Industry: Accounting, Finance & Insurance•
5 - 7 years
Posted 174 days ago
Under general supervision, negotiates settlement of litigated, high-value, complex liability and bodily injury claims in the most expedient and cost effective manner. Directs settlement strategy and defense through litigation procedures in conjunction with defense counsel. Review and analyze case information, such as, preliminary investigations, coverage documents and recommended reserves, to establish nature of the claim; conduct more extensive investigation as needed for litigation procedures and defense. Analyze and evaluate extent of injury and loss, liability, comparative negligence and subrogation potential based on additional investigation and review of coverage determinations.
Negotiates settlement of claims when possible; establishes reserve amounts and discusses claims which exceed personal authority limit with manager. Establishes and directs settlement strategy in conjunction with defense counsel for non-negotiable and litigated cases; attend arbitrations, depositions, court hearings, and mandatory settlement conferences, etc. as needed. Issues settlement payments and obtain appropriate releases for adjusted claims; closes claim files according to Company procedures. Maintains diary of files in pending and update file information to ensure accurate record of claims; continually reviews and monitors progress and expense of claims in pending.
Worker characteristics are normally acquired through completion of undergraduate studies in a related field, additional insurance-specific courses, as well as, a minimum of 5 years of supervisory claims handling experience.