Senior Claims Specialist, Financial Lines Professional Liability

Liberty Mutual Insurance•New York, NY

19h•Hybrid

About The Position

Liberty Mutual has an immediate opening for a Senior Claims Specialist, Financial Lines Management Liability position. In this role, with minimal supervision, the Senior Claims Specialist, Financial Lines Management Liability handles a book of Private Company and Not-For-Profit Directors & Officers Professional Liability Claims and Employment Practices liability claims throughout the entire claim's life cycle. The selected person will be responsible for conducting investigations, recommending adequate reserves, monitoring, documenting, and settling/closing claims in an expeditious and economical manner within prescribed authority limits for the line of business. Please note you will be required to go into one of the following claims offices at least twice a month if you reside within a 50-mile radius: Westborough, MA; Boston, MA; Hoffman Estates, IL; Indianapolis, IN; Lake Oswego, OR; Las Vegas, NV; Chandler, AZ; Plano, TX; Suwanee, GA; or Weatogue, CT. This requirement is subject to change.

Requirements

Bachelors' and/or advanced degree. J.D. a plus!
5+ years claims/legal experience; or in a related field. Experience with Financial Lines and Professional Liability Claims preferred.
Functional knowledge of claims handling concepts, practices and techniques, to include but not limited to coverage issues, and product line knowledge
Functional knowledge of law and insurance regulations in various jurisdictions
Demonstrated strong verbal and written communications skills
Demonstrated strong negotiation skills

Responsibilities

Analyzes, investigates, and evaluates the loss to determine coverage and claim disposition.
Utilizes Liberty's claim system to document claims and to diary future events or follow-up.
Within prescribed settlement authority for the line of business, establishes appropriate reserves for both indemnity and expense and reviews on a regular basis to ensure adequacy.
Makes recommendations to set reserves at appropriate level for claims outside of authority level.
Prepares comprehensive reports as required. Identifies and communicates specific claim trends and account and/or policy issues to management and underwriting.
Manages the litigation process through the retention of counsel.
Adheres to the line of business litigation guidelines to include budget, bill review and payment.
Proactively monitors the case resolution process.
Actively participates in mediations and arbitrations, within limit of settlement authority.
Participates in Claims audit process.
May provide claims marketing services by participating in meetings with brokers, risk managers and reinsurers. As required, maintains insurance adjuster licenses.