Premium Payables Specialist

About HUB International Limited

HUB International Limited ("HUB") is the 7th largest global insurance and employee benefits broker, providing a broad array of property, casualty, risk management, life and health, employee benefits, investment and wealth management products and services. With over 10,000 employees in 450 offices throughout North America, HUB has grown substantially, in part due to our industry leading success in Mergers and Acquisitions, HUB is dedicated to helping individuals and businesses evaluate and manage their risks and insurance needs.

About the Position

This position reports to the Manager of Premium Accounting, and functions as part of a team. The team is responsible for the Premium Payables and Broker Commission Payables process for the Property & Casualty, Benefits and Wholesale business in various Broker Management systems, G/L systems and any additionally acquired systems. The Premium Payables Specialist is responsible for ensuring premiums are remitted to the carriers according to carrier market terms and ensuring broker commissions are paid to external brokers in accordance with company policies.

Essential Duties and Responsibilities:

  • Function as the primary contact with assigned insurance markets
  • Focus on expedient resolution of billing discrepancies and obtain missing carrier invoices/statements from insurance carriers and wholesalers, in order to achieve three-way match status and timely disbursement
  • Prepare reconciliations in the Broker Management System in conjunction with invoices and/or statements received from markets in accordance with payment terms
  • In conjunction with the Manager of Premium Accounting, review daily disbursement packages for completeness and accuracy
  • Monitor timely resolution of billing discrepancies, in order to achieve a three-way match status on or before payment due date
  • Process return premium requests to clients and premium finance companies
  • Assist team members in handling complex items in a timely pro-active manner that ensures compliance with procedures and guidelines
  • Prepare analysis of aged open payables on a periodic basis
  • Analyze, research and resolve complex problems
  • Support and implement process efficiencies
  • Build and maintain positive working relationships with client service operations team and markets
  • Provide training and mentorship to other team members
  • Contribute to a cooperative team environment in which cross functions are assumed as necessary in order to meet department deadlines and goals
  • Other duties as assigned

Required Experience:

  • Requires at least 2 years' experience in accounting field
  • Experience in a shared services accounting environment preferred
  • Insurance Brokerage Experience preferred
  • Must have excellent written and verbal communication skills

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