Position SummaryThis position will report to the Managing Director of Claims in our Morristown, NJ office. The ideal candidate will have a strong coverage background and a high level of technical claim handling ability with experience in property, general casualty, excess casualty, specialty and professional lines, as well as an in-depth knowledge of reinsurance terms and concepts. The claims professional must have an extensive knowledge of the re/insurance industry, including reinsurance claim handling experience. This position will require 20-30% travel conducting claim audits and client visits.
Responsibilities and Accountabilities- Ensures all assigned claims are properly documented, reserved and processed.
- Identify and address coverage issues within reinsurance contracts and underlying insurance policies.
- Coordinate with Underwriters, business partners and outside vendors to schedule audits, determine file selections, conduct audits and prepare audit reports/summaries, oversee audits performed by vendors and communicate findings to internal stakeholders.
- Communicate with brokers and cedents regarding account and claim specific requests for information, coverage issues, payment requests and ceded issues.
- Maintain a high level of claim and industry-related expertise in order to assure technical competency and communicate significant issues and relevant changes to Underwriters, Actuaries, and Executive Management.
- Communicate with claims team about claim issues, large claims and potential accumulations.
- Review of ceded claim reserves for proper allocation to treaties and determining if additional case reserves are necessary.
Required Skills and Abilities- Excellent communication skills and ability to work in a team.
- At least 8-10 years of experience in primary/reinsurance property & casualty claims. Experience in managing complex and litigated claims.
- Good working knowledge of legal processes and laws concerning insurance claims.
- Experience conducting reinsurance claims audits.
- Detailed technical knowledge of property, general/excess casualty and professional lines business. Knowledge of workers compensation and surety claim handling a plus.
- Proficiency in MS Word/Excel/Power Point.
- Excellent inter-personal skills
- College degree required. Post graduate degree and/or industry certification/designation preferred.
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For individuals assigned or hired to work in the location(s) indicated below, the base salary range is provided. Range is as of the time of posting. Position is incentive eligible.
$145,700 - $196,700/year
- Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above pay range may be modified in the future.
- Arch is committed to helping employees succeed through our comprehensive benefits package that includes multiple medical plans plus dental, vision and prescription drug coverage; a competitive 401k with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long-Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care; and more. Click here to learn more on available benefits.
13100 Arch Reinsurance Company
