Director - Insurance

Position Summary:

The Director of Insurance is responsible for leading the end-to-end procurement, renewal, and placement of all corporate insurance policies across a broad portfolio. This role ensures insurance coverage aligns with the organization’s risk tolerance, exposure levels, and evolving business needs. The Director leads regular coverage audits, manages policy budgets and accruals, and oversees invoice processing. Additionally, this role maintains compliance with insurance regulations, manages the issuance of certificates of insurance for various stakeholders and operations and serves as an internal subject matter expert for insurance-related matters and escalations across the enterprise. 

Major Responsibilities:

Policy procurement and management: Lead end to end procurement, renewal and placement of property and casualty insurance policies. This responsibility includes both domestic and international programs. Responsible for ensuring coverage aligns with organizational risk tolerance and exposure levels.

Coverage adequacy & risk alignment: Lead internal and external audits in collaboration with internal stakeholders and brokers to ensure policies reflect evolving business needs, known exposures and usage, and external landscape changes.

Compliance & regulatory oversight: Maintain accurate and up to date insurance records, certificates and policy schedules. Maintain awareness of insurance compliance trends and any updates that may impact policy language or placement. Responsible for customer compliance with rental and lease contract requirements.  

Internal consultation: Act as a subject matter expert for insurance-related questions and needs across the enterprise. Responsible for escalation matrix and engage in deal escalations, as needed.

Financial Impact

Oversee budget for insurance field level insurance accruals. Work closely with claims, TPA, and accounting on overall insurance reserves. Responsible for monthly reporting to senior management on claims costs and trends.  Identify costs/ benefits of insurable vs. retained risks.  

Systems

Responsible for efficient management of department systems, ensuring system is supportive of streamlining processes and automation

Other projects and tasks as assigned.

About Penske Truck Leasing/Transportation Solutions

Penske Truck Leasing/Transportation Solutions is a premier global transportation provider that delivers essential and innovative transportation, logistics and technology services to help companies and people move forward. With headquarters in Reading, PA, Penske and its associates are driven by a dedication to excellence and a commitment to customer success. Visit Go Penske to learn more.