Claims Specialist, Financial Lines
Westfield Insurance · Berkeley Heights
Duties and Responsibilities:
Assist in the oversight of financial lines claims, including Private D&O, EPL, handled by a Managing General Underwriter (MGU).
Manage and oversee Plastic Card Fraud and Theft claims.
Monitor claim activity to ensure timely handling, appropriate investigation, reserving, and resolution consistent with company guidelines and delegated authority requirements.
Review claim bordereaux to understand claim developments, coverage considerations, exposure evaluations, and resolution strategies.
Escalate significant claim developments, coverage concerns, and high-exposure matters to management as appropriate.
Communicate regularly with MGU claim handlers regarding claim status, significant developments, reserve changes, and settlement activity.
Maintain accurate claim documentation and prepare written summaries, reports, and updates for management and business partners as needed.
Provide responsive and professional service to internal and external customers, business partners, brokers, and insureds.
Monitor compliance with applicable statutes, regulations, company guidelines, and delegated authority requirements.
Support mediations, settlement discussions, and claim resolution efforts by coordinating information and facilitating communication among stakeholders.
Participate in meetings with underwriting, brokers, insureds, and MGU partners as needed to support business relationships and claim-related discussions.
Assist in the coordination and management of outside vendors, including payment of defense counsel and other service providers, to support effective claim resolution.
Qualifications:
Minimum of 1 to 3 years of experience at either an insurance carrier and/or law firm.
Bachelor’s degree required.
Candidates will be required to obtain and maintain insurance adjuster licenses.
Excellent written communication skills.
Excellent verbal and interpersonal communication skills, resulting in the ability to interact with all levels of management and employee population.
Strong analytic, investigative, listening and negotiation skills.
Experience multi-tasking, prioritizing work and working effectively in a team environment, while maintaining attention to detail.
Experience working in a fast-paced environment, completing work with limited supervision.
Experience with Microsoft Windows, Outlook, and Excel or transferable software packages.
Ability and willingness to travel as needed.
The salary range for this position is $125,000.00 to $170,000.00.
This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.
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