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Surety Claims Specialist in Philadelphia, PA at Chubb Group of Insurance Companies

Date Posted: 6/22/2018

Job Snapshot

Job Description

Chubb is the world’s largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally. 


KEY OBJECTIVE:                      
In this position, you will manage an inventory of surety claims. Specific duties of the Surety Claim Specialist include analyzing the bond coverage, investigating and evaluating liability and damage potentials, recommending, posting and maintaining accurate loss and expense reserves during the life of a claim. The incumbent will also work with outside counsel and consultants on the best methods for fulfilling our obligations under the surety bond, and working with construction firms in completing bonded projects and pursuing salvage and recovery opportunities. 
 
MAJOR DUTIES & RESPONSIBILITIES:                                                                                    
Manage Surety Claims across multiple jurisdictions
Analyze and address coverage issues timely and accurately under multiple bonds exposures.
Use knowledge of claim investigations, litigation and industry trends to make appropriate reserve recommendations on cases.
Develop and maintain strong business relationships with a wide spectrum of constituents internally and externally including principals/indemnitors, underwriters and other claims personnel.
Promptly and properly develop the facts of a claim through a comprehensive investigation, accurate fact based documentation and prompt contact with all knowledgeable parties.
Maintain well documented and articulate file notes, to be read and understood by not only claims but also underwriting.
Evaluate complex damages, liability exposures as well as set accurate and timely reserves.
Direct and control the litigation management process and expenses.
Proactively manage a claim inventory and effectively negotiate cases to an acceptable resolution under moderate supervision.
Present cases and regularly share expertise through the claim committee process as well as underwriting claim review meetings.
Adhere to all statutory regulations and Unfair Claims Practices Acts


MINIMUM REQUIREMENTS:

  • Candidate must demonstrate the ability to work in a collaborative fashion with a wide spectrum of people, developing and maintaining strong business relationships within Claims and with Underwriting counterparts.
  • Candidate should have technical knowledge in the investigation and analysis of surety Claims, with a minimum of 3 to 5 years of experience in handling the same. This would include knowledge of insurance contracts and industry trends.
  • The candidate must demonstrate excellent verbal and written communication skills.
  • Candidate must be both service and results driven, highly analytical and detail-oriented with the ability to make timely and appropriate decisions.
  • Good organizational and time management skills required.
  • Ability to accept new challenges in a continued changing business environment required, and has an established record of success in leading and modeling change initiatives.
  • Experience with handling midlevel exposures and midlevel losses
  • Demonstrated ability to deliver high caliber customer claim service
  • Listening and negotiation skills
  • Knowledge and attention to detail in insurance coverage and contracts, in investigating moderate claims, as well as setting timely and accurate reserves
  • Solid organizational skills to manage own claim inventory under moderate supervision
  • The ability to develop and maintain strong business relationships with a wide spectrum of people internally and externally.
  • Must obtain and maintain necessary licenses.
  • Bachelor's and law degree required

Chubb offers a competitive compensation package and comprehensive benefits package including life, health and dental, vision, a generous retirement savings plan, disability coverage, stock purchase plan, flexible spending accounts, tuition reimbursement, and business casual dress. At Chubb, we are  committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religion, age, sex, sexual orientation, transgender, national origin, disability, genetic information, veteran or marital status, or any other characteristic protected by law.