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Contract Insurance Jobs in Burr Ridge, IL (NOW HIRING)

Sidley

Contracts & Compliance Attorney

Chicago, IL · Hybrid

$125K - $140K/yr

... insurance, privacy, and data security requirements in both U.S. and non-U.S. offices. Essential ... Supervise work of contract specialists, project managers and others supporting Client Contracts ...

Cccis

Lead Contracts & Negotiations

Chicago, IL · On-site

$91K - $122K/yr

... insurance economy , creating intelligent experiences for insurers, repairers, automakers, part ... Oversee end-to-end deal execution from intake through pricing, proposal, negotiation, contract ...

Hach

Contracts Manager

Wood Dale, IL · Hybrid

$88K - $118K/yr

Experience with contractual, indemnification, and insurance concepts. * Experience with document tracking / contract lifecycle management systems and AI technology. Hach is proud to part of the Water ...

Chubb

Compensation & Contracts Associate, Sr.

Chicago, IL · On-site

$70K - $92K/yr

Combined Insurance, is seeking a Senior Compensation and Contracts Associate to join our fast-paced, high energy, growing company. We are proud of our tradition of success in the insurance industry ...

King and Spalding LLP

Client Contracts Attorney

Chicago, IL · On-site +1

$145K - $160K/yr

Coordinate contract version control and finalization by completing redline comparisons. * Oversee ... disability insurance, flexible spending accounts and a health savings account, a 401(k) plan ...

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All JobsContract Insurance JobsContract Insurance Jobs in Burr Ridge, IL

Contract Insurance information

What are some common challenges faced by professionals working in contract insurance roles?

Professionals in contract insurance often navigate complex policy language, ensuring that contracts accurately reflect coverage needs and compliance requirements. Managing multiple clients or projects simultaneously can be demanding, especially when addressing unique risk exposures or negotiating terms with underwriters. Additionally, staying current with changing regulations and industry standards is essential for mitigating potential liabilities and providing reliable guidance. Strong attention to detail and clear communication with both clients and other stakeholders are crucial to overcoming these challenges.

What jobs pay 4000 a week without a degree?

Contract insurance roles such as independent insurance adjusters or brokers can pay around $4,000 per week, especially with experience and a strong client network. These jobs often require licensing, good negotiation skills, and the ability to work independently, with income depending on the volume of claims or policies handled.

What are the key skills and qualifications needed to thrive as a Contract Insurance Specialist, and why are they important?

To thrive as a Contract Insurance Specialist, you need in-depth knowledge of insurance policies, risk assessment, and contract law, often supported by a bachelor’s degree in business, finance, or a related field. Familiarity with insurance management software, policy administration systems, and relevant certifications such as CPCU or ARM is highly beneficial. Exceptional attention to detail, negotiation skills, and strong interpersonal communication set top performers apart in this field. These skills ensure accurate policy management, effective risk mitigation, and successful client relationships in a complex regulatory environment.

What is the highest paid position in insurance?

In insurance, executive roles such as Chief Executive Officer (CEO), Chief Underwriting Officer, or Chief Risk Officer tend to be the highest paid positions, often earning six-figure salaries plus bonuses. These roles require extensive experience, leadership skills, and industry knowledge, and they oversee company strategy, underwriting, and risk management functions.

What does an insurance contract do?

An insurance contract is a legal agreement between an insurer and a policyholder that outlines the coverage, terms, and conditions of the insurance policy. It specifies the risks covered, premium payments, and the obligations of both parties, providing financial protection against specified losses. Contract insurance professionals review, draft, and explain these agreements to ensure clarity and compliance with regulations.

What is the difference between Contract Insurance vs Insurance Agent?

AspectContract InsuranceInsurance Agent
CredentialsTypically requires licensing and insurance-specific certificationsRequires licensing and often ongoing training
Work EnvironmentUsually project-based, working with clients or companies on specific contractsOffice or field-based, selling and advising clients on policies
Employer & IndustryInsurance companies, brokers, or agenciesInsurance agencies, brokerages, or direct companies
Search & Comparison IntentUnderstanding contractual roles in insuranceSeeking insurance sales or advisory careers

Contract Insurance professionals focus on providing insurance services through specific contracts, often working on a project basis. Insurance Agents, on the other hand, sell and advise clients on insurance policies, typically working within agencies or brokerages. While both roles require licensing and industry knowledge, their work environments and career paths differ.

What contract job pays the most?

Contract insurance roles such as senior underwriters, claims managers, or risk analysts tend to offer the highest pay, especially with specialized skills or certifications like CPCU or ARM. These positions often require extensive experience and may involve working in high-stakes environments, leading to higher compensation compared to entry-level roles.

What is contract insurance?

Contract insurance is a type of insurance policy designed to protect parties involved in a contractual agreement from financial losses due to specific risks outlined in the contract. This coverage typically addresses issues such as non-performance, damage, or loss that may occur during the execution of a contract. Businesses often use contract insurance to manage risks and ensure all parties fulfill their obligations. It can be customized depending on the nature of the contract and the potential risks involved. Contract insurance provides peace of mind and financial protection for both contractors and clients.
What are the most commonly searched types of Insurance jobs in Burr Ridge, IL? The most popular types of Insurance jobs in Burr Ridge, IL are:
What cities near Burr Ridge, IL are hiring for Contract Insurance jobs? Cities near Burr Ridge, IL with the most Contract Insurance job openings:
Contract Insurance jobs near you

Contracts & Compliance Attorney

Sidley

Chicago, IL • Hybrid

$125K - $140K/yr

Full-time

Posted 17 days ago

Job description

Summary

The Contracts and Compliance Staff Attorney will be principally responsible for negotiating client-driven engagement letters, Outside Counsel Guidelines, Information Security and AI Amendments (collectively "Client Contracts") for existing and prospective clients on behalf of the Firm and coordinating the input from various Firm stakeholders to facilitate a prompt resolution of issues and agreement with Client Contracts. This position will work under the supervision of the Contracts & Compliance Attorney Senior Manager and directly with Firm partners and management and senior members within the Firm's Office of General Counsel and Conflicts and New Business organizations. This position will also help support necessary processes and procedures to ensure compliance with legal and ethical obligations of a global law firm, including compliance with relevant aspects of AML/KYC, AI, insurance, privacy, and data security requirements in both U.S. and non-U.S. offices.

Essential Duties and Responsibilities

  • Serve as subject matter expert on the ethical and legal issues with respect to Client Contracts and Client Questionnaires, including facilitating and, where appropriate, leading discussions and negotiations with firm clients regarding such matters.
  • Identify terms that should be escalated and discussed with senior members of the Office of General Counsel, Conflicts and New Business or Firm management and facilitate the resolution of issues with respect to problematic ethical and legal terms in Client Contracts.
  • Coordinate and work closely with all stakeholders in the OCG process, including Conflicts and New Business, Client Arrangements, Billing, IT Security, Privacy, Vendor Contracting and other teams in connection with the review of Client Contracts.
  • Support creation of procedures/manual for the review of Client Contracts, including creating efficiencies and repositories for responses to frequent legal and ethical issues.
  • Maintain an updated database for tracking the progress of Client Contracts negotiations to ensure timely resolutions.
  • Serve as subject matter expert regarding coding of ethical and legal issues in IntappTERMS.
  • Conduct periodic audit of coding for ethical and legal issues in IntappTERMS and correct inaccurate entries.
  • Review and analyze conflicting engagement terms in multiple engagement letters and/or Client Contracts for the same client and recommend solutions.
  • Work with senior members of the Conflicts and New Business organization, Advance Waiver Committee, and others to identify Client Contracts and engagement letters without full advance waivers.
  • Supervise work of contract specialists, project managers and others supporting Client Contracts related initiatives
  • Study and stay current with laws and rules pertaining to conflicts of interest, Client Contracts, and related ethical issues in each jurisdiction in the United States where the Firm maintains offices.
  • Support necessary processes and procedures to ensure compliance with legal and ethical obligations of a global law firm, including compliance with relevant aspects of AML/KYC, insurance, privacy, and data security requirements in both U.S. and non-U.S. offices.
  • Perform various special projects and duties as assigned.

Education and/or Experience:

Required:

  • Juris Doctor or equivalent degree from an accredited law school
  • Minimum 2 years of experience in reviewing, interpreting, and negotiating Outside Counsel Guidelines, Engagement Terms, and Master Service Agreements in a law firm or corporate setting
  • Knowledge of rules of professional responsibility
  • Admission to a bar in jurisdiction where Firm has an office (preferably Illinois or New York)

Preferred:

  • Familiarity with contract terms relating to privacy and data security
  • Database research experience, especially IntappTerms
  • Experience with Netdocs or other document management systems and Microsoft Office Suite

Other Skills and Abilities:

The following will also be required of the successful candidate:

  • Strong organizational skills and self-starter
  • Strong attention to detail
  • Good judgment and strategic thinking
  • Strong interpersonal communication skills
  • Strong analytical, problem-solving and legal research skills
  • Able to work harmoniously and effectively with others
  • Able to preserve confidentiality and exercise discretion
  • Able to work under pressure
  • Able to manage multiple projects with competing deadlines and priorities in a high performance environment

#LI-GK1

#LI-Hybrid

The target salary range for this role is:

$125,000 - $140,000 if located in Illinois

Salaries vary by location and are based on numerous factors, including, but not limited to, the relevant market, skills, experience, and education of the selected candidate. Our compensation package also includes bonus eligibility and a comprehensive benefits program. Benefits information can be found at Sidley.com/Benefits.

To perform this job successfully, an individual must be able to perform the Duties and Responsibilities above satisfactorily and meet the requirements. The requirements listed above are representative of the minimum knowledge, skill, and/or ability required. Reasonable accommodations will be made to enable individuals with disabilities to perform the essential functions of the job. If you need such an accommodation, please email sidleytalentacquisition@sidley.com (current employees should contact Human Resources).

Sidley Austin LLP is an Equal Opportunity Employer.

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