Financial Products Claim Executive/Counsel - (US-OH-Independence - 44131)

Minimum Education: None
Job Type: Full Time
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Responsibilities and Requirements : Bond and Financial Products Claim Executive/CounselDuties: Effectively manage all assigned Bond and Financial Products Claims (BFP) in Specialty Claims Areas to include Public Company and Private Non Profit Employment Practices Liability, Directors and Officers Liability, Fiduciary Liability, Lawyers Professional Liability, Financial Institutions/Crime, Miscellaneous Professional Liability. (include): thoroughly analyze, investigate, negotiate and resolve claims within authority limit; make appropriate decisions within authority and present appropriate recommendations to management when necessary; comply with all policies, procedures, compliance, regulatory, performance and customer service standards; maintain accountability for accurate documentation and information in all claim files and BFP's own management system; adhere to claim documentation standards; make quick, sound decisions and negotiate terms and conditions consistent with Bond standards within authority limit; solicit input and guidance from management when resolving claims that are beyond authority level; prepare Large Loss Memos and other reports to management to accurately reflect loss development, potential/actual financial exposure, coverage issues, claim and recovery strategies; communicate reserve adjustments to underwriting and claims management; monitor, manage and approve payments to outside counsel while actively utilizing litigation management plans and budgets; fully support regional underwriting teams; maintain and retain appropriate claims adjuster licenses; identify recovery management opportunities early in the claim to develop and coordinate recovery efforts; improve technical knowledge through continued technical training; maintain knowledge of coverage, laws, legislative and industry-related initiatives and judicial trends.

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