (re)insurance contracts, preferably gained in-house within a (re)insurance company or broking environment.
• A strong understanding of regulatory and contractual considerations in multi-jurisdictional insurance transactions, with deep knowledge of US surplus lines and other non-admitted business.
• A “commercial” mindset blending legal and regulatory requirements into business scenarios.
• Excellent written and verbal communication skills, able to explain technical points clearly to underwriters, brokers and clients.
• Confidence to make decisions on coverage and advocate the logic involved to build consensus.
• Ability to work well both individually and in teams, including with brokers and clients directly.
• A minimum of five years’ wordings, underwriting support or technical underwriting experience gained in the Lloyd’s Market.

Nice to have:

• Law degree or legal experience involving reviewing and preparing legal contracts.
• Admitted as a Solicitor or Barrister in England and Wales; familiarity with New York law is advantageous.
• A degree in a suitable subject or insurance qualifications.

Diversity and Hybrid working: At Hiscox, we care about our people. We hire the best people for the job and are committed to diversity and creating a truly inclusive culture, which we believe drives success. We have also learned that working life doesn’t always have to be in the office, and we have introduced hybrid working to encourage a healthy work-life balance. This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance.

Apply now for further information.