Senior Claims Specialist - Surety
About The Position
Munich Re Specialty - North America is hiring a Senior Claims Specialist for its growing Claims Department. The role directs all aspects of in-house handling of Performance Bond and Payment Bond files, including the adjusting and litigation process. The specialist partners strategically with counsel, experts, and vendors to drive optimal claim resolutions. Responsibilities include analyzing and determining coverage, managing claim investigations, evaluating claims, communicating with internal and external stakeholders, and pursuing recoveries and risk transfer where warranted. The position also involves presenting high-exposure claims to Claims Leadership and key stakeholders, collaborating on client meetings, product development and improvement, and account audits, and identifying ways to improve claim efficiency and outcomes. The role is open to candidates in several locations, including Philadelphia, Chicago, Hartford, Atlanta, and Princeton, and requires travel for mediations, settlement conferences, and client or account meetings.
Requirements
- Bachelor’s degree.
- At least 8 years of experience handling surety matters.
- Detail-oriented, adaptable, and strategic decision-making.
- Understanding of technical claims proficiency and execution of best claim practices.
- Ability to work independently, multitask, and remain self-motivated in a fast-paced environment.
- Strong organizational skills and time management of claims desk.
- Strong business acumen and ability to collaborate with other departments and vendors.
- Customer-service and relationship orientation.
- Innovative, dynamic, and growth mindset.
- Good verbal and writing skills for internal and external communication, presentations, and reporting.
- Good analytical thinking, advocacy, and negotiation skills.
- Willingness to travel for mediations, settlement conferences, and client or account meetings (25%).
- Maintain valid adjusters’ licenses in assigned states or be able to obtain them.
Nice To Haves
- Juris Doctor (JD) degree.
Responsibilities
- Investigate and assess claims against surety bonds for coverage and damages, and pursue recovery, subrogation, and contribution opportunities.
- Apply an in-depth understanding of coverage issues, bond forms, contracts, regulatory requirements, and the changing legal landscape for Performance Bonds and Payment Bonds.
- Proactively and promptly manage claims, considering all relevant aspects and pursuing optimal outcomes.
- Continually evaluate claims and set appropriate, timely reserves that reflect changes in exposure.
- Consistently execute best claim practices and demonstrate strong technical claims proficiency.
- Strategically coordinate and manage outside counsel and vendors to obtain optimal claim outcomes.
- Present high-exposure claims to Claims Leadership and key stakeholders.
- Collaborate with internal and external business partners on client meetings, product development and improvement, and account audits.
- Identify ways to improve claim efficiencies and outcomes.
- Travel for mediations, settlement conferences, and client or account meetings.
Benefits
- Health insurance, with PPO or High Deductible plan options.
- Prescription drug coverage included in the health insurance plan.
- Vision and dental insurance plans.
- Basic life insurance at no cost, equal to 1x annual salary, and AD&D coverage equal to 1x annual salary.
- Short- and long-term disability coverage.
- Optional supplemental life and AD&D plans for employees and dependents.
- Voluntary accident, critical illness, and hospital indemnity plans.
- 401(k) plan with up to a 5% employer match.
- Retirement savings plan that is 100% company funded.
- Paid time off beginning at 24 days each year, with additional days for milestone service anniversaries.
- Eligibility for a yearly employee bonus.
- Health and wellness programs provided at no cost.
- Paid time off for eligible family care needs.
- Tuition assistance and educational achievement bonuses.
- Corporate matching gifts program.
- Paid time off to volunteer in the community.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
