Claim Specialist (Financial Institutions) 

We are currently seeking a claim professional for our Financial Institutions claim group. The qualified candidate will be an attorney with two plus years of experience handling professional and management liability claims involving banks, insurance companies and/or asset managers. These claims can be highly complex in nature and valued in the multi-million dollar range. Insurance litigation and coverage interpretation/analysis experience is preferred. 

We prefer an individual who has attended mediations or who has been involved in negotiating settlements involving insurance claims. The average caseload for this claim professional will be approximately 160 files.

Job Summary: Under technical direction, investigates and maintains professional and management liability claims.  Works within specific limits of authority on assignments requiring significant technical complexity and coordination.  Utilizing claim policies and guidelines, reviews coverages, determines liability and compensability, secures information, and negotiates and settles claims. 

Essential Duties & Responsibilities

Performs a combination of duties in accordance with departmental guidelines:

1. Interprets more complex or unusual policy coverages and determines if coverages apply to claims submitted, escalating issues as needed.

2. Prepares timely and thorough coverage analysis and may occasionally assign counsel on an insured’s behalf.

3. Recommends appropriate reserves and attempts to effectively settle claims in most cost effective manner and ensuring timely issuance of disbursements.

4. Coordinates and performs investigations and evaluates claims and suits through contact with insureds, brokers, other insurance carriers and defense counsel. 

5. Utilizes negotiation skills to develop complex settlement packages or suggest resolution strategies.

6. Works with defense counsel, underwriters, brokers, and insureds regarding the handling and/or disposition of complex claims.

7. Analyzes claims activities and prepares and presents reports for management. May be responsible for special projects and presentations.

8. Keeps current on state/territory regulations and issues as well as industry activity and trends.

May perform additional duties as assigned.

Reporting Relationship

Manager or Director

Skills, Knowledge & Abilities

1. Solid knowledge of claims and insurance industry theory and practices.

2. Demonstrated technical expertise and product specific knowledge.

3. Strong interpersonal, communication and negotiation skills. Must have the ability to effectively interact with all levels of CNA's internal and external business partners.

4. Ability to work independently, managing time and resources to accomplish multiple tasks and meet deadlines.

5. Strong analytical and problem solving skills enabling viable alternative solutions.

6. Ability to exercise independent judgment and make critical business decisions effectively assessing the merits of claims as well as evaluating claims based on a cost benefit analysis.

7. Solid knowledge of Microsoft Office Suite as well as other business-related software.

8. Ability to adapt to change and value diverse opinions and ideas.

9. Ability to fully comprehend claim information; and to further articulate analyses of claims in internal reports.

10. Ability to handle claims with a proactive long-term view of business goals and objectives.

11. Solid knowledge of Microsoft Office Suite as well as other business-related software.

Education & Experience

1. Juris Doctorate strongly preferred.  Professional designations preferred.

2. Typically a minimum two to five years claims experience in professional liability or management liability.