Accounting Co-Op (Fall 2025)

National Interstate is a member of Great American Insurance Group. As one of the leading commercial transportation insurers in the nation, we offer risk financing solutions in all 50 states tailored to meet the needs of a wide variety of transportation classes. Our offerings include traditional insurance and innovative alternative risk transfer (ART) programs, including more than a dozen group captive programs catering to niche wheels markets. We are proud to be a multiple Northcoast 99 winner and Cleveland Plain Dealer Top Workplace in Northeast Ohio. It is because of our talented and dedicated team that we are able to live out our company values of integrity, transparency, fairness, accountability, empowerment and collaboration with each transaction we make. If you are ready to join an engaging and driven team such as ours, we would love to hear from you!

A leader in commercial insurance since 1989, National Interstate Insurance Company offers an array of insurance products tailored to commercial transportation, and adjacent industry, operators in every state. Our steadfast focus on developing creative programs designed to give our insureds a competitive edge, coupled with claims and loss control experts who understand the niches we serve, make National Interstate one of the most respected names in commercial transportation insurance today. (https://natl.com/)

National Interstate's full-time accounting co-op, starting in fall 2025 at our Richfield, Ohio office, will become a crucial part of our finance team. The rotational program provides experience in multiple financial areas, with students working in new teams for each co-op rotation that could include Loss, Reinsurance, General/Statutory Accounting, or Financial Planning and Analysis.

Loss Accounting

• Maintain loss and loss adjustment expense reserve calculations based on actuarial models and historical claim data and analyze such calculations to ensure our reserve position is accurately presented in the financials.
• Assist in the preparation of standard monthly reports and ad-hoc analyses of the loss ratio for senior management.
• Collaborate with claims adjusters, underwriters, actuaries and other finance personnel to identify and resolve discrepancies in financial records and claims data.
• Support the department by providing complete and accurate accounting information such as footnote schedules, regulatory reports and other key management reports.

Reinsurance Accounting

• Perform technical accounting duties, such as the recording of premiums and claims transactions, related to month and quarter-end close activities.
• Reconcile reinsurance balances with the respective participants on various treaties and facultative reinsurance placements.
• Prepare reinsurance billings and payments for premiums, commissions and claims, working closely with our reinsurance brokers and reinsurers on various treaties and facultative reinsurance placements. Monitor and assist with resolving aged reinsurance receivables.
• Complete semi-annual financial statements for each of our alternative risk transfer rental captive products, which are shared with product management and insureds.
• Validate and analyze reinsurance system data, including recalculations of reinsurance applied to large claims.

General and Statutory Accounting

• Prepare schedules to support the monthly consolidated financial statements.
• Assist with prepaid assets, fixed assets, other assets, and other liabilities, including recording applicable journal entries and account reconciliations.
• Learn the statutory reporting process and support the preparation of the quarterly and annual statutory financial statements and filings.
• Help facilitate the filing of sales and use tax, and excise tax returns.

Financial Planning and Analysis

• Engage in the annual planning and quarterly forecasting processes, including preparing analysis and schedules, proofreading documents for accuracy, and collaborating with other departments to collect information and data.
• Conduct a monthly analysis of premium and expense data to support the reporting of financial statement fluctuations and the identification of key drivers of operating results to management.
• Assist in the preparation of additional analysis requested by management for use in modeling, presentations, meetings, and other monthly or quarterly reports.
• Assist with cash flow management by analyzing daily cash positions and forecasting future cash flows, ensuring sufficient operating liquidity.

Company:

NIIC National Interstate Insurance Company

Benefits:

Compensation varies by role, position level, and location. Individual pay is influenced by skills, education, training, certifications, experience, and the role's scope and complexity, along with business needs.

We offer a competitive Total Rewards package, including medical, dental, and vision plans starting on day one, PTO, paid holidays, commuter benefits, an employee stock purchase plan, education reimbursement, paid parental leave/adoption assistance, and a 401(k) plan with company match. These benefits are available to eligible full-time and part-time employees.

Your recruiter can provide more details about our total rewards and specific compensation ranges during the hiring process.