Director of Insurance

2 months ago

Franklin, United States Acadia Healthcare Full time

Overview:

PURPOSE STATEMENT:

The Director of Insurance & Risk Finance is responsible for leading the corporate and field Risk Management staff in securing and maintaining Acadias property, casualty, and financial lines insurance policies and bonds placements. Serves as chief underwriting officer of Acadias single parent Captive. Develop processes to provide relevant reports of insurance, incident, & loss trends to senior leadership and properly allocate costs among Acadias multiple locations. Lead Risk Management due diligence responsibilities in Acadias acquisitions and de-novos. Responsible for Risk Manager training on insurance for field staff. Can be remote.

Responsibilities:

ESSENTIAL FUNCTIONS:

  1. Responsible for the management and renewal of all property, casualty, and financial lines insurance policies.
  2. Responsible for identifying and assessing the organizations risks and determination of appropriate levels of risk transfer where possible and applicable.
  3. Manage data collection and consolidation of exposures for all lines of insurance for submission to insurance carriers as well as any required completed applications.
  4. Ensure all incidents, potential claims, and claims or suits are reported to the appropriate policy and manage any coverage disputes which may arise.
  5. Continuously review level 1 & 2 incidents with Dir of Risk & Dir of Claims to identify incidents which have the potential to result in litigation and which should be reported to carriers as well as any trends which may drive losses and affect pricing or terms and conditions of future insurance placements.
  6. Continuously review all active claims and suits with claims team to identify developing deviations from accrued liabilities as well as any trends which may affect pricing or terms and conditions of future insurance placements.
  7. Prepare loss runs and exposures for PLGL, WC, and any other applicable lines of insurance for the preparation of actuarial studies; review draft studies for reasonableness and accuracy; finalize actuarial studies and coordinate with accounting for appropriate loss reserving
  8. Determine facility allocations based on exposure data, actual and expected premiums, actuarial studies as well as facility specific adjustments based on KPIs such as incident rates, potentials, and claims data and adherence to corporate risk management programs and initiatives
  9. Determine one time and ongoing facility penalty/charge backs based on incident and claims data (i.e. TTM WC claims trend, Not accommodating light duty restrictions, PLGL blind suits, Incident trends)
  10. Oversee insurance broker relationship and lead broker RFP if applicable and negotiate fee agreements
  11. Manage insurance broker offerings and resources and coordinate with risk and clinical services for loss control services; identify areas loss control is warranted based on incident and claim data and carrier feedback.
  12. Oversee wholly owned subsidiary single parent captive; serve as its chief underwriting officer, underwrite and set premium for medical providers; negotiate PLGL reinsurance program; reconcile monthly loss runs to captive financials; perform actuarial studies; continuously asses.
  13. Prepare and perform market presentations for applicable lines of insurance which depict an overview of Acadias operations as well Risk Management practices that outline Acadia as a desirable risk to current and potential insurance carriers
  14. Annual education of all field risk managers on how to complete insurance renewal data collection
  15. Prepare and present an insurance overview segment given to new risk managers during corporate training.
  16. Conducts due diligence activities for acquisitions and de-novos for insurance and risk management; Collect and review operation, exposure, and loss data for assessment of impact to the organization as well as underwriting in to its insurance programs
  17. Manages and negotiates collateral requirements required by carriers for deductible and fronted programs.
  18. Reviews contracts for insurance and indemnification requirements to ensure compliance with Acadias risk management program and reduce third party risk to the organization
  19. Manages the production of certificates of insurance needed by vendors, payors, landlords, and other third party organizations

OTHER FUNCTIONS:

  • Perform special projects required to support the functions of the Risk Management Department
  • Performs other duties as assigned.

STANDARD EXPECTATIONS:

  • Complies with organizational policies, procedures, performance improvement initiatives and maintains organizational and industry policies regarding confidentiality.
  • Communicate clearly and effectively to person(s) receiving services and their family members, guests and other members of the health care team.
  • Develops constructive and cooperative working relationships with others and maintains them over time.
  • Encourages and builds mutual trust, respect and cooperation among team members.
  • Maintains regular and predictable attendance.


Qualifications:

EDUCATION/EXPERIENCE/SKILL REQUIREMENTS:

  • Bachelors degree or at least 10 years of experience in the insurance industry.
  • Seven plus years of experience leading insurance functions at a multi-site company
  • Experience leading a team.
  • Advanced computer skills including Microsoft Office; especially Word, Excel, and PowerPoint.
  • Knowledge of office administration procedures with the ability to operate most standard office equipment.
  • Ability to work professionally with sensitive, proprietary data & information while maintaining confidentiality.
  • Excellent interpersonal skills including the ability to interact effectively and professionally with individuals at all levels; both internal and external.
  • Exercises sound judgment in responding to inquiries; understands when to route inquiries to next level.
  • Self-motivated with strong organizational skills and superior attention to detail.
  • Must be able to manage multiple tasks/projects simultaneously within inflexible time frames. Ability to adapt to frequent priority changes.
  • Capable of working within established policies, procedures and practices prescribed by the organization.

LICENSES/DESIGNATIONS/CERTIFICATIONS:

  • Not Applicable

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