Insurance jobs in Mumbai, Maharashtra

We're Hiring: Senior Executive Marine Insurance & Claims Department

Emarat Maritime LLC - Mumbai

Reporting to: CFO & Managing Director

Emarat Maritime LLC is seeking an experienced and strategic Senior Executive of Marine Insurance & Claims Department to lead and develop our Marine Insurance & Claims function. This senior leadership role is responsible for driving insurance strategy, overseeing claims management, ensuring regulatory compliance, mitigating risk exposure, and leading a high-performing team in alignment with the company's vision and objectives.

Key Responsibilities

Marine Insurance Administration

• Support the administration and management of marine insurance policies, renewals, endorsements, and certificates.
• Coordinate with brokers and insurers for policy placements and renewals.
• Monitor policy validity and ensure timely renewal of coverage.
• Verify insurance documentation and vessel certification requirements for port entries and operational compliance.
• Maintain accurate records of all insurance policies, endorsements, and related documentation

Strategic Leadership & Department Management

• Manage the Marine Insurance & Claims Department.
• Serve as the primary escalation point for all marine insurance and claims matters.
• Represent Emarat Maritime LLC as the Group Principal in marine insurance policies and claims functions.
• Ensure effective implementation of marine insurance procedures, policies, and controls across the organization.
• Provide strategic guidance to senior management on insurance and risk-related matters.

Risk Assessment & Insurance Policy Management

• Develop and implement marine insurance strategies to optimize coverage and reduce risk exposure.
• Lead insurance renewals, policy placements, endorsements, and premium negotiations.
• Assess voyage-related risks, including war risk, piracy, sanctions, and Kidnap & Ransom (K&R) exposures.
• Ensure statutory, financial, and port-entry insurance compliance for all vessels.
• Monitor policy expirations and coordinate timely renewals with brokers and insurers.

Claims Management & Settlement

• Oversee the complete lifecycle of marine insurance claims, including:
• P&I (Protection & Indemnity)
• Hull & Machinery (H&M)
• FD&D (Freight, Demurrage & Defense)
• Loss of Hire (LOH)
• Manage complex and high-value claims and settlements.
• Liaise with insurers, brokers, P&I Clubs, surveyors, adjusters, and legal representatives.
• Review claim recoveries, reimbursements, and settlement recommendations.
• Ensure accurate documentation, reporting, and claim closure.

Team Leadership & Development

• Lead, mentor, and develop a team of Insurance Officers and Claims Executives.
• Allocate responsibilities according to complexity and business priorities.
• Conduct performance reviews and ensure operational excellence.
• Promote a culture of continuous learning, knowledge sharing, and succession planning.

Compliance, Audit & Governance

• Ensure compliance with international marine insurance regulations and policy requirements.
• Support internal and external audits and drive timely closure of audit findings.
• Monitor compliance with regulations such as OPA 90, MLC, and the Canada Shipping Act.
• Maintain accurate insurance records, certificates, and audit documentation.

Stakeholder & Vendor Management

• Manage relationships with:
• Marine Insurance Brokers
• P&I Clubs
• H&M Insurers
• FD&D Underwriters
• Marine Surveyors & Loss Adjusters
• Legal Counsel and Sanctions Specialists
• Evaluate service providers and ensure delivery against agreed service standards.
• Act as the key liaison between internal stakeholders and external insurance partners.

Reporting & Strategic Analysis

• Prepare insurance and risk reports for Executive Management and Board review.
• Analyze claims trends, loss ratios, deductibles, and premium movements.
• Identify cost-saving opportunities and recommend insurance program enhancements.
• Support long-term risk management and business continuity strategies.

Emergency & Crisis Response

• Support incident response and claims activation during vessel emergencies.
• Participate in emergency response planning, drills, and cross-functional reviews.
• Coordinate communications with insurers, brokers, legal advisors, and crisis management teams.

Qualifications & Experience

✅ Master’s Degree in Law, Insurance Law, Risk Management, or a related discipline.

✅ 5-7 years of experience in marine insurance and claims handling, including leadership responsibilities within the maritime sector.

Industry required - Only from Shipping background

Technical Expertise

• Extensive knowledge of:
• Marine Insurance Policies
• P&I, H&M, FD&D, and LOH Insurance
• Claims Management and Recovery Processes
• International Maritime Insurance Regulations
• Risk Assessment and Insurance Strategy
• Marine Legal and Compliance Frameworks

Key Competencies

• Strategic Thinking
• Leadership & People Management
• Analytical Thinking & Attention to Detail
• Problem Solving & Decision Making
• Stakeholder Management & Collaboration
• Communication & Influencing Skills
• Change Management & Innovation
• High Ethical Standards & Integrity

Suitable candidates are invited to apply by sending their CV to [saily@emaratmaritime.com]

Pay: ₹1,200,000.00 - ₹1,800,000.00 per year

Work Location: In person