Senior Claims Consultant - Private D&O

Berkley•Chicago, IL

4d•Hybrid

About The Position

The Senior Claims Consultant - Private D&O role is responsible for the handling, oversight, and overall direction of complex management and professional liability claims for private company clients. This position will directly handle complex claims involving private company and not-for-profit directors and officers liability (D&O). The role involves managing complex investigations, identifying insurance coverage issues, liability, compensability, and damages. It may also involve coverage litigation if the candidate possesses that skillset. The position requires determining whether a claim should be settled or litigated and implementing an appropriate resolution strategy, while effectively managing loss costs and claim expenses. The role also includes managing all types of investigative activity or litigation, posting appropriate reserves, coordinating discovery and litigation strategy with various legal counsel, and negotiating complex settlement packages. Recommendations on claims processes and resolution strategies are made to management, along with drafting large loss reports and presenting claims to management, internal business partners, and clients. Collaboration with attorneys, account representatives, agents, and insureds is also a key part of the role.

Requirements

Bachelor's degree required.
At least eight years' professional liability claims experience.
Advanced technical and product specific expertise, claims resolution skill and knowledge of insurance claims principles, practices and procedures.
Strong background in fully comprehending complex claim facts and issues, implementing strategies with a proactive long-term view of business goals and objectives and evaluating claims based on a cost benefit analysis.
Creativity in resolving unique and challenging business problems.
Prioritization and organization of multiple projects.
Effectively manage ambiguous situations, issues and adapt to change.
Strong written, communication and presentation skills.
Strong knowledge of state, federal and local laws and regulations, business corporation laws and litigation.
Strong knowledge of insurance coverage laws and principles, including state claim handling regulations and requirements.
Strong skills needed in communications, negotiation and presentation skills.
Advanced analytical and problem-solving skills.
Strong interpersonal and team participation skills.
Technical expertise in the interpretation of complex claims-made and reported policy coverages.
Regular and predictable attendance is required.
Employees must be able to adhere to a consistent work schedule as determined by management.
Maintains punctuality to ensure operational effectiveness and to meet the needs of our clients.
Collaborate with team members and participate in scheduled meetings and events.

Nice To Haves

Juris Doctor preferred
Preferred background in D&O claims and/or other professional liability lines or insurance coverage litigation.

Responsibilities

Manages complex investigations of D&O claims, including identifying insurance coverage issues, liability, compensability and damages.
May be involved in coverage litigation against and initiated by the company, if the candidate has this skillset.
Determines if a claim should be settled or litigated and implements an appropriate resolution strategy accordingly.
Effectively manages loss costs and claim expenses.
Manages all types of investigative activity or litigation on claims, including the posting of appropriate reserves in a timely manner.
Coordinates discovery and litigation strategy with panel attorneys, counsel retained by the insured, and/or coverage counsel.
Negotiates complex settlement packages through mediations and alternative dispute resolution mechanisms.
Makes recommendations on claims processes and resolution strategies to management.
Drafts concise and well written large loss reports for reporting to senior management.
Prepares and presents claims to management and other internal business partners and clients.
Works with attorneys, account representatives, agents, and insureds regarding the handling and/or disposition of highly complex claims.