Director, Assumed and Ceded Reinsurance
About Physicians Insurance
Physicians Insurance was founded in 1981 under the auspices of the Washington State Medical Association. Physicians believed then, as they do now, that they would get better service and outcomes from a company that they owned, rather than from a giant, national firm with no local presence.
Since then, other insurance carriers have entered and left the market, but Physicians Insurance has remained the stable, committed, and local insurer for physicians, clinics, facilities, and hospitals. For more than 40 years, the company has experienced steady growth and has built a strong financial base by delivering unwavering protection, empathetic expertise, financial strength, and guidance to our Members when they need it most.
Today, Physicians Insurance serves more than 8,500 both in its home region of the Pacific Northwest and across the country, providing MPL coverage, risk-management consulting, continuing medical education, and claims support. The company is rated A- (Excellent) by A.M. Best Company*.
Physicians Insurance maintains corporate headquarters in Seattle with remote offices in additional states. We are proud to have a long history of excellent operating results and are dedicated to living our values of expertise, commitment, and putting people first.
*A.M. Best’s ratings are on a scale from A++ (superior) down to D (poor), with even lower ratings for companies under regulatory supervision or in liquidation.
The Director, Assumed and Ceded Reinsurance will ensure accurate and timely settlements with reinsurance partners and manage reinsurance data flow into and out of our financial recordkeeping systems. This role will also facilitate the purchase of reinsurance and provide accurate reporting of liabilities to our reinsurers, reinsurance brokers, and colleagues. This role will also be responsible for collecting ceded liability balances, providing accurate data for internal and external financial statements, and ensuring that Physicians Insurance is appropriately following our reinsurance-related contractual obligations.
Responsibilities include but are not limited to the following:
• Ensure accurate and timely settlements with reinsurance partners.
• Manage and record reinsurance data flow into and out of financial recordkeeping systems.
• Support the purchase of reinsurance for core lines of business
• Provide accurate reporting of liabilities to reinsurers, reinsurance brokers, and internal employees.
• Collect ceded liability balances and provide accurate data for internal and external financial statements.
• Ensure compliance with reinsurance-related contractual obligations.
• Develop and maintain positive working relationships with current and prospective reinsurance partners.
• Actively monitor all reinsurance-related transactions.
• Provide support to other departments on reinsurance issues.
• Educate internal teams on reinsurance concepts when needed.
• Oversee key processes including the preparation of Schedule F.
• Collect reinsurance recoverables.
• Coordinate reinsurer claims and underwriting audits for core lines of business
• Bachelor’s degree in Insurance, Accounting, Finance, Actuarial Science, or a similar field or equivalent work experience.
• 7 years of experience successfully managing reinsurance in commercial casualty insurance preferred.
• Demonstrated knowledge of Treaty Reinsurance and insurance company operations (actuarial, finance, accounting, claims, underwriting, etc.)
• Strong accountability and ability to find optimal solutions independently
• Strong preference for candidates to work in the Seattle office 3 days per week
• Excellent interpersonal skills, written and verbal communication
• Experience with Sapiens Reinsurance Pro or similar system preferred
• Proficiency in Microsoft Office suite (Outlook, Word, Excel).
• Experience in underwriting, finance, accounting, and/or actuarial fields.
• Experience in budgeting and forecasting revenue and expenses.
• Established relationships within the reinsurance brokerage community.
To apply for this position, please go to Current Opportunities at Physicians Insurance
The salary range for this position is $115,400 to $184,000. The range displayed on each job posting reflects the minimum and maximum for new hire salaries for the position. Starting salary is determined by several factors, including job-related skills, experience, and relevant education or training. This position is also eligible for an annual company bonus at an incentive target level of 12%.
We also offer a comprehensive benefits program, including a generous retirement program and Paid Time Off. Please visit Physicians Insurance - A Mutual Company for detailed benefit descriptions.
At Physicians Insurance, you’ll find an exceptional hybrid work environment, and the opportunity to work for an industry leader whose programs have a positive impact on insurance and healthcare.
OUR PURPOSE
To protect, defend, and support our Members.
OUR VALUES
People-First - we treat everyone with respect and empathy.
Expertise - we strive to be the best at what we do.
Commitment - as a mutual company, we are accountable and dedicated to our Members and to each other.