Claims Specialist II

EVEREST REINSURANCE CO • Warren, NJ • 7h ago

Title:Claims Specialist IICompany:Everest Insurance CompanyJob Category:ClaimsJob Description:Everest Group, Ltd. (Everest), is a leading global reinsurance and insurance provider, operating for nearly 50 years through subsidiaries in North America, Latin America, the UK & Ireland, Continental Europe and Asia Pacific regions. Throughout our history, Everest has maintained its discipline and focuses on creating long-term value through underwriting excellence and strong risk and capital management. Our strengths include extensive product and distribution capabilities, a strong balance sheet, and an innovative culture. Our most critical asset is our people. We offer dynamic training & professional development to our employees. We also offer generous tuition/continuing education reimbursement programs, mentoring opportunities, flexible work arrangements, and Colleague Resource Groups.Role OverviewThis individual will primarily manage Surety claims and pre-claim matters, including investigating contract and commercial surety bond claims. They will work within defined authority limits on assignments that involve significant technical complexity and coordination. By applying claims policies and guidelines, they will review coverage, assess liability and compensability, identify and implement loss mitigation strategies, and negotiate and resolve claims. This is a hybrid role (3 days in office/2 days remote) based in in Warren NJ, Atlanta, Philadelphia, Boston, or Chicago office.Key responsibilities include but are not limited to: Performs a combination of duties in accordance with departmental guidelines. Interprets complex bond coverages and determines if coverages apply to claims submitted, escalating issues as needed. Sets reserves and authorizes payments within scope of authority. Ensures issuance of disbursements while managing loss costs and expenses. Coordinates and performs investigations and evaluates claims and suits through contact with principals, claimants, business partners, counsel, and experts. Seeks early resolution opportunities; utilizes negotiation skills to develop complex settlement packages; identifies claims with recovery potential and coordinates with subrogation/salvage unit. Partners with attorneys, account representatives, agents, underwriters, and principals to develop a focused strategy for timely and cost-effective resolution of more complex claims. Analyses claims activities. Prepares and presents reports for management. May be responsible for special projects and presentations. Responsible for input of data that accurately reflects claim circumstances and other information important to our business outcomes. May provide guidance and assistance to other claims staff and functional areas. Partners with the Underwriting teams with regards to marketing the Surety product. Provide Underwriting teams with data and metrics regarding claims trends and market insights. Stays up-to-date with state and territory regulations, industry activities, trends, and emerging issues.Qualifications, Education & Experience: 3+ years of experience managing specialty or surety claims or Juris Doctor with 2+ years of law firm experience. Demonstrable technical expertise and product specific knowledge. Strong interpersonal communication and negotiation skills. Ability to effectively interact with all levels of Everest's internal and external business partners. Ability to work independently managing time and resources to accomplish multiple tasks and meet deadlines. Strong analytical and problem-solving skills enabling viable alternative solutions. Ability to exercise independent judgement and make critical business decisions effectively assessing the merits of claims as well as evaluating claims based on a cost benefit analysis. Solid knowledge of Microsoft Office suite as well as other business-related software. Ability to adapt to change and value diverse opinions and ideas. Ability

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