Insurance Defense - General Attorney in New York City, NY

In-House

New York City, NY

Insurance Defense - General Attorney in New York City, NY

Attorney

5-7 yrs required

No

Job Title: Sr. Claims Specialist - Financial Institutions

Job Responsibilities:
- Handle and manage a wide variety of Management Liability Claims, including Bankers Professional Liability (BPL), Investment Advisors, Private Equity Errors and Omissions (E&O)/D&O, and Insurance Company Professional Liability (ICPL). Experience with Transactional Liability claims such as Representations and Warranty, Judgment Preservation & Contingent Risk, is considered a plus.
- Investigate, analyze, and evaluate coverage liability and damages while maintaining appropriate documentation and adhering to best practices.
- Provide technical advice, training, and guidance to junior team members and internal business partners as needed.
- Review financial institutions claims to determine the nature of loss, coverage provided, and scope of the claim, guiding strategic direction regarding settlement/disposition of claims.
- Develop and maintain relationships with internal and external partners.
- Escalate coverage issues and recommend outside coverage counsel assignments for approval when warranted.
- Formulate claims and litigation strategies, assign, direct, and manage outside counsel.
- Manage costs, including use of coverage counsel and litigation costs, collaborating with the Litigation Management and Vendor Management teams to ensure cost management and the development and enhancement of panel counsel.
- Foster relationships and communicate extensively with senior executives, brokers, reinsurers, actuaries, underwriters, insureds, and auditors (both external and internal).
- Support underwriting inquiries and information requests, draft, report claim trends, data analysis, and risk assessments.
- Lead and participate in presentations and discussions with Underwriters and Insureds on large losses and claim trends.
- Participate in claim audits and special projects or department initiatives.
- Identify liability and coverage trends and issues with both individual and portfolio impact. Formulate processes and strategies for handling such claims and ensure accurate and consistent claims management across impacted underwriting segments and lines of business.
- Other duties as assigned.

Education and Experience Information:
- Juris Doctorate required, admission to practice is a plus.
- Minimum of 5-7 years of experience handling Management Liability claims.
- Demonstrated ability to work effectively as part of a team, meet deadlines, and perform successfully in a changing and sometimes challenging work environment.
- High exposure/complex claim exposure evaluation skills.
- Demonstrated ability to manage the “flow” associated with FI claims and manage KPIs.
- Excellent negotiation, communication, and interpersonal skills.

Key Skills & Abilities:
- Possess required states’ claims adjusters licenses or ability to obtain such licenses as required within 90-120 days of hiring (preferred states include NY, CA, FL, and/or TX, among others).
- Demonstrated leadership, organizational, and management skills or experience practicing law, as well as claims management (both directly managed and TPA managed claims).
- Demonstrated ability to influence and collaborate at all organizational levels, both internally and externally, and resolve complex, disputed claims.
- Analytical thinker capable of driving results using all facets of the legal and claims processes.
- Understanding of and ability to balance both immediate claim issues and broader portfolio impact and customer service impact of coverage disputes and issues.
- Excellent oral and written communication skills with the ability to deal effectively with people with conflicting expectations, differing opinions, and multiple viewpoints.
- Demonstrated ability and experience handling management liability claims involving a wide variety of loss scenarios, as well as reporting and presenting about the same to senior management.
- In-depth knowledge of claims, litigation, arbitration, and trial processes, as well as excellent analytical, investigative, and negotiating skills.
- Technical knowledge, skills, and training within the field, including complex coverage analysis and experience.
- Financial Institutions knowledge is required.
- Confidence in coverage, evaluation, and reserving.
- Excellent presentation, writing, and editing skills.
- Solid negotiation and settlement skills.
- Supervisory perspective, with experience providing direction and authority to adjusters.
- Familiarity with KPI, Data, and Metrics is a plus.

Salary Information:
The text does not provide specific salary information for this position.