Job Title: Claims Specialist - Management Liability
Job Responsibilities:
The Claims Specialist in Management Liability at the company is responsible for handling and managing a diverse range of Management Liability Claims under limited supervision. This includes Public Directors & Officers (D&O), Private D&O, Bankers Professional Liability (BPL), Investment Advisors, Private Equity, and Insurance Company Professional Liability (ICPL). While experience with Transactional Liability claims such as Representations and Warranties, Judgment Preservation & Contingent Risk is advantageous, the role requires a thorough investigation, analysis, and evaluation of coverage, liability, and damages while maintaining appropriate documentation. The Claims Specialist reviews Management Liability claims to ascertain the nature of the loss, the coverage provided, and the scope of the claim to guide strategic decisions regarding the settlement and disposition of claims.
The specialist is tasked with developing and maintaining relationships with both internal and external partners, escalating coverage issues, and recommending outside coverage counsel assignments for approval when necessary. They must formulate claims and litigation strategies, assign, direct, and manage outside counsel, and evaluate a full pending of claims in connection with posting and maintaining accurate reserves.
Cost management is a critical aspect of this role, including managing coverage counsel and litigation costs and collaborating with the Litigation Management and Vendor Management teams to ensure cost management and enhancement of panel counsel. The specialist is expected to maintain and develop relationships with senior executives, brokers, reinsurers, actuaries, underwriters, insureds, and auditors, both external and internal. Furthermore, the role involves supporting underwriting inquiries, drafting reports on claim trends, performing data analysis, and conducting risk assessments.
The Claims Specialist leads and participates in presentations and discussions with Underwriters and Insureds on large losses and claim trends and participates in claim audits. They are also involved in special projects and department initiatives and perform other duties as assigned.
Education and Experience Information:
The preferred educational qualification for this position is a Juris Doctorate, with admission to practice being a plus. A minimum of 5 years of experience handling Management Liability claims is required. The candidate must possess the required state claims adjuster licenses or have the ability to obtain them within 90 days of hiring. The role demands a demonstrated ability to work effectively as part of a team and meet deadlines. Experience with Key Performance Indicators (KPIs) and the flow associated with Management Liability claims is essential. Proficiency in Excel and experience with Power BI is considered a plus.
Key Skills & Abilities:
The candidate should be comfortable evaluating high exposure and complex claims. They must possess excellent oral and written communication skills, with the ability to effectively engage with a wide range of stakeholders. Experience presenting to senior management and outside partners is necessary. The role requires knowledge of claims and litigation management, dispute resolution processes, and trials and appeals. The candidate must possess excellent analytical, investigative, and negotiating skills. Travel is associated with this role for off-site meetings, court proceedings, and mediations.
Salary Information:
The text does not provide specific salary information for the Claims Specialist - Management Liability position.
