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Reporting to the Surety Division President, this position will serve to establish the Surety Claims department and provide oversight, management, and handling of all Surety Claims.
Key Accountabilities/Deliverables:
Ensure compliance with established claim handling principles regarding coverage, investigation, liability, damages, evaluation, resolution, and recovery.
Establish reserves pursuant to established reserving protocols and reserve authority procedures.
Achieve established subrogation/recovery goals.
Responsible for coaching, developing, and motivating direct reports. Responsibilities include but are not limited to: recruitment and selection; employee appraisals and proactively addressing employee grievance and performance issues. It is important that these duties are carried out in accordance with Company policies and practices and in conjunction with HR.
Act as claims contact for reinsurance placements.
Adhere to company’s Panel Counsel Program and Litigation Guidelines
Engage in rigorous ALAE control and management, by competently selecting, instructing and managing outside counsel, consultants, and 3rd party vendors, as appropriate.
Provide claims underwriting support to underwriters as requested.
Attend mediation, settlement conferences, and trials when required.
Comply with Team and Individual Service Levels and Key Performance Indicator (“KPI”) metrics set by Division President.
Undertake general office administrative duties as and when required.
Proactively expand and maintain awareness of market, industry.
In addition to the above key responsibilities, you may be required to undertake other duties from time to time as the Company may reasonably require.
Technical Knowledge and Understanding:
Possess a comprehensive understanding and knowledge of all aspects of the surety industry.
Possess a comprehensive understanding and knowledge of state and federal laws (including legislation) applicable to Surety claims.
Possess an in-depth understanding of all forms of bond language/coverage applicable to the surety lines of business.
Computer skills – good working knowledge of MS Office, Excel
Previously utilized an electronic claim system.
Experience:
College degree required.
J.D. preferred.
A minimum of 10 years’ experience in the legal or surety profession dealing specifically with surety claims handling and litigation and their management and reporting requirements, and including all aspects of recovery from indemnitors, obligees, and third parties.
Ability to Travel.
Ability to negotiate and be persuasive.
Possess strong communication and leadership skills.
Ability to simplify, analyze and explain complex issues.
Ability to be able to review processes and determine opportunities for improvement.
Ability to work at both an overview and detailed level.
The ability to manage time, manage projects, and meet deadlines.
Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over work authorization sponsorship now or in the future for this position.
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At Core Specialty, you will receive a competitive salary and opportunities for professional development and advancement. We offer medical, dental, vision, and life insurances; short and long-term disability; a Company-match of 100% of a 6% contribution 401(k) plan; an Employee Assistance Plan; Health Savings Account, Flexible Spending Account, Health Reimbursement Account, and a wellness program
Skills Required
- College degree
- J.D.
- Minimum 10 years' experience in legal or surety profession handling surety claims, litigation, and recoveries
- Comprehensive knowledge of surety industry, bond language, and applicable state and federal laws
- Experience establishing reserves and following reserving protocols
- Proven ability to select, instruct, and manage outside counsel, consultants, and vendors (ALAE control)
- Experience with MS Office and Excel
- Previous use of an electronic claim system
- Demonstrated leadership, coaching, recruitment, and performance management skills
- Ability to negotiate, persuade, analyze complex issues, and provide underwriting support
- Ability to travel when required
- Authorized to work for any employer in the U.S.; employer will not sponsor visas
What We Do
Core Specialty, through its subsidiary insurers, offers a diversified range of property, casualty, and marine insurance products for small to mid-sized businesses. We have the capital to take on risk, the underwriting talent in place, decisive leadership team, infrastructure, and a proven track record of making things happen – fast! When you’re ready to solve your toughest insurance needs, we’re ready to get it done for you. We free customers up to focus on their business by taking the load of complicated specialty insurance off their hands. We break down the walls of bureaucracy to provide optimal underwriting solutions for brokers. We’re ready, equipped, and motivated to get the job done, efficiently and professionally, by empowering experts with what they need to move quickly on behalf of customers and their brokers. Our specialty focus is the essential part of our identity. It is at our core
