BASIC FUNCTION: Responsible for the management and administration of the global Hull and Machinery and Excess Liability insurance program and the related local insurance programs. Review insurance, liability and indemnity provisions of proposed drilling contracts, shipyard agreements, and master service agreements. Review insurance policy terms and conditions to ensure the Company maintains desired level of insurance coverage. Serve as initial contact for questions concerning general risk management. Interact with insurance brokers and underwriters for insurance renewals. Handle various special projects as requested.

DUTIES: AUTHORITY
1. Manage the global hull and machinery and excess liability insurance program renewal to optimize coverage value based on the company’s risk objectives. Prepare analysis to determine optimal deductible and self retention levels. Prepare documentation to request subsidiary entity approval of insurance program and oversee the settlement of insurance invoices.
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2. Evaluate contractual agreements Company-wide to determine if the agreements effectively transfer, mitigate or avoid financial obligations not expected by the Company and ensure agreements are in compliance with insurance requirements or restrictions. Involved in the contract negotiation process with internal marketing department, outside vendors and customers. Contracts include but are not limited to agreements for towing, joint venture, specialized services, consulting, vendor MSAs and drilling tenders.
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3. Oversee the subcontractor insurance approval process to ensure that risk and insurance transfer mechanisms are effective. Determine that the proper insurance requirements are met and evidenced by receipt of satisfactory insurance certificates. Manage the vendor MSA database to collect and sort the necessary data. I

4. Develop and complete analysis and presentations for reporting purposes for the board of directors, senior management and insurance underwriters.
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5. Interact with brokers, underwriters, the Company’s field offices and senior management in the procurement and administration of various insurance programs including hull & machinery, excess liabilities, captive insurance, and automobile liability coverages.
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6. Analyze and obtain, if needed, local insurance coverages required by local legal and contractual obligations. Develop cost effective options for compliance. Confer with the Tax Department, regional offices and brokers for determination.
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7. Manage the development of the insurance premium allocation for the rig fleet and onshore support facilities.
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8. Provide expert guidance to the captive insurance company’s board of directors and administrators.
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9. Provide certification of insurances for clients, financial institutions and governmental authorities.
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10. Monitor and report to underwriters any asset or corporate changes that could impact the insurance program such as the sales of rigs, additional equipment purchases, rig moves and rig shipyards.