Senior Claims Specialist

Bitco Insurance Companies•Saint Louis, MO

8d•Hybrid

About The Position

BITCO Corporation, a leading provider of specialized insurance solutions is seeking a Senior Claims Specialist for our branch office located in St. Louis MO. With a strong national presence and 11 branch offices in 10 states, BITCO delivers tailored insurance services to specialized industries including construction, forest products and oil & gas. This position is eligible for a hybrid work arrangement with required business travel to BITCO office locations and customer offices Position Summary: This position provides key support in the handling of claims across multiple lines of coverage, with a focus on Liability (Commercial Auto and General Liability) and large property damage/Inland Marine losses.. This includes assessing claim coverage, liability, legal and damage issues, and investigating, evaluating, and effectively resolving all assigned claims in a timely manner according to company and regulatory guidelines. Provides a high level of customer service to internal and external business partners.

Requirements

Minimum of 5 years of experience with the following:
Coverage Review - interpreting policies, agreements/contracts, reservation of rights, and disclaimers
Claims Investigation - Statements, authorizations, retention of qualified experts and counsel
Claims Administration - Reports, review reserves, compliance knowledge of laws and procedures
Claims Settlement - Preparation of disclaimer letters, releases, and proof of loss statements; participation in legal court proceedings when necessary
Knowledge of coverage, negligence principles, investigation, and negotiation techniques
Ability to obtain and maintain state adjusting licenses, as needed
Must be service-oriented, with the ability to provide prompt, efficient, and effective claims and customer service
Ability to communicate clearly and effectively with our customers, claimants, opposing counsel, defense counsel, and members of the public
Ability to manage and organize workload of multiple tasks simultaneously
Excellent judgement, negotiation, and decision making skills
Must be able to travel between different off-site locations or overnight in an expeditious manner
Experience in handling liability claims in Midwestern states, inclusive of MO, IL, NE, KS

Responsibilities

Review, analyze, and interpret policy conditions, exclusions, and endorsements to resolve coverage and liability issues for assigned claims
Prepare reservation of rights letters, nonwaiver agreements, and coverage disclaimers to address claim coverage issues
Review and evaluate claim reserves to ensure that the respective reserve properly reflects the potential exposure
Investigate claims to evaluate coverage and legal issues, which may include meeting with Insureds and witnesses, and obtaining statements, records, and other evidentiary materials
Provide proper documentation and reporting of investigation and claims handling activities
Negotiates, including through mediation, arbitration, or other court-supervised settlement efforts, settles, and resolves claims with claimants, insureds, and their lawyers; provides appropriate claims resolution documents
Maintain a working knowledge of regulatory and jurisdictional requirements
Provides direction to and management of defense counsel, independent adjusters and other third parties retained to assist in a particular claim
Identify and pursue (if applicable) risk transfer opportunities
Other duties as assigned