Job Details

Claims senior Specialist Surety Bondcommercial Contract

Company name

Crum and Forster Insurance Company

Organization Type

In-House

Job Type

Attorney

Date Last Verified

May 24,2019

Valid Through

Sep 06,2019

Posted on

Mar 19,2019

Years of Experience

Min 3 yrs required

Location

Morristown, NJ, United States

Employment Type

Full-time

Industry

Legal
Practice Area
Insurance Defense >> Insurance Defense
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Claims -Senior Specialist, Surety Bond-Commercial and Contract Claims
The candidate will manage an assigned pending of various types of contract and commercial surety bond claims. Will work closely with the bond underwriting division to assist underwriters on taking appropriate action on the bonded programs, and will operate under appropriate levels of supervision and within established authority. The position will report directly to the assigned Manager. Adjust contract and commercial surety bond claims by receiving claim assignments, communicating with claimants and principals, investigating claims, analyzing documentation, understanding coverage under the bonds, evaluating exposure, setting reserves, making payments, and asserting indemnification rights. Evaluate the appropriate method and extent of investigation for each claim. Review underwriting files and bond and indemnity agreements. Communicate promptly to claimants and bonded principal/indemnitors. Analyze claim, verify applicability of coverage, and evaluate exposure on a variety of bond types in various jurisdictions. Draft appropriate position letters to claimants and/or principal and indemnitors, when necessary. Work with principals and indemnitors to promptly resolve claims under their duty to indemnify the Surety and make formal indemnification demands on principals and indemnitors, when necessary. Manage litigated claims toward a prompt and reasonable resolution. Appropriately manage, direct and budget outside counsel and consultants. Consult with management at all levels of the claims department to strategize and make recommendations where assistance and consultation is needed on claims exceeding assigned authority. Prepare reports, document claim files, review and manage outstanding files, as assigned, for adequacy and timeliness of investigation, evaluation and reserving, and maintain a timely diary for each assigned claim. Assess recovery potential and collaborate with outside recovery firms to coordinate salvage. Provide superior customer service to policyholders and external vendors and agents during entirety of the claims handling process. Complete special projects and tasks, as assigned.

Qualification and Experience

The candidate Should have College degree and a designation and/or insurance related courses (Juris Doctorate degree a plus). Should have 3 years claims handling experience (preferably handling surety claims). Must have excellent verbal and written communication skills and the ability to interact with claimants, principals, underwriters, attorneys, consultants, and all levels of management are essential. Should have Solid time management skills to prioritize and manage workload and time sensitive issues regarding coverage, liability, damage evaluations, and timely resolutions.

Company info

Hiring Coordinator
Crum and Forster Insurance Company
305 Madison Avenue
PO Box 1973
Morristown, NJ 07962

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