Job Description:

The Director is responsible for oversight of Insurance Operations including the implementation, optimization, and operations of the University’s casualty and property insurance programs. The Office is responsible for purchasing and maintaining all property and casualty insurance coverage and maintaining all policies.

Develop and manage an overall University-wide insurance program in order to provide insurance protection the University, its employees and related organizations from losses that occur. Formulate and recommend insurance strategies, identify and analyze areas of exposure, and make recommendations for how best to eliminate, reduce, insure and self-insure these potential sources of loss. The current program focuses on the following core policies: Commercial General liability, Umbrella liability, Professional Liability, Foreign liability, Pollution liability, Trustees & Officers (employment practices, management liability) Fiduciary, Crime, Cyber, Auto, Property, and Workers Compensation. Managing the insurance program is an integral component of the University’s overall Risk Management objectives in order to maximize opportunities and minimize setbacks to the mission and strategic initiatives.

Major Responsibility: Casualty Insurance Program

Manage the overall insurance portfolio of $4-$5 million in premiums:

• Manage the procurement, negotiation, placement and/or administration of the University's property, liability, self-insured workers' compensation and other insurance and self-insurance programs (excluding employee benefit programs).
• Develop marketing strategy for renewals with insurance brokers. Research and evaluate new insurance products. Negotiate policy terms and pricing.
•  Recommend strategies for financial impact of insurance self- insured retentions, loss projections and internal allocation methodologies. Identify, analyze and assess loss potential and recommend methods of managing risk.   The University’s retentions range from $25,000 to $4 million+ per claim.

• Provide direction, management and leadership in the administration of all aspects of the insurance programs for the University. 
• Monitor and analyze new and changing risk exposures.

• Perform risk and loss control analysis, identify areas for improvement and make recommendations for action to senior management.
• Manage insurance broker and insurance carrier relationships including claims resolution issues

• Review renewal policies and compare various methods of insurance coverage. Serve as liaison to brokers, carriers and other third-party vendors.
• Set standards for University insurance requirements.
•  Serve as a specialized resource to faculty, staff and students on issues related to risk assessment and insurance coverage issues.  (examples include – new programs, experiential learning, coverage for research, professional liability coverage etc.).  Partner with internal customers to identify and help mitigate operational risks and guide customers in the appropriate use of insurance.

• Review, recommend and approve insurance requirements included in contract language. Contracts are received from areas throughout the University with the most frequent requests coming from the Brown Contract Management system (BCM), Real Estate Office, Office of Sponsored Programs, Research Contracts Office in OVPR and the Office of the General Counsel.

Major Responsibility:    Pinnacle Consortium of Higher Education, A Vermont Reciprocal Risk Retention group  

Brown University owns a Vermont based insurance risk retention group with 17 other Universities. Brown's participation in this organization is the cornerstone of the University’s insurance program. Management of these complex arrangements requires active participation from member institutions in order to achieve Pinnacle’s mission of providing maximum long-term stability in the availability of broad coverage terms and cost of insurance.  Pinnacle RRG was formed in 2004 its predecessor, Genesis Ltd, was formed in 1980.  Brown University was a founding member and strives to retain an active leadership role.

This position currently supports these efforts in the following manner:

• Member of Policy Review Committee 
• Member of Operations Committee 
• Member of Strategic Planning Committee
• Member of the Subscribers Committee (This committee is the equivalent of a Board of Directors and is responsible for all insurance matters related to coverage, renewals, and broker relations.)                                                  

•  Travel to attend company meetings, is required 3-5 times annually. 

•  Negotiate and review insurance policies and contracts issued through Pinnacle. 

•   Provide accurate, appropriate underwriting information in support of Brown's participation in this company.

•  Review loss information and claim reserves provided by broker and insurance company for accuracy and as a risk management tool for trend analysis.  (Premium allocations among the member schools are affected by information provided.)

• Actively participate in company management.

Major Responsibility: Property Insurance Program

• Ensure that University property, and property that the University is contractually responsible for, is properly insured.  This program includes coverage for all University buildings, contents, fine arts, rare books and equipment.   Total insured values for property are $4.3 billion with an additional $75 million for fine arts.
•  Develop and implement policy changes for internal methods of claim reimbursement. Negotiate or approve claim settlements for claims including Internal claims from University departments, facilities related claims, damage caused by third parties, student damage claims, damage to equipment or fine arts on loan to Brown.
• Develop marketing strategy for renewals with insurance brokers.
• Research and evaluate new insurance products. Negotiate policy terms and pricing.
• Manage the relationship with the commercial insurance carrier and Facilities and Campus Operations for construction, renovations and operations related to the property insurer engineering requirements, and operational recommendations covering the University’s requirements to work with the insurers engineering recommendations and requirements.
•  Advise Planning Development & Construction group within Facilities and Campus Operations Management and outside counsel regarding insurance requirement language in AIA construction contracts and securing appropriate builders risk insurance coverage.

Major Responsibility: Workers' Compensation program 

• Responsible for oversight of the University's self -insured workers' compensation program.  Ensure effective program management to provide quality care for Brown’s employees including innovation in identifying return to work opportunities.   This self-insured program generates expenses and claims of approximately $400,000 per year.
•  Provide direct supervision to the Associate Director, Insurance who has responsibility for the day to day operations of the self- insured workers compensation and responsibility for managing workers compensation claims for employees working in other states.
•  Make recommendations for addressing workers compensation coverage in “Other States” as the University’s footprint of remotely assigned employees evolves. 
•  Maintain knowledge of emerging trends in workers compensation legislation and insurance coverage in order to make recommendations for changes in University programs providing this coverage.

Major Responsibility: Insurance Administrative

• Direct supervision of Assoc Director, Insurance – this position is primarily responsible for claims management for all aspects of claims handled by the Insurance Office.  The Director will serve as liaison for complex claims.
• Budget – management of and planning for the 4 cost centers associated with the insurance program (Insurance, Workers Comp, Auto and Claims/Recoveries).
• Serve on the University’s Risk Management Committee
• Participate in other University committees and working groups as requested
• Other related administrative responsibilities, including developing/maintaining department website, insurance related policies and procedures as well as providing periodic and ad hoc reports. Participate as part of the Internal Consulting Services team as requested.

Major Responsibility: Treasury Operations 

• Represent Brown University on the Pinnacle Finance Committee in the absence of the AVP for Treasury and Insurance.
• Review and approve electronic payments above certain thresholds
• Participation in the post issuance bond compliance project and the annual review related to contracts and departmental interaction in pursuit of identifying possible reportable private business use
• Supporting the stages of a bond issuance by helping review certain documents and lending support in managing the lengthy process.

Job Qualifications

• BA degree -Business, finance or risk/insurance management or equivalent fields preferred, or equivalent combination of education and experience.     
• Advanced degree in business/finance or risk/insurance management preferred.
• Eight to Twelve years of experience in a similarly complex enterprise in risk management/insurance with five years progressively responsible management experience.
• Professional risk management certification preferred.
• Strong analytical skills including critical thinking, problem-solving skills.
• Extensive knowledge of insurance and risk management, including loss control management and claims administration procedures. 
• Ability to analyze and interpret contract language.
• Ability to plan and set strategic direction for program development.
• Ability to build and maintain strong relationships with internal and external customers while balancing diverse stakeholder interests.
• Demonstrated ability to support a community of diverse perspectives and cultures in an inclusive environment.

​All offers of employment are contingent upon a criminal background check and education verification satisfactory to Brown University.

Benefits of Working at Brown:

Information on the Benefits of Working at Brown can be found here.

Recruiting Start Date:

2024-12-13

Job Posting Title:

Director, Insurance

Department:

Treasury and Insurance Operations

Grade:

Grade 12

Worker Type:

Employee

Worker Sub-Type:

Regular

Time Type:

Full time

Scheduled Weekly Hours:

37.5

Position Work Location:

Hybrid Eligible

Submission Guidelines:

Please note that in order to be considered an applicant for any staff position at Brown University you must submit an application form for each position for which you believe you are qualified. Applications are not kept on file for future positions. Please include a cover letter and resume with each position application.

Still Have Questions?

If you have any questions you may contact [email protected].

EEO Statement:

Brown University is an E-Verify Employer.

As an EEO/AA employer, Brown University provides equal opportunity and prohibits discrimination, harassment and retaliation based upon a person’s race, color, religion, sex, age, national or ethnic origin, disability, veteran status, sexual orientation, gender identity, gender expression, or any other characteristic protected under applicable law, and caste, which is protected by our University policies.