Claim Consultant (Specialty)-Financial Lines -EPL at CNA
Claim Consultant-Financial Lines
We are currently seeking a claim professional to join our Financial Lines claim team to handle both large public and private company EPL & Fiduciary claims as well as private company & Not for Profit D&O claims. The ideal candidate will be an attorney with 5 plus years of experience working in a law firm or for an insurance carrier handling claims related to professional and management liability. The ability to proactively manage a diverse pending is a must. These claims are highly complex in nature and can be valued in the multi-million-dollar range. Insurance litigation and/or coverage interpretation/analysis experience is required.
We seek an individual who has attended mediations and been involved in negotiating settlements involving insurance claims. The average caseload for this claim professional will be approximately 135-150 files.
Individual contributor responsible for the overall management of highly complex claims in EPL as well as Fiduciary and D&O. Recognized as a technical expert in the interpretation of complex or unusual policy coverages. Under general management direction, works within assigned limits of broad authority on assignments requiring a high degree of technical complexity and coordination. Will need to be able to review coverage and make coverage determinations, determine liability and damage exposure, negotiate and settle claims.
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
1. Manages highly complex litigated matters, including analysis of complex coverage issues, liability and damages. Strong coverage acumen required in respect of a variety of policy forms, involving multiple coverages and coverage parts. Analyzes coverage issues, prepares coverage positions, and formulates claim strategy.
2. Independently assesses liability and damages based on investigation. Determines if a claim should be settled or litigated and formulates and executes on appropriate resolution/litigation strategy accordingly. Ability to handle high severity matters including class actions and complex corporate litigation, including securities litigation.
3. Manages outside counsel on litigated matters/claims to achieve optimal claim resolution. Effectively manages loss costs and claim expenses. Works with attorneys, account representatives, agents, and insureds regarding the handling and/or disposition of highly complex claims.
4. Directly negotiates and resolves cases where appropriate and within scope of authority. Participates in mediations and settlement conferences to resolve files and attends trials when necessary. Ensures timely issuance of disbursements.
5. Makes recommendations on claims processes and resolution strategies to management. Demonstrates strong verbal communication and writing skills. Prepares reports and presents claims to senior management and internal business partners.
6. Effectively communicates key claim information such as coverage positions, resolution plans, and exposures with insureds, brokers, actuaries, and underwriters. Strong soft skills and ability to influence key parties.
7. Keeps current on state/territory regulations and issues, industry activity and trends.
May perform additional duties as assigned.
Manager or above.
Skills, Knowledge & Abilities
1. Advanced technical and product specific expertise, claims resolution skills and knowledge of insurance and claims principles, practices and procedures. This position requires demonstrated ability to handle litigated matters, including formulation and execution of resolution strategies and strategic coordination with counsel, insureds, brokers and other insurers under reimbursement policies.
2. Strong communication, negotiation and presentation skills. Ability to effectively interact with all levels of CNA's internal and external business partners.
3. Advanced analytical and problem solving skills, with the ability to manage and prioritize multiple projects.
4. Ability to think strategically.
5. Creativity in resolving unique and challenging business problems.
6. Knowledge of Microsoft Office Suite and other business-related software.
7. Ability to adapt to change and value diverse opinions and ideas.
8. Ability to manage and prioritize multiple projects.
9. Ability to evaluate claims based on a cost benefit analysis.
10. Ability to implement strategies with a proactive long-term view of business goals and objectives.
Education & Experience
1.Bachelor's degree, Master's degree or equivalent experience. J.D. preferred.
2. Typically a minimum five years relevant claims experience in professional liability and management liability or five plus years in a law firm handling professional liability and management liability claims.