Insurance / Claims Lawyer
Our client, a leading global Insurer, are seeking an AVP, Senior Claims Examiner to join their Professional Lines Claims Team to lead the day-to-day oversight of their Management liability claims book.
The role will be based in their London office on a hybrid basis (Ideally 3 days in the office). It involves the examination, analysis, negotiation, and settlement of complex Management Liability claims from cradle to grave, including reviewing claims data and underwriting documentation to ascertain validity of losses notified; adhering to internal and external Key Performance Indicators and regulatory requirements; establishing appropriate reserves and resolution strategies in a timely and professional manner to meet levels of service expected by internal and external customers.
Ideal appliants will be (for example);
- A Senior Associate/Legal Director at an insurance-focussed firm with experience of heavyweight director/officer litigation (either as defence or coverage counsel) looking for a career change
- A Senior Associate/Legal Director at a non-insurance focussed firm but with experience of heavyweight director/officer litigation
The successful candidate will have an excellent knowledge of the London Professional Lines Insurance market, be able to recognise contentious issues/potentially significant claims at an early stage in their lifecycle and ensure they are dealt with appropriately (including informing claims and underwriting management about them). They will be expected to lead discussions around claims trends and the Management Liability book’s performance within the claims team and with other stakeholders in the business, including underwriters and actuaries.
The successful candidate will be required to assist in the development/training other colleagues (inside and outside of claims) to enhance their knowledge on Professional Lines claims and specific accounts.
- Confidently and competently handling all aspects of complex, multi-faceted international Management Liability claims, including:
- Examining claim data and underwriting documentation to ascertain validity of losses notified against cover provided and establish premium payment status
- Undertaking claim handling obligations responsibly, thereby preserving and protecting the company’s image as a respected leading underwriting entity
- Establishing, reviewing, and updating appropriate resolution in a timely manner
- Negotiating settlements and authorising claim payments in a timely manner to meet the levels of service expected by the market, their customers, and other stakeholders
- Confidently driving the Watchlist process and understanding the importance of IBNR
- Ensuring their files are adequately always documented and fully up to date
- Managing and monitoring the performance of service providers (including Coverholders, ceding companies, TPAs, panel lawyers and loss adjusters) and other Insurers and reporting on their compliance or otherwise with terms and conditions of risks written and their overall claims handling service.
- Recognising contentious issues, large or unusual claims and trends/patterns and where appropriate, informing claims, underwriting and actuarial management of the same
- Conducting regular reviews of the claim portfolio to assess the adequacy of reserves being carried.
- Attending and lead internal claim meetings, market meetings and seminars and to represent the company as and when required.
- Leading communications with Underwriters and actuaries on losses of significant value and losses with issues of note where appropriate.
- Ensuring that appropriate ‘soft skills’ are utilised in order to communicate with people internally and externally in an effective and professional manner, to actively encourage teamwork within both the claims department and the business as a whole and to aid in successful conflict resolution.
Desired Skills & Experience
This role requires a handler of at least 7 years’ experience in the insurance industry handling international third-party Professional Lines claims. The candidate needs to:
- Be extremely technically proficient and have a proven record of successfully handling complex, multi-faceted Management Liability claims
- Have an excellent understanding of the insurance industry, particularly the London and Lloyd’s insurance markets and their claims systems (e.g., ECF2, the IMR and Writeback)
- Be a highly effective and efficient communicator both orally and in writing
- Be willing to support/develop junior members of the team and advance/enhance their technical skills
- Lead discussions around claims trends and patterns within the claims team and with underwriters and actuaries and help foster a collaborative team approach
- Adhere to existing procedures and think of creative and efficient ways of streamlining processes and procedures
- Be able to network and establish relationships effectively with brokers, service providers and internal stakeholders
- Have experience of handling Financial Institutions, Professional Indemnity and/or Cyber claims
- Legal background/qualifications
- Have experience of managing individual reports or teams
You must be available for interview asap.
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