CNA is one of the premier providers of professional liability insurance. We are currently seeking a claim professional who can be located in our downtown Chicago or 125 Broad Street office in NYC. The qualified candidate will be an attorney with 6 plus years of experience working in a law firm or for an insurance carrier handling claims related to professional liability for our financial institutions segment. The individual in this position primarily will handle EO and DO claims involving our insured banks, insurance companies, investment advisors and private equity firms. The ability to proactively manage a diverse pending is a must. These claims are highly complex in nature and can be valued in the multi-million dollar range. Insurance litigation and/or coverage interpretation/analysis experience is required.
We seek an individual who has attended mediations and been involved in negotiating settlements involving insurance claims. The average caseload for this claim professional will be approximately 135-150 files.
CNA offers excellent work/life balance opportunities and a strong benefits package for individuals who are considering leaving the law firm environment.
Individual will investigate and maintain complex professional liability claims. Works within specific limits of authority on assignments requiring significant technical complexity and coordination. Utilizing claims policies and guidelines, reviews coverages, determines liability and compensability, secures information, and negotiates and settles claims.
1. Interprets more complex or unusual policy coverages and determines if coverages apply to claims submitted, escalating issues as needed.
2. Prepares timely and thorough coverage analysis and may occasionally assign counsel on an insured’s behalf.
3. Recommends appropriate reserves and attempts to effectively settle claims in most cost effective manner and ensuring timely issuance of disbursements.
4. Coordinates and performs investigations and evaluates claims and exposure through contact with insureds, brokers and defense counsel.
4. Utilizes negotiation skills to develop complex settlement packages or suggest resolution strategies.
5. Works with defense counsel, underwriters, brokers, and insureds regarding the handling and/or disposition of complex claims.
6. Analyzes claims activities and prepares reports for management. May be responsible for special projects and presentations.
7. Keeps current on state/territory regulations and issues as well as industry activity and trends.
1. Solid knowledge of claims and insurance industry theory and practices.
2. Demonstrated technical expertise and product specific knowledge.
3. Strong interpersonal, communication and negotiation skills. Must have the ability to effectively interact with all levels of CNA's internal and external business partners.
4. Ability to work independently.
5. Strong analytical and problem solving skills.
6. Ability to exercise independent judgment and make critical business decisions effectively.
7. Solid knowledge of Microsoft Office Suite as well as other business-related software.
1. Juris Doctor strongly preferred. Professional designations preferred.
2. Typically a minimum six years claims experience in professional liability or six plus years in a law firm handling professional liability claims. DO experience strongly preferred.