Insurance Officer

Requirements

• Education: BSc/HND in Insurance, Law, risk Management or other related field
  

• Experience: 5 -7 years in a similar position within the oil & gas industry or in an insurance or insurance broking firm. Minimum of 3 - 5 years in oil & gas/energy sector or Special Risks insurance programs is highly desirable.
  

• Certification: Membership of the Chartered Insurance Institute of Nigeria (CIIN) or equivalent would be an added advantage
  

• The Insurance Officer will manage the end-to-end insurance process, covering Placement, Claims, and Compliance.
  
• Risk Identification and Coverage: Identify the risks inherent in WAEP's recommissioning and production operations and ensure adequate, prudent insurance coverage for each identified risk.
  
• Negotiation & Review: Review, negotiate, and ensure that sum insured, clauses, exclusions, and other policy items/conditions are in order during placement, aiming for cost optimization without compromising coverage
  
• Policy Documentation: Review Policy documents for accuracy, correctness, and adherence negotiated terms (e.g., Territorial Scope, Deductibles, Limits)
  
• Reinsurance Compliance: Secure and document WAEP's allocation across NAICOM-licensed local insurers and ensure all local statutory requirements relating to insurance are complied with
  
• Contractual Review: Review and advice on contractual provisions relating to insurance in any WAEP contracts, including those with contractors and service providers.
  
• JV Alignment: Liaise with Joint Venture partners (NAPIMS/NNPC) to ensure insurance strategies and implementation on jointly owned assets are aligned with Joint Operating Agreements
  
• Claims Notification: Ensure timely notification of claims to brokers/insurers upon receipt from business units (target: within 7 days)
  
• Claims Substantiation: Vet all claims processing documents for proper substantiation and ensure collation of all required claims documents
  
• Liaison and Follow-up: Follow up with claims adjusters, brokers, and insurers to ensure timelysettlement of all claims
  
• Marine & Transit: Issue, receive, and dispatch all marine certificates and ensure monthly reconciliation of Marine/GIT declarations
  
• Premium Management: Prepare and follow up on premium payments upon receipt of debit notes, ensuring timely payment of insurance premiums to prevent any gap in cover