Marine Insurance Officer
National Marine Dredging Company
Abu Dhabi
Job description / Role:
- Manage all the insurance program of NMDC existing insurance policies which covers both local and international projects insurance policies.
- Negotiate insurance terms with insurance providers to obtain the best insurance coverage at the reasonable price as well as introduction of new useful coverage keeping in mind NMDC’s projects expansion at international level.
- Study insurance proposals before tendering all insurance policies and preparing bid analysis.
- Liaise with claims issues specifically P & I (protection & indemnity) cases and follow up settlement of claims related matter.
- Interpret and advice claims adjusters of marine insurance policy.
- Ensuring the offered premium is competitive.
- Negotiating with brokers and drawing up contracts
- Review the current insurance contracts / sub contracts to ensure that NMDC interest is adequately protected.
- Review and assess background information in order to effectively assess the risk involved.
- Keeping detailed and accurate records of policies underwritten and decisions made.
- Computing results for appropriate premiums using actuarial information, other statistics and own judgement;
- Maintain files and documentation thoroughly and accurately, in accordance with company policy and accepted practices.
- In many annual policies have introduced profit sharing clause i.e. in case the accounts is making profit NMDC is entitled to recover part of the premium paid to the insurance company.
- Comply with Company’s Safety & Environmental policy and motivating other team towards its observance.
- Take a lead role in promoting safe practices and implementation of health and safety policies.
- At all times carrying out responsibilities within the framework of NMDC’s policy.
- This is a generalist view of a Job that you have been assigned for – at times you will be ask to do above/beyond the scope of this role due to Operational requirements
