American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide financial security.
About the role:
We are seeking an experienced attorney to join the Product Underwriting Legal team as Product Counsel in the Global Legal, Compliance and Regulatory (GLCR) department at AIG.
The Product Underwriting Legal team is comprised of attorneys, and other para-professionals, providing high quality advisory, transactional and regulatory support across AIG. This role will support projects that are time-sensitive, highly visible inside and outside of the company, and key to AIG’s strategic business initiatives. This position ultimately reports to Head of Product Underwriting Legal within GLCR.
The primary responsibility of the Product Counsel is to support the Lead Underwriting Counsel in developing market leading products through drafting and developing both new and updated standard proprietary AIG policies and endorsements. The role supports all product lines across the breadth of AIG; however, the non-exclusive focus will be on product Lines within North America. The role requires collaboration with other legal teams in GLCR, and with Underwriting, Claims, Actuarial, and Reinsurance colleagues.
This is a high-profile role within our organization, on a team with evolving responsibilities, so there will be the opportunity to shape this role to support AIG’s business needs.
Responsibilities:
Draft and develop both new and updated standard proprietary AIG products, policies, and endorsements. Support Compliance and Regulatory Filings to obtain required approvals, where necessary.
Support the Lead Underwriting Counsel in providing advice to the office of the CUO in adopting new and updated policies and endorsements and work with appropriate parties to effectuate the transition.
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Develop AIG policies and endorsements based on broker and other insurers’ forms, to address client-specific exposures and to promote the use of AIG preferred wordings in policy placements.
Work closely with GLCR colleagues to address legal, regulatory and compliance issues of all types related to product development and policy wordings.
Provide advice and insights with respect to policies and endorsements used by other market participants.
Ensure underwriting intent is reflected by utilizing clear and unambiguous policy and endorsement wording.
Work with other areas in AIG, such as Claims, Actuarial, and the Coverage Litigation team, to identify exposure trends relative to policy and endorsement wordings and to appropriately address the trends in policies and endorsements standard language.
Drive remediation of existing policies and endorsements, identifying those that should be retired, updated, or replaced.
Act as a liaison coordinating and driving policy and endorsement wording drafting and discussions with line of business leaders, chief product underwriters, senior claims executives and other internal and external stakeholders.
Support the population and maintenance of a comprehensive policy and endorsement repository.
Support the Lead Underwriting Counsel in providing advice to the office of the CUO on the development of guidelines and authorities to facilitate comprehensive product and wordings governance.
Provide policy and endorsement training for AIG underwriting staff, giving direction and insight on wording and usage.
Provide input to data science teams as an advisor on the design, development, and deployment of AI-enabled tools to assist with policy wording management and governance.
Qualifications:
5+ years of Product Counsel experience
JD required
Experience in Property and Casualty experience preferred.
Demonstrated experience advising senior business partners/clients on complex insurance wording, coverage, and related insurance transactional matters within aggressive timeframes.
Proven ability to work in a team environment to successfully achieve goals.
Strong ability to prioritize projects, respond promptly in an appropriate manner and deliver with excellence in a high pace environment.
Exceptional oral and written communicator with the ability to distill complex topics and issues into to relatable and easy to understand concepts for non-lawyers
Driven problem solver with demonstrated success in proactively addressing internal and external client needs with fit for purpose solutions in a timely fashion.
Very detail oriented and focused on developing thorough documentation to support sustainable processes and practices.
Avid curiosity and eagerness to learn from experiences and new situations.
Advanced proficiency in Microsoft Office tools and legal research databases.
A look at our benefits
At AIG, we have a 100-year legacy of working to make the world a better place. And that begins with our employees. We’re proud to offer a range of employee benefits and resources that help you protect what matters most – your health care, savings, financial protection, and wellbeing. We provide a variety of leaves for personal, health, family, and military needs. For example, the “Giving Back” program allows you to take up to 16 hours a year to volunteer in your community.
We also believe in fostering our employees’ development and offer a range of learning opportunities for employees to hone their professional skills to position themselves for the next steps of their careers. AIG also has a tuition reimbursement program for eligible employees to enhance their education, skills, and knowledge in areas that relate to their current position or future positions to which they may transfer or progress.
We are an Equal Opportunity Employer
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories. At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
The base salary range for this position in New York is $149,000-$187,000. For positions based in Illinois and New Jersey, the base salary range is $135,000-$175,000. The position is eligible for a bonus in accordance with the terms of the applicable incentive plan. Your actual compensation will be dependent on your skills, experience, and qualifications. In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits Overview.”
At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.
Enjoy benefits that take care of what matters
At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and fin
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