Surety Claims Consultant - (Hybrid) Job at Intact Insurance Specialty Solutions
We currently have an opportunity for a Claim Consultant to join our Surety Claims team working in a hybrid capacity in one of our office locations in NYC, Philadelphia, Atlanta, Denver, Chicago, Detroit or Plymouth, MN. This position is responsible for investigating, evaluating, handling, and resolving complex, highly specialized Surety claims. Independently operates within very broad company guidelines and highest authority levels in the settlement of claims and effects all decisions either directly with claimants and their counsel or by providing direction to retained counsel. Reviews and processes highly complex large loss claims or specialized Contract Surety claims that generally settle over $500,000 or involve particularly complex coverage or litigation issues, frequently with multiple defendants and insurers. Collaborates with Sr. Management and others regarding strategy and exposure analysis of assigned claims as well as with respect to broader claims trends.
Responsibilities:
Requirements:
Education and Experience:
New York City salary range: $130,000 - $153,000
Responsibilities:
- Makes timely and appropriate contacts and completes appropriate level of investigation to make determination of coverage, liability and damages for the most complex and specialized Surety claims.
- Attend meetings and court proceedings in person as necessary
- Determines coverage, drafts coverage position, responds to coverage questions raised by insureds and others.
- Determines exposure, establishes adequate reserves and makes timely adjustments as required.
- Selects, assigns and directs activities of internal and external resources as required; including both outside counsel and consultants. Identifies questionable claims and consults with SIU as appropriate.
- Determines settlement value of the loss and negotiates proper settlement of highly complex claims within authority. Provides recommendations for settlement and disposition of claims exceeding authority level and after consultation, negotiates resolution of claims beyond authority.
- Identifies matters that need to the attention of claims leadership and/or legal because they present large exposure, the potential for extra contractual exposure or present other concerns warranting elevation.
- Documents clearly and concisely all relevant activity on assigned files and makes recommendations for additional activity as appropriate.
- Communicates as needed with underwriting business partners regarding claims trends and legal climate. Provides expertise and insight as requested relative to needed coverage changes or enhancements. Performs research and analysis with regard to claims issues that implicate particular business lines or segments.
- Maintains a strong professional knowledge of regulatory and legal environments and applies this information effectively.
- Stays abreast of state license requirements and participates in continuing education as required. Will coach or train less experienced claim representatives. Develops and leads technical training and provides guidance to other departments within the organization, as needed.
Requirements:
- Availability and flexibility for business travel
- Must possess high level skills and extensive Surety claims technical knowledge including products and industry.
- Must have superior analytical, negotiation, decision making, problem solving, organizational and presentation skills.
- Must be a proven self-starter with excellent multi-tasking and relationship management skills.
- Must be able to communicate professionally and effectively including expert oral, written and listening skills.
- Must be able to work both independently and as a member of a team and have the ability to interact with diverse groups of individuals.
- Must maintain a high level of accuracy, and provide follow-through on projects.
- Requires the ability to maintain confidential information. Must be able to work in a fast pace and rapidly changing environment.
- Demonstrated proficiency with computer software including Microsoft Office suite and other Claims tracking tools.
- Must maintain strong professional knowledge of industry trends, legislative issues and the marketplace for specialty insurance.
- Must be able to act as coach and mentor junior members of the department.
Education and Experience:
- Bachelor’s degree required, JD preferred
- 7+ years contract Surety claim experience
New York City salary range: $130,000 - $153,000
Job Number
2146BR
Division
Intact Surety Group
Location
New York City NY
Location(s)
Atlanta GA, Blue Bell PA, Chicago IL, New York City NY, Plymouth MN, Southfield MI
Country
United States
About Us
At Intact Insurance Specialty Solutions we are experts at what we do. Our deep understanding of the specialty insurance market is the foundation for our customized solutions, backed by targeted risk control and claims services. Our employees are passionate about providing insurance coverage that’s aligned to our targeted customer groups. Today, we help protect over a dozen industries with tailored coverages and services.
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