Complex Claims Consultant - Financial Lines/Public D&O

About the role

CNA is seeking a Complex Claims Consultant in our Financial Lines Claims team. The ideal candidate will primarily focus on high severity D&O and E&O claims under policies issued to Public Companies as well as Financial Institutions such as large depository institutions, insurance companies and investment advisors.

Responsibilities

• Manages an inventory of highly complex litigated claims, with large exposures that require a high degree of specialized technical expertise and coordination.
• Verifies policy coverage, conducts investigations, develops and employs resolution strategies, and authorizes disbursements within authority limits.
• Reviews and interprets policy language, estimates potential claim valuation, and follows company's claim handling protocols.
• Leads focused investigation to determine independent assessment of liability and damages, gathers pertinent information, and collaborates with internal and external business partners to develop, own and execute a claim resolution strategy.
• Negotiates and resolves cases where appropriate, participates in mediations and settlement conferences, and attends trial as necessary.
• Establishes and manages claim budgets by achieving timely claim resolution, selecting and actively overseeing appropriate resources, authorizing expense payments, and delivering high quality service in an efficient manner.
• Keeps senior leadership informed of significant risks and losses by completing loss summaries, identifying claims to include on oversight list, and preparing and presenting succinct summaries to senior management.
• Maintains subject matter expertise and ensures compliance with state/local regulatory requirements by following company guidelines, and staying current on commercial insurance laws, regulations or trends for line of business.
• Mentors, guides, develops and delivers training to less experienced Claim Professionals.

Requirements

• Bachelor's Degree or equivalent experience.
• Juris Doctorate is preferred.
• Minimum six years of relevant experience, preferably in Professional Liability claim handling or a minimum of six years in a law firm handling Professional Liability matters.
• Must have or be able to obtain and maintain an Insurance Adjuster License within 90 days of hire, where applicable.
• Prior negotiation experience.
• Professional designations preferred (e.g. CPCU).

Qualifications

• Advanced technical and product specific expertise.
• Claims resolution skill and knowledge of insurance and claims principles, practices and procedures.
• Demonstrated ability to handle litigated matters, including selection and direction of counsel, and formulation and execution of resolution strategies and strategic coordination with counsel, insureds, brokers and other insurers under reimbursement policies.
• Thorough knowledge of the commercial insurance industry, products, policy language, coverage, and claim practices.
• Strong communication, negotiation and presentation skills both verbal and written, including the ability to communicate business and technical information clearly.
• Demonstrated analytical and investigative mindset with critical thinking skills and ability to make sound business decisions, and to effectively evaluate and resolve ambiguous, complex and challenging business problems.
• Strong work ethic, with demonstrated time management and organizational skills.
• Ability to work in a fast-paced environment at high levels of productivity.
• Demonstrated ability to negotiate complex settlements.
• Experience interpreting complex commercial insurance policies and coverage.
• Ability to manage multiple and shifting priorities in a fast-paced and challenging environment.
• Knowledge of Microsoft Office Suite and ability to learn business-related software.
• Demonstrated ability to value diverse opinions and ideas.

Skills

• Advanced technical and product specific expertise.
• Claims resolution skill and knowledge of insurance and claims principles, practices and procedures.
• Demonstrated ability to handle litigated matters, including selection and direction of counsel, and formulation and execution of resolution strategies and strategic coordination with counsel, insureds, brokers and other insurers under reimbursement policies.
• Thorough knowledge of the commercial insurance industry, products, policy language, coverage, and claim practices.
• Strong communication, negotiation and presentation skills both verbal and written, including the ability to communicate business and technical information clearly.
• Demonstrated analytical and investigative mindset with critical thinking skills and ability to make sound business decisions, and to effectively evaluate and resolve ambiguous, complex and challenging business problems.
• Strong work ethic, with demonstrated time management and organizational skills.
• Ability to work in a fast-paced environment at high levels of productivity.
• Demonstrated ability to negotiate complex settlements.
• Experience interpreting complex commercial insurance policies and coverage.
• Ability to manage multiple and shifting priorities in a fast-paced and challenging environment.
• Knowledge of Microsoft Office Suite and ability to learn business-related software.
• Demonstrated ability to value diverse opinions and ideas.

Benefits

CNA offers a comprehensive and competitive benefits package to help our employees – and their family members – achieve their physical, financial, emotional and social wellbeing goals. For a detailed look at CNA’s benefits, please visit cnabenefits.com.

Pay

A reasonable estimate of the compensation for this role is provided in certain jurisdictions. In District of Columbia, California, Colorado, Connecticut, Illinois, Maryland, Massachusetts, New York and Washington, the national base pay range for this job level is $72,000 to $141,000 annually. Salary determinations are based on various factors, including but not limited to, relevant work experience, skills, certifications and location.

Schedule

The schedule for this role is typically full-time.