Product Underwriting Legal – Product Counsel

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 the Company. 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 the Global Head of Underwriting and Reinsurance Legal within AIG’s legal department. 

The primary responsibility of the Product Counsel is to support the Lead Underwriting Counsel in providing the Chief Underwriting Office and the North America and International businesses of AIG in developing market leading products through drafting and developing both new and updated standard proprietary AIG policies and endorsements that reflect underwriting intent clearly and unambiguously. The role requires collaboration with the North America and International Insurance line of business legal teams as well as other areas in GLCR and with Underwriting, Claims, Actuarial, and Reinsurance colleagues.

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. 

• 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.

What we are looking for:

• Legal degree and current legal qualification/licenses required.

• 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.

For positions based in New York City and Jersey City, the base salary range is $160,000- $190,000. In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. We’re proud to offer a range of competitive benefits, a summary of which can be viewed here: AIG Benefits Overview.

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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 are proud to offer a range of employee benefits and resources that help you protect what matters most – your health, 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.

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.

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 financial security—as well as your professional development—to bring peace of mind to you and your family.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

Welcome to a culture of belonging

We’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through our flexible work arrangements, diversity and inclusion learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The diversity of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.

AIG provides 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.

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please send an email to [email protected].

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