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About the Role

The Coverholder Oversight Assistant will provide support for delegated authority matters and manage relationships with Coverholders. This role ensures compliance with delegated underwriting authority agreements and helps ensure Coverholders meet annual compliance requirements and satisfy audit recommendations.

Responsibilities

• Support the preparation and delivery of regular reports to B&C boards and committees, including reporting delays and audit findings.
• Assist with the collection and collation of due diligence information for prospective Coverholders.
• Review due diligence information for prospective Coverholders, identify shortfalls, and communicate with them for complete information.
• Complete Lloyd’s Atlas Coverholder applications.
• Complete post-approval changes in Atlas, including new classes of business, relationships, key staff, and ownership/name changes.
• Conduct due diligence checks before delegated authority renewals, ensuring compliance, current E&O/PI, financials, licenses, and no outstanding audit recommendations.
• Collaborate with Coverholders to maintain compliance information and ensure B&C adheres to its obligations under delegated authority agreements.
• Oversee existing Coverholders to ensure compliance with insurer requirements, including annual compliance tasks and attestations.
• Abide by the policies and procedures of Bell & Clements Ltd.
• Assist in scheduling and managing external audits of sub-delegated Coverholders and TPAs.
• Assist with the management of recommendations from Coverholder, Underwriting, and TPA audits.
• Manage the onboarding process for new producing brokers, Insurers, and other applicable parties, including TOBA management.
• Manage the account opening process for producing brokers, insurers, and other applicable parties for internal systems.

Requirements

• Experience of both Lloyd’s and London market is preferred.
• Experience overseeing Coverholder compliance.
• Competent using computerised systems and standard software.
• Team player and willing to engage with other areas of the business.

Location

• London

Work Type

• Permanent
• Hybrid
• Flexible working hours

Salary/Compensations

• Dependent on skills and experience

Benefits

• 25 days annual leave per year (not including bank holidays), increases with length of service
• Private medical insurance for employees, their partners and their families
• Digital GP service
• Allowance of up to £550 per year for health and wellbeing activities or learning a new skill
• Support to work from home up to a maximum of three days per week
• Discretionary financial support covering the cost of professional qualifications, including institute membership, exams, study materials and completion bonuses
• Warm and social culture with regular get togethers

About the Company

• Bell & Clements is a specialist insurance company offering expertise in underwriting, broking and capacity management provisions for Excess and Surplus (E&S) lines insurance solutions.
• The unique combination of broking and underwriting divisions provides the ability to quote and bind risks through inhouse binding authorities, while providing customers with access to Lloyd’s, US and international markets.
• Bell & Clements has been part of the Munich Re Group since 2007 and is a registered Lloyd’s broker.
• There are over 150 staff based across the London headquarters and two U.S offices in Virginia and New Jersey with close collaboration throughout.
• Bell & Clements offers industry leading technology solutions that benefit both customers and inhouse processes.
• Being part of the Munich Re Group enables an inclusive culture that is progressive and ambitious with an established employee benefits program.
• We are a responsible employer, a value-adding partner, and an innovative name in the insurance market.
• Building on a proven industry background over 35 years, we have developed and grown a unique and market-leading brand.
• As a wholly owned subsidiary of Munich Re, we have access to the expertise, products and risk appetite of one of the largest and most successful insurance groups in the world.
• Our business is continuing to grow, and a key commitment is to not only expand our team through recruiting new roles but also through development opportunities to ensure we are always supporting our talented experts in their career journey.
• Our talent pool makes us who we are, and our inclusive culture means we are looking to continue to build our team with broad expertise, diverse backgrounds, and ambitious employees.
• Being part of Bell & Clements provides access to multiple health and wellbeing benefits, work and life balance initiatives (including hybrid working), financial wellbeing packages as well as training, development and career opportunities.

Equal Opportunity

• Bell and Clements is an equal opportunities employer and positively encourages applications from suitably qualified and eligible candidates regardless of sex, race, disability, age, sexual orientation, transgender status, religion or belief, marital status, or parental status.
• At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are.
• We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs.
• Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
• If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!
• All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.