Assistant Vice President, Professional Liability Claims

Ascot Group•New York, NY

5d•$150,000 - $165,000•Hybrid

About The Position

Ascot Group is seeking a professional liability claims professional to join its Financial Lines Claims team. The role is described in the position overview as Senior Claims Counsel, Professional Liability. The successful candidate investigates, analyzes, evaluates, and resolves claims and claim litigation, provides strong customer service, optimizes claim outcomes, advises internal business partners as needed, and participates in Financial Lines Claims strategic initiatives. The position involves working with AI-enabled tools and applying sound judgment to their insights as technology evolves. The role manages primary and excess Lawyers, Real Estate, and Miscellaneous Professional Liability claims, including analyzing loss notices, preparing coverage correspondence, appointing and managing counsel, setting reserves, negotiating and resolving claims, and maintaining claim files. It also involves collaborating with underwriting and other business partners, monitoring professional liability trends and marketplace conditions, researching relevant law, and preparing materials for claims and underwriting colleagues. Travel is required for mediations, conferences, trials, depositions, and marketing efforts. The position may be filled at a different level depending on experience. The annualized base pay range is $150,000–$165,000; actual pay may vary. The company states that other rewards may include an annual cash bonus and other discretionary compensation. Ascot describes its culture as collaborative, inclusive, and entrepreneurial, guided by its One Ascot mission and The Ascot Way.

Requirements

J.D. or related field of study.
At least 6 years of relevant legal or claim-handling work experience; professional liability claims experience at an insurance carrier or in private practice is preferred.
Ability to work through conflict effectively and resolve issues with a professional demeanor.
Ability to make sound decisions and negotiate terms and conditions within a designated authority limit.
Time-management skills and ability to manage multiple priorities with attention to detail in a fast-paced environment, prioritizing projects and assignments for multiple internal clients.
Strong verbal and written communication skills, including the ability to clearly articulate coverage determinations.
Ability to build and maintain effective, collaborative relationships with colleagues, customers, and business partners.
Self-starter able to work independently.
Strong knowledge of Microsoft Office products and claims system skills.
Ability to obtain and maintain required adjusters’ licenses.

Nice To Haves

Experience handling professional liability claims at an insurance carrier or in private practice.
Relevant legal or claims experience beyond the stated minimum, depending on the level at which the position is filled.

Responsibilities

Manage a caseload of primary and excess Lawyers, Real Estate, and Miscellaneous Professional Liability claims of varying severity with moderate supervision.
Analyze loss notices, draft coverage correspondence, appoint and manage counsel, establish reserves, negotiate and resolve claims, and maintain comprehensive claims files.
Prepare and present reports on loss development, potential and actual financial exposure, reserve adjustments, coverage issues, claim strategies, and recovery strategies.
Collaborate with underwriting on significant claim exposures.
Work with internal and external business partners, including retail and wholesale brokers, insureds, and insureds’ counsel, to resolve claims.
Maintain knowledge of professional liability trends and provide feedback to claims and underwriting teams.
Monitor marketplace conditions, conduct research, and draft reference materials about law affecting Ascot’s underwriting and claim decisions.
Obtain and maintain required adjusters’ licenses.
Travel to attend mediations, industry conferences, settlement and claim conferences, trials, and depositions, and assist with Ascot’s marketing efforts.
Embody The Ascot Way by fostering colleague engagement and development, collaboration, inclusivity, and individual accountability.
Work confidently alongside AI-enabled tools, use sound judgment when interpreting insights, and adapt as technology evolves.

Benefits

Medical insurance, including prescription coverage.
Dental insurance.
Vision insurance.
Health Savings Account.
Commuter Account.
Health Care and Dependent Care Flexible Spending Accounts.
Life insurance and AD&D.
Work/Life Resources, including an Employee Assistance Program.
Paid holidays.
Annual Paid Time Off, including paid state/local leave where required.
Short-term disability and long-term disability.
Other leave, including bereavement, FMLA, adoption, maternity, military, and primary and non-primary caregiver leave.
Contributory 401(k) savings plan.
Potential annual cash bonus and other discretionary compensation.