Assumed Reinsurance Claim Consultant - Latent Liabilities (Shrewsbury)
Compensation: $73,210.00 - $101,410.00 /year *
Employment Type: Full-Time
Industry: Financial Services - Insurance
Armour Risk Management, Inc. is a growing and dynamic business operating in the global insurance and reinsurance market, focusing on the United States, UK, Continental Europe, and Bermuda.
We operate in the Property & Casualty (P&C) market covering the non-life sector of the insurance market. We currently have offices in the US, Bermuda and the UK including Hamilton, Philadelphia, and London. We have ambitious expansion plans and look to recruit determined and enthusiastic people to our hard-working team.
The Assumed Reinsurance Claim Consultant handles latent liability (asbestos, environmental, etc.) and WC claims arising under assumed reinsurance contracts (treaty and facultative). Ideal candidates will have experience in the runoff industry with prior experience handling APH reinsurance claims to conclusion. This position will be in our Quincy, MA or Philadelphia, PA office, or remote dependent upon experience.
Key Tasks & Objectives
- Evaluate applicability of claim coverage under the reinsured policy and the reinsurance contract
- Assess claim exposure potential under policy and reinsurance contracts
- Assess cedant settlements and allocation to available reinsurance coverage
- Identify and resolve differences with respect to contract interpretation
- Manage formal disputes; including arbitration and litigation
- Strategize on complex and high exposure claims
- Conduct cedant claim audits
- Support commutation pricing and analysis including overviews of involvement and historical trends
- Ensure compliance with best practices
Key Technical Skills, Knowledge, Professional Qualifications
- A Bachelor's degree is preferred or equivalent experience
- Extensive knowledge of reinsurance principles and practices regarding assumed claim handling
- 5-10 years of reinsurance claim handling experience (prior direct claims handling experience a plus)
- Significant experience with latent claims handling (asbestos, environmental, sexual abuse)
- Strong organizational skills
- Strong analytical, technical and problem-solving skills
- Proficiency with current Microsoft Office products
Key Personal Skills Required
- Ability to collaborate with and motivate others
- Strong oral and written communication skills
- Strong negotiation skills
- Able to demonstrate a flexible approach and adapt to changing requirements and priorities
- Exceptional organization and time management skills
- Travel to other offices or locations may be required.
- Additional hours may be required during busy periods.
Armour offers a comprehensive benefits package that includes medical, dental, vision, STD, LTD, 401(k) with a generous match, and paid time off. Salary is commensurate with experienceJob Posted by ApplicantPro
Associated topics: bodily, claim adjuster, claimant, insurance, insurance adjuster, investigate, investigation, liability, liability adjuster, title examiner
* The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.
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