VP Sr. Claims Counsel

Amynta Group • New York, NY

7d

About The Position

This position is responsible for assisting Ambridge Insurers in the effective adjustment of claims notified under Ambridge Directors & Officers policies, utilizing legal knowledge, experience, and expertise. This can be through direct handling of assigned claims or by serving as a resource for other Ambridge Claims Counsel. The role also serves as a resource for Ambridge D&O underwriters, providing guidance on coverage issues and reviewing/drafting policy endorsements. The position will manage the D&O claims team and collaborate with Ambridge Claims Leadership to ensure claims are appropriately identified, assigned, and handled to resolution. It involves interacting with clients, underwriters, brokers, and third parties to adjust claims in line with company strategy and regulatory/legal requirements.

Requirements

• 4-year college degree.
• Juris Doctor degree.
• 5 – 10 years of D&O claims adjusting experience.
• At least 5 years of litigation management experience including: selection and direction of defense counsel, attendance at settlement conferences, mediations, arbitrations, and trials.
• Ability to find practical and commercial solutions to legal issues.
• Ability to adapt to changing demands and to learn and develop new skills and areas of expertise.
• A commitment to continuous personal and professional development.
• Understandings of the legal principles giving rise to subrogation.
• Basic knowledge of principles of risk management.
• Effective prioritization and organizational skills in order to meet timescales.
• Advanced literacy and numeric skills.
• Excellent interpersonal, communication and writing skills.
• Advanced IT skills, including Microsoft Office with the ability to learn new systems.
• Excellent persuasion, influencing and negotiation skills.

Nice To Haves

• Insurance industry knowledge and experience, focusing on advising on claims and underwriting matters preferred.
• Knowledge and understanding of D&O product features, benefits, exclusions and warranties and application to various situations preferred.

Responsibilities

• Receive, review, and open claim notification files on newly assigned notifications.
• Conduct time-sensitive analysis of the notice in conjunction with a comprehensive review of the Policy and the underwriting file.
• Liaise with Managing Director, Chief Underwriting Officer, and Chief Legal Officer to disseminate initial view on the relative merits of the notification to assure an understanding of the underwriting intent and scope of coverage provided.
• Prepare Claims Notice Summaries, draft reservation of rights letters, and claims analysis charts.
• Proofread thoroughly and liaise with applicable responsible parties for feedback on draft Reservation of Rights and Claim Summary memoranda.
• Liaise with Insurers and their advisors in the event of claim dispute to facilitate transfer of information in accordance with applicable agreements.
• Facilitate compliance and regulatory tasks to ensure claim positions comply with external rules, requirements, policy, and internal best practice guidelines.
• Assist fellow staff counsel and senior underwriting in managing daily workflow by advancing and monitoring claims underwriting and assisting with research and analysis of policy claims.
• Maintain a working knowledge of Ambridge Partners’ insurance consortium members, products, per-risk capacity, and establish personal relationships with their responsible claims executives.
• Adhere to Ambridge Claims Guidelines and Lloyd’s Minimum Standards for Claims Management.
• Help Insurers ensure claims are handled in accordance with local law/jurisdiction and Binding Authority Agreement terms.
• Ensure strong working knowledge of Ambridge policy forms and understand underwriting intent.
• Adequately help Insurers gather and analyze sufficient information to make an appropriate liability decision.
• Help Insurers ensure that potential recoveries from third parties are investigated and pursued.
• Help Insurers ensure that documentation is consistently contained in the file and adequately supports analysis.
• Serve as a resource for team members by providing input or making recommendations on specific claims and renewal of risks.
• Serve as an authority referral resource for team members (as appropriate based on approved claims authority).
• Develop an understanding of market and underwriting strategies for each underwriting team.
• Provide feedback to underwriting on claims trends, development, and impact on their book.
• Suggest product/contract wording changes to avoid future losses based on prior experience.
• Participate in Peer Reviews as both a reviewer and reviewee.
• Maintain up-to-date expertise in claim handling by reviewing recent case law, attending seminars, and keeping abreast of regulatory developments.
• Participate, as needed, in interviewing, hiring, training, and development of additional staff.
• Act with integrity.
• Act with due skill, care, and diligence.
• Be open and co-operative with ELANY, NY DFS, Lloyd’s, and other regulators.
• Pay due regard to the interests of customers and treat them fairly.
• Observe proper standards of market conduct.

Benefits

• The Amynta Group (the “Company”) is committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of any ground of discrimination protected by applicable human rights legislation.
• The information collected is solely used to determine suitability for employment, verify identity and maintain employment statistics on applicants.
• Applicants with disabilities may be entitled to reasonable accommodation throughout the recruitment process in accordance with applicable human rights and accessibility legislation.
• A reasonable accommodation is an adjustment to processes, procedures, methods of conveying information and/or the physical environment, which may include the provision of additional support, in order to remove barriers a candidate may face during recruitment such that each candidate has an equal employment opportunity.
• The Company will accommodate a candidate to the point of undue hardship.
• Please inform the Company's personnel representative if you require any accommodation in the application process.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior