Insurance Executive

Job Description Roles & Responsibilities The Insurance Specialist will be responsible for managing all insurance-related activities for the company's EPC (Engineering, Procurement & Construction) projects. This includes assessing project risks, ensuring appropriate insurance coverage, handling claims, and liaising with insurers and project stakeholders. Key Responsibilities: 1. Insurance Procurement & Policy Management: Identify and assess insurance needs for various EPC projects, including Contractor’s All Risk (CAR), Third-Party Liability, Professional Indemnity, Workmen’s Compensation, Marine Cargo, and Equipment Insurance. Evaluate and procure project-specific and corporate insurance policies in line with contract requirements. Ensure policy renewals and endorsements are completed on time. 2. Risk Assessment & Compliance: Work with project teams to identify potential risks and suggest appropriate insurance solutions. Ensure compliance with local and international insurance regulations, contract requirements, and company policies. Coordinate with legal and finance teams to review contract terms related to insurance obligations. 3. Claims Management & Coordination: Manage the end-to-end claims process, from reporting losses to negotiating settlements with insurers. Coordinate with site teams, insurers, and loss adjusters for timely claims processing. Maintain detailed records of claims history and insurance costs. 4. Coordination with Stakeholders: Act as the key liaison between the company, insurers, brokers, subcontractors, and project clients. Work with finance teams to budget and forecast insurance expenses for projects. Provide insurance-related inputs for tender submissions and contractual negotiations. 5. Documentation & Reporting: Maintain a comprehensive database of insurance policies, claims, and project risk reports. Provide periodic reports on insurance costs, risk exposure, and claims status to management. Conduct insurance awareness training for project and site teams. Desired Candidate Profile Education: Bachelor's degree in Finance, Risk Management, Business Administration, or a related field. Professional certifications (e.g., CII, ARM, IRM, or equivalent) are preferred. Experience: 5+ years of experience in insurance management within the EPC, Construction, or Infrastructure industry. Technical Knowledge: Strong understanding of EPC contract structures, project insurance policies, and risk assessment. Familiarity with FIDIC contracts and regional insurance laws. Expertise in handling claims, policy negotiations, and risk mitigation strategies. Skills: Strong analytical and negotiation skills. Excellent communication and stakeholder management abilities. Proficiency in MS Office and insurance management software. Preferred Industry Experience: EPC Construction (Power, Oil & Gas, Infrastructure) Large-Scale Projects (Substations, Transmission Lines, Civil & Industrial Projects) International Project Exposure is a plus Employment Type Full Time Company Industry ConstructionCivil Engineering Department / Functional Area InsuranceUnderwritingSurveyingActuary Keywords Professional IndemnityErection All RisksCommercial General LiabilitiesWorkman CompensationMarine CargoEquipment InsuranceInsurance ExecutiveEPC Project Get real-time job updates only on our App