Claims Representative (Surety)
Under broad supervision, investigates and maintains specialty, property and/or casualty claims. This position will be assigned to the surety claims department and the successful candidate should expect to exclusively be assigned construction surety and occasionally commercial surety claims. Works within limited authority on assignments of moderate technical complexity. Reviews coverages, determines liability and compensability, secures information, monitors litigation and settles claims utilizing claims policies and guidelines.
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
1. Interprets basic bond coverages and determines if coverages apply to claims submitted, escalating issues as needed.
2. Sets activities, reserves and authorizes payment within scope of authority, settling claims in most cost effective and timely manner. Ensures prompt issuance of disbursements while effectively managing loss costs and claim expenses.
3. Participates in performing investigations and evaluating claims through contact with insureds, claimants, witnesses and experts.
4. Efficiently and effectively identifies and reports to management serious claim developments to management.
5. Attach documents to and enter data in the paperless claim system
6. Partners with attorneys, account representatives, agents, underwriters, and principals/insureds to develop a focused strategy for timely and cost effective resolution of claims. and communicates with underwriting, consultants, outside counsel utilizing timely and highly professional written and verbal communication skills.
7. Recognizes need for negotiation, participates in planning strategy and negotiates within scope of authority.
8. Identifies claims with third party recovery potential and coordinates with subrogation / salvage unit.
9. Analyzes claims activity and prepares reports for management review.
10. Responsible for input of data that accurately reflects claim circumstances and other information important to our business outcomes.
11. Keeps current on state / territory issues, regulations and trends.
May perform additional duties as assigned.
Director or Assistant VP of Surety Claims
Skills, Knowledge & Abilities
1. Knowledge of claims and insurance industry theory and practices.
2. Developing technical expertise, product specific knowledge and negotiation skills.
3. Ability to negotiate and settle claims effectively.
4. Good interpersonal and communication skills. Ability to effectively interact with all levels of CNA's internal and external business partners, bond principals, claimants, brokers, attorneys and others, as necessary.
5. Ability to work independently. Good time management skills and ability to meet deadlines.
6. Good analytical and problem-solving skills. Demonstrates attention to detail.
7. The ability to exercise independent judgement and make sound business decisions effectively.
8. Knowledge of Microsoft Office Suite as well as other business-related software. Must be comfortable and able to and learn electronic filing systems and effectively work in “paperless” environment.
9. Ability to adapt to change and value diverse opinions and ideas.
Education & Experience
1. Bachelor's degree or equivalent experience. Law degree, Accounting, finance, architecture, engineering, and/or construction-related experience or background a plus.
2. Completion of a formal claims training program or minimum six months of claims experience. Successful applicant must either have current Texas Property/Casualty Adjustors License or be willing and able to successfully pass the TX test to get it within first year of employment.
Please reference Daniel Oldenkamp in the application and contact him regarding questions:
Daniel Oldenkamp | Senior Claims Counsel | AFSB
CNA Surety | 151 N. Franklin St., 17th Floor, Chicago, IL 60606
(312) 822-1616 (o) | (312) 894 -2676 (f) Daniel.firstname.lastname@example.org