Job Description

Roles & Responsibilities

1. Insurance Strategy & Market Engagement

Develop and execute a comprehensive marine insurance strategy aligned with the company’s commercial and operational objectives.
Manage all insurance placements: H&M, War Risk, P&I, Loss of Hire, K&R, Cargo, and Builders’ Risks.
Prepare for annual renewal negotiations to secure competitive premiums, broad cover, and favorable terms.
Benchmark coverage, limits, and deductibles against market norms and peer fleets.

2. Risk Assessment & Fleet Profiling

Assess the company’s risk profile and exposure.
Work closely with Commercial, Technical, and DPA departments to improve loss prevention measures and lower risk ratings.
Monitor geopolitical developments and trade route risk levels (e.g., Joint War Committee Listed Areas, and more).

3. War Risk & AWRP Management

Place and manage War Risk insurance policies, including Additional War Risk Premium (AWRP) arrangements.
Oversee voyage declarations and compliance for vessels trading in High Risk Areas.
Maintain direct dialogue with underwriters regarding risk mitigation measures.

4. Claims Management

Lead end-to-end claims process for H&M, P&I, and War Risk:
- Incident reporting and documentation
- Liaison with surveyors, adjusters, and legal teams
- Negotiation of settlements
Ensure timely claims notification to insurers to protect coverage rights.

5. Policy Administration & Compliance

Maintain up-to-date insurance documentation, certificates, and proof of cover for all vessels.
Ensure compliance with flag state, port state, charterer, and international regulatory requirements.
Implement robust systems for policy tracking, expiry alerts, and renewal planning.

6. Financial Control & Budgeting

Prepare annual insurance budget covering premiums, deductibles, and self-insured retention if applicable.
Analyze total cost of risk and identify opportunities to reduce cost without compromising coverage.
Work with Commercial and Finance team to ensure timely payment of premiums and recovery of claims.

7. Leadership & Team Development

Build cross-departmental awareness of insurance procedures, obligations, and best practice.
Act as the company’s subject matter expert on marine insurance.

Skills & Competencies

Adequate knowledge of marine insurance market practices (London & P&I Clubs) is essential.
Strong negotiation skills, particularly in premium terms, coverage scope.
Analytical mindset with the ability to assess risk trends and their commercial impact.
High integrity and ability to balance contractual compliance with owner’s commercial interest.
Excellent stakeholder management and interpersonal skills.

Ability to operate under pressure and in time-sensitive situation

Desired Candidate Profile

Job Summary The Marine Insurance officer will be responsible for developing, implementing, and managing the shipowner’s insurance strategy, ensuring optimal protection of the company’s fleet, assets, liabilities, and personnel. This includes full responsibility for Hull & Machinery (H&M), War Risk, P&I, Loss of Hire, Charterers’ Liability, Builders’ Risk, AWRP and related covers. The role demands expert negotiation with underwriters and brokers, active claims management, and strategic risk reduction initiatives, with a focus on both cost efficiency and operational resilience.

Qualifications & Experience

Degree in Maritime Studies, Insurance, Law, Business, or related field.
Minimum 5-10 years marine insurance experience, with shipowner, operator, or marine insurance broker.
Experience in handling complex marine claims (H&M, P&I, War Risk).
Proven track record in international marine insurance markets.
Professional qualifications in insurance (e.g., ACII, IUMI, Lloyd’s, …) are an advantage.
English and Arabic Speaking is a plus.
Officer will be working out of company operating HQ in Cairo, Egypt.

Marine Insurance Officer Arab Maritime Petroleum Transport Comapny