Compliance Analyst

Hudson is a market-leading specialty insurer that offers a wide range of property and casualty insurance products to corporations, professional firms and individuals through retailers, wholesalers and program administrators.

We focus our attention and our resources on finding high-quality solutions that give our business partners, producers, and policyholders a safe harbor for the risks they face.

Headquartered in New York City with offices throughout the U.S. and in Vancouver, Canada, Hudson underwrites excess insurance on an admitted basis through Hudson Insurance Company and on a non-admitted basis through Hudson Excess Insurance Company.

Collectively known as Hudson Insurance Group, its companies are rated A+ (Superior) by A.M. Best, Financial Size Category XV. Hudson Insurance Group is the U.S. Insurance Division of the Odyssey Group, a leading global provider of reinsurance and specialty insurance.  Odyssey Group is a subsidiary of Fairfax Financial Holdings Limited.

Position Summary: The Compliance Analyst will be responsible for coordinating, compiling, submitting and negotiating approval of rate, rule and form filings in support of Hudson’s goals and objectives and in compliance with state regulatory requirements. This necessarily requires working closely with all business units, including the actuarial, legal, and underwriting departments, to complete and facilitate appropriate filings.

Essential Functions:

• Coordinates with business units (Underwriting, Actuarial, Compliance, etc.) to gather the information required for filing submissions.
• Creates deadlines and follows up with the relevant business units (Underwriting, Actuarial, Compliance, etc.) to ensure that Compliance receives a complete package for filing purposes.
• Prepares accurate submissions in order to obtain state approvals.
• Responds to regulatory/compliance issues relating to form, rate, and rule compliance. Works with business units (Underwriting, Actuarial, Compliance, etc.)to prepare responses to objections from state insurance departments.
• Prepares and/or makes necessary revisions to Company manuals and ensures all data contained in manuals is complete, current, and accurate.
• Assists with the review and development of policy forms and endorsements to ensure adherence to state legal and regulatory requirements.
• Monitors ISOnet for any changes to ISO rule, forms, and loss cost for each line of business, taking the necessary action to implement required changes.
• Reviews bulletins and provides guidance to business units (Underwriting, Actuarial, Compliance, etc.) for changes to rates, rules, forms and/or changes in state rules, regulations, and legislation.
• Researches the development and filing of routine forms as required by the various Business Units.
• Reviews policy issuance system outputs and conducts policy audits to ensure compliance with filed forms, rates and rules.

Skills, Knowledge & Abilities:

• Ability to analyze situations, identify potential risks, and draw logical conclusions.
• Identify and address compliance issues effectively.
• Ability to review and analyze data to identify trends and potential compliance concerns.
• Ability to clearly and concisely communicate findings, reports, and recommendations.
• Effectively communicate with colleagues, management, and external parties.
• Strong skills in using relevant software and databases.
• Ability to conduct thorough research on legal and regulatory requirements.
• Meticulousness in reviewing documents and identifying potential issues.
• Ability to manage multiple tasks and projects effectively.

Education/Experience:

• Bachelor’s Degree preferred.
• Previous experience monitoring ISOnet for any changes to ISO rule, forms and loss cost for each line of business and making the filings necessary to implement updates in all states is a plus.
• Previous use of system for electronic rates and forms filing (SERFF) to file policy forms in the states for approval.
• Previous use and knowledge of internet-based NILS or Oden sites to research and obtain statutory and regulatory information preferred.
• Minimum of 2-3 years’ experience in the property and casualty insurance industry preferred.

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