Complex Claims Consultant - Accountants Job at CNA Insurance
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CNA is the market leader in providing Accountants Professional Liability coverage and provides best-in-class claim service. We are seeking a dynamic self-starter to join our team as a Complex Claims Consultant handling claims for accounting firms nationwide. At CNA, Claim Professionals use their specialized expertise to handle claims efficiently and seamlessly in a collaborative environment focused on continuous improvement. The Complex Claims Consultant plays a critical role in managing and resolving complex accounting malpractice claims by evaluating coverage, assessing liability and damages, setting timely reserves, negotiating and settling claims, and directing litigation. The Complex Claims Consultant will collaborate in a rich team environment including claim leadership and business partners to ensure the best possible outcome on every claim.
JOB DESCRIPTION:
The claims being managed involve primary, excess and quota share policies with a portion managed on an account basis. The Complex Claims Consultant role is recognized as a technical expert in the analysis of complex financial exposures and professional service policy coverages. Under general management direction, the Complex Claims Consultant works within assigned limits of broad authority on assignments requiring a high degree of technical complexity and coordination. The position may have regional, industry segment or company-wide scope of responsibility within the specialty area. The Complex Claim Consultant will handle approximately 110-120 pending Accounting Professional Liability claims.
We are open to all CNA office locations with a preference for Chicago or Lisle, IL, Tarrytown or New York, NY, Warren, NJ, Wyomissing, PA.
We are open to all CNA office locations with a preference for Chicago or Lisle, IL, Tarrytown or New York, NY, Warren, NJ, Wyomissing, PA.
Essential Duties & Responsibilities
- Manages an inventory of highly complex specialty claims with large exposures that require a high degree of specialized technical expertise and coordination.
- Ensures exceptional customer service to internal and external business partners by managing all aspects of the claim, interacting professionally and effectively, achieving quality and cycle time standards, providing timely updates, and responding promptly to inquiries and requests for information.
- Verifies coverage by reviewing and interpreting policy language and partnering with coverage counsel on more complex matters.
- Establish timely and adequate reserves, including estimating potential claim valuation, while following company's claim handling guidelines.
- Manages all types of investigative activity and/or litigation on major claims. Coordinates discovery and litigation strategy with counsel.
- Determines if a claim should be settled or litigated and implements an appropriate resolution strategy accordingly. Effectively manages loss and claim expenses.
- Negotiates highly complex settlement packages within authority, settling claims in the most cost effective manner and ensures timely issuance of disbursements.
- 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/watch lists, and preparing and presenting succinct summaries and recommendations to management.
- Maintains subject matter expertise and keeps current on state/territory regulations and issues, industry activity, and trends.
- Responsible for input of data and file documentation that accurately reflects claim circumstances and other information important to our business outcomes.
- Mentors, guides, develops, and delivers training to less experienced Claim Professionals.
May perform additional duties as assigned.
Reporting Relationship: Director or above.
Skills, Knowledge & Abilities
- Advanced technical and product specific expertise, claims resolution skill and knowledge of specialty insurance and claims principles, practices and procedures for primary and excess policies.
- Strong communication, presentation, and writing skills. Ability to effectively interact with all levels of CNA's internal and external business partners.
- Advanced analytical and problem solving skills, with the ability to manage and prioritize multiple projects and shifting priorities in a fast-paced and challenging environment.
- Strong work ethic and ability to appropriately deal with ambiguous situations and issues.
- Creativity in resolving unique and challenging business problems.
- Demonstrated ability to negotiate complex settlements.
- Knowledge of Microsoft Office Suite and other business-related software.
- Ability to adapt to change and value diverse opinions and ideas.
- Ability to evaluate claims based on a cost benefit analysis.
- Ability to implement strategies with a proactive long-term view of business goals and objectives.
Education & Experience
- Bachelor's degree or equivalent experience. Juris Doctorate is strongly preferred.
- Typically a minimum eight years claims experience.
#LI-MM1
#LI-hybrid
For NYC Job Applicants: The base annual salary range for this position is
$103,500.00 - $155,500.00
The exact compensation may vary based on skills, experience, training, licensure and certifications and location.
CNA is committed to providing reasonable accommodations to qualified individuals with disabilities in the recruitment process. To request an accommodation, please contact
leaveadministration@cna.com
.
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