Product Counsel – Management Professional Liability

Job Type: Full Time

Location: Downtown - Chicago, IL

Remote Work: Hybrid, minimum 3 days in the office to promote collaboration and interaction with onsite associates.

Fully Remote: Candidates residing outside the Chicago area are required to travel to the Chicago office on a monthly or quarterly basis as needed

Salary Range: $150,000 - $205,000 and possible bonus incentive

Job Overview

The Product Counsel is responsible for managing the Management and Professional Liability Lines of Insurance for Old Republic Professional (ORPRO). This role involves guiding product development, ensuring compliance with applicable laws and regulations, and supporting business objectives. The Product Counsel will also collaborate closely with various teams, including underwriting, marketing, and operations, to develop and maintain specialized insurance products that align with legal and regulatory requirements as well as best practices.

Job Responsibilities 

• Provide expert legal advice on the development, marketing, and implementation of specialty insurance products.
• Initiate and lead technical and conceptual development of management and professional liability insurance forms including D&O, EPL, Fiduciary, Crime, Lawyers E&O, and Financial Institution E&O.
• Provide product related regulatory and compliance support with respect to relevant federal and state laws and regulations.
• Identify and analyze legal, regulatory, and market risks associated with product offerings and recommend strategies to mitigate those risks.
• Review and draft product-related endorsements, confidentiality and non-disclosure agreements, warranty letters and statements, contractual terms and conditions, and policy language to ensure clarity and compliance.
• Develop and deliver training programs for internal stakeholders on new products, compliance, market trends, and legal issues related to specialty lines.
• Work closely with underwriting, claims, and operations to support product launches and enhancements.
• Adhere to ORPRO’s operational guidelines and codes of conduct.

Job Requirements

• Juris Doctor (JD) from an accredited law school.
• Extensive knowledge of private management liability, public company D&O, financial institutions, fidelity-crime, and lawyers E&O lines of business and products.
• 5+ years of experience in-house insurance legal or claims, or combination of in-house and law firm experience.
• Regulatory experience with Department of Insurance examinations, regulatory inquiries, and product filings.
• Ability to work independently as well as collaboratively within a cross-functional team.
• Strong understanding of insurance laws and regulations, compliance issues, and industry standards.
• Outstanding analytical, written, and verbal communication skills.
• The ability to collaborate effectively in a fast-paced, team-oriented environment.
• Exceptional attention to detail and organizational skills.

About Old Republic Professional

Old Republic Professional (ORPRO™), established in December 1983, is a subsidiary of Old Republic International Corporation (NYSE: ORI), one of the nation’s 50 largest share holder owned insurance businesses and a member of the Fortune 500 listing of America’s largest companies. Old Republic Professional has provided Directors and Officers liability insurance and Lawyers Professional liability insurance for more than 40 years and now offers a wide array of management liability and professional liability products across an expanding national footprint in the U.S.

Culture

Work-life balance is highly valued; work culture is collaborative; colleagues are professional, passionate, open-minded, and entrepreneurial. We offer competitive wages, a comprehensive benefits package, a friendly, team-oriented environment, and we encourage and reward the professional growth of our employees. Employee benefits include BCBS medical, FSA/HSA accounts, long-term disability, dental, vision, fertility and family building benefits, Employee Assistance Program, paid time off (PTO), paid holidays, Paid Leave of Absence Benefits, 401(k) Savings and Profit-Sharing Plan, 529 Education Savings Plan, Gym Network 360 membership savings on fitness, nutrition and wellness programs, pet insurance, monthly commuting reimbursement, and tuition reimbursement for qualified job-related educational expenses.

Equal Employment Opportunity

Old Republic Professional provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.

Qualified candidates must submit a resume to

applications@oldrepublicpro.com