Job Title: Claims Specialist - Management Liability
Job Responsibilities:
The Claims Specialist for Management Liability at the company will be responsible for managing a diverse range of Management Liability Claims under limited supervision. This includes claims related to Public Directors & Officers (D&O), Private D&O, Bankers Professional Liability (BPL), Investment Advisors, Private Equity, and Insurance Company Professional Liability (ICPL). An understanding of Transactional Liability claims, such as Representations and Warranties, Judgment Preservation, and Contingent Risk, is advantageous.
Key responsibilities include:
- Investigating, analyzing, and evaluating coverage, liability, and damages while adhering to best practices and maintaining appropriate documentation.
- Reviewing Management Liability claims to determine the nature of the loss, the coverage provided, and the scope of the claim, as well as guiding strategic decisions regarding the settlement or disposition of claims.
- Developing and maintaining relationships with both internal and external partners.
- Escalating coverage issues and recommending outside coverage counsel assignments for approval when necessary.
- Formulating claims and litigation strategies, assigning, directing, and managing outside counsel.
- Evaluating the full range of claims in connection with the posting and maintaining of accurate reserves.
- Managing costs, including those related to coverage counsel and litigation, and collaborating with the Litigation Management and Vendor Management teams to ensure cost management and the development of panel counsel.
- Maintaining and developing relationships with senior executives, brokers, reinsurers, actuaries, underwriters, insureds, and auditors.
- Supporting underwriting inquiries and information requests, and drafting reports on claim trends, data analysis, and risk assessments.
- Leading and participating in presentations and discussions with Underwriters and Insureds on large losses and claim trends.
- Participating in claim audits.
- Engaging in special projects and department initiatives.
- Performing other duties as assigned.
Education and Experience Information:
- A Juris Doctorate is preferred, and admission to practice law is an advantage.
- A minimum of 5 years of experience handling Management Liability claims is required.
- Candidates must have the required state claims adjuster licenses or the ability to obtain them within 90 days of hiring.
- Demonstrated ability to work effectively as part of a team and meet deadlines is essential.
- Experience with Key Performance Indicators (KPIs) and the workflow associated with Management Liability claims is important. Proficiency in Excel and familiarity with Power BI is considered a plus.
Key Skills & Abilities:
- Comfort with evaluating high exposure and complex claims.
- Excellent oral and written communication skills, with the ability to effectively interact with a wide range of stakeholders.
- Experience in presenting to senior management and external partners.
- Knowledge of claims and litigation management, dispute resolution processes, trials, and appeals, combined with strong analytical, investigative, and negotiating skills.
- The role involves travel associated with off-site meetings, court proceedings, and mediations.
Salary Information:
The text does not provide specific salary information for the Claims Specialist - Management Liability position.
