Claims Counsel

Recruiter
Location
Bermuda
Salary
Highly competitive + bonus and 0% tax
Posted
14 Feb 2017
Closes
14 Mar 2017
Contract
Permanent
Hours
Full Time
Experience Level
Senior Level

Our client is a Bermuda-based captive insurance group that provides professional indemnity insurance for a global network of professional services firms.  

Reporting directly to the Chief Executive Officer and working closely with the Chief Underwriting Officer and Chief Financial Officer, the Claims Counsel will be responsible for day to day management of all aspects of professional indemnity claims notified by member firms within the network.  The role will involve regular interaction with assureds and external counsel, on claims management issues, including responsibility for maintaining relationships with the Risk Management partners of member firms around the world.

Role

The core responsibilities will include, but not be limited to the following:

  • Manage the claims processes (including monitoring, notification and insurance verification, reserving, claim payments, and reporting) to ensure best practice and efficient service delivery;
  • Liaise regularly and advise on both coverage issues and claims management issues with the insured member firms;
  • Monitor and provide technical assessment and advice, on major claims, including liaising with assureds and external counsel, setting claims reserves, and communicating with the reinsurers;
  • Provide claims data and bordereaux to the actuaries, for use in the loss reserving process;
  • Provide regular reporting to reinsurers, to ensure that they meet their reinsurance obligations in a timely manner;
  • Draft, bespoke insurance policies and reinsurance agreements;
  • Ensure compliance with local regulatory requirements in multiple jurisdictions worldwide;
  • Regularly review professional indemnity policies and advise as to revisions and updates which may be required.

Candidate

This is an important and rewarding role that would particularly suit a litigation lawyer (up to and including “Of Counsel” level) or an experienced,  in-house Claims Counsel handling complex claims  with requisite experience to be able to monitor, guide and advise upon, claims made against the client’s global network of firms. Ideally, the Claims Counsel will have relevant level of experience relating to claims against large professional services organisations.  The core requirements are as follows:    

  • Qualified JD, or UK/Commonwealth lawyer, with at least 10 – 15+ years’ post-qualification experience, including relevant insurance sector experience within the commercial litigation department of a major law firm; or as Claims lawyer for an insurance company, handling complex claims;
  • Experience in relation to the defence of professional liability claims against professional services organisations, would be highly desirable;
  • Strong interpersonal abilities, outstanding communications and presentation skills, capable of reporting to the Board of Directors;
  • Strong analytical and problem solving skills, able to quickly understand the nature of claims notified in a professional services company and the factors impacting potential losses;
  • Strong financial analysis skills and an investigative, detail-conscious mindset;
  • A good team player, capable of operating effectively in a small team environment and with a work ethic and style that are consistent with the firm’s values.

To apply and/or have the opportunity for a confidential discussion, please send a resume and covering letter to Alistair McNeish, PwC Consulting, Ltd., via the Apply button (tel: 441-295-2000).