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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 8 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
