We are seeking a Sr. Claims Specialist to support our Sompo Surety business unit and to be based out of Nashville, TN, Mt. Juliet, TN, New York, NY, Morristown, NJ, or Chicago, IL. This position reports to the AVP of Sompo Surety Claims. The successful candidate will be able to provide insight and analysis on a variety of surety bond claims to include a heavy emphasis on performance and payment claims, in addition to contract surety claims. We are looking for a mid-level professional who has experience in subdivision and/or construction engineering. Litigation experience is a plus.
Duties and Responsibilities
- Investigate, analyze, and resolve contract and commercial surety bond claims within given loss authority.
- Evaluate exposures and make substantive claim decisions for Sompo Surety claims.
- Pursue salvage and subrogation opportunities.
- Retain, manage, and work with outside surety counsel on claim and indemnity matters.
- Collaborate and communicate with external and internal parties on claim matters.
- Oversee loss and loss adjustment expense, case reserves per reserving guidelines.
- Ensure timely and accurate reporting of exposure to underwriting and management.
- Ensure appropriate narrative and arithmetic reports are timely prepared and disseminated.
- Ability to proactively identify trends and exposures that may affect the Sompo Surety portfolio.
- Work closely with your colleagues worldwide on various projects as directed by the Claims Leadership Team.
- Attend various industry conferences, possibly as a speaker/presenter, publishing on current claim trends and issues and assisting other offices on complex claims.
- Communicate effectively with and support underwriting and other functional groups within the organization.
- Other duties as required by management.
- Some travel as required.
Skills and Qualifications
- Bachelor’s Degree Required
- JD preferred.
- Minimum 3 plus years’ experience required in surety bond claims unless candidate has a JD with construction or public contract experience.
- Heavy contract and payment & performance experience is preferred.
- Strong preference for candidate who has pursued or is in the process of pursuing an insurance related designation (e.g., AFSB, CPCU IIA).
- Direct handling of a wide variety of surety bond exposure claims, including but not limited to contract, payment & performance, sub-division, license & permit, oil & gas, reclamation, and other commercial program bonds with an emphasis on evaluating, handling, negotiating, and settling litigated and non-litigated matters with typical exposures from $0 to $1,000,000 USD.
- Demonstrated ability to establish close working relationship with other departments including underwriting & actuarial.
- Strong negotiating, analytical, written, and organizational skills.
- Strong computer skills (MS Word, Excel, Outlook, and various in-house claims systems –Guidewire and ImageRight is a plus).
- Multiple state adjuster licenses a plus.
Salary Range: $90,000 – $145,000 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.
At Sompo International, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:
- Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution.
- Pharmacy benefits with mail order options.
- Dental benefits including orthodontia benefits for adults and children.
- Vision benefits.
- Health Care & Dependent Care Flexible Spending Accounts.
- Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children.
- Company-paid Disability benefits with very competitive salary continuation payments.
- 401(k) Retirement Savings Plan with competitive employer contributions.
- Competitive paid-time-off programs, including company-paid holidays.
- Competitive Parental Leave Benefits & Adoption Assistance program
- Employee Assistance Program
- Tax-Free Commuter Benefit
- Tuition Reimbursement & Professional Qualification benefit
Sompo International is an equal opportunity employer committed to a diverse workforce. M/F/D/V
Visit our website at www.sompo-intl.com
Job Type: Full-time
Pay: $90,000.00 - $145,000.00 per year
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Vision insurance
Schedule:
- 8 hour shift
- Monday to Friday
Work setting:
Ability to Relocate:
- New York, NY 10020: Relocate before starting work (Required)
Work Location: In person