Claims Specialist (Surety)

CNA Insurance • Chicago, IL

17d • $54,000 - $103,000

About The Position

You have a clear vision of where your career can go. And we have the leadership to help you get there. At CNA, we strive to create a culture in which people know they matter and are part of something important, ensuring the abilities of all employees are used to their fullest potential. A Surety Claims role, and under technical direction, investigates and maintains commercial surety bond claims. Works within specific limits of authority on assignments of significant technical complexity matters. Utilizing claims policies and guidelines, reviews bond coverages, determines liability and compensability, secures documentation and information, and negotiates and settles claims.

Requirements

• Solid knowledge of claims and insurance industry theory and practices, surety knowledge a plus.
• Demonstrated technical expertise and product specific knowledge.
• Strong interpersonal, communication, negotiation and writing skills. Ability to present clear, well-written responses to claimants and principals. Ability to effectively interact with all levels of CNA's internal and external business partners.
• Ability to work independently, managing time and resources to accomplish multiple tasks and meet deadlines.
• Strong analytical and problem solving skills enabling viable alternative solutions.
• Ability to exercise independent judgement and make critical business decisions effectively assessing the merits of claims as well as evaluating claims based on a cost benefit analysis.
• Solid knowledge of Microsoft Office Suite as well as other business-related software.
• Ability to adapt to change and value diverse opinions and ideas.
• Ability to fully comprehend claim information; and to further articulate analyses of claims in internal reports.
• Ability to handle claims with a proactive long-term view of business goals and objectives.
• Bachelor's degree or equivalent experience.
• Typically a minimum three to five years claims experience.

Nice To Haves

• Professional designations preferred.

Responsibilities

• Interprets commercial surety bond coverages and determines if coverages apply to claims submitted, escalating issues as needed.
• Sets activities, reserves and authorizes payments within scope of authority.
• Ensures issuance of disbursements while managing loss costs and expenses.
• Coordinates and performs investigations and evaluates claims and lawsuits through contact with principals, claimants, attorneys and state licensing boards.
• Seeks early resolution opportunities.
• Identifies files that have potential fraud and refers to SIU.
• Retains attorneys to represent the surety in lawsuits and provides guidelines for the attorneys to follow.
• Partners with attorneys to develop a focused strategy for timely and cost-effective resolutions of more complex claims, especially if in litigation.
• Utilizes problem-solving and negotiation skills to analyze and determine coverage under the bond.
• Prepares and presents reports for management, as necessary.
• May be responsible for special projects and presentations.
• Identifies claims with salvage recovery potential and assigns files to the subrogation/salvage team to recover paid losses and/or expenses.
• Responsible for input of data that accurately reflects claim circumstances and other information important to our business outcomes.
• May provide guidance and assistance to other claims staff and functional areas.
• Obtain and maintain required claims analyst state insurance licenses.
• Keeps current on state/territory regulations and issues as well as industry activity and trends.

Benefits

• CNA offers a comprehensive and competitive benefits package to help our employees – and their family members – achieve their physical, financial, emotional and social wellbeing goals. For a detailed look at CNA’s benefits, please visit cnabenefits.com.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees