Claims Officer - Financial Lines Directors & Officers
Pay Philosophy
The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.
Description
Liberty Mutual has an immediate opening for a Claims Officer. The Claims Officer, with minimal supervision, independently handles a book of Directors and Officers Specialty Lines claims throughout the entire claim's life cycle. The Claims Officer is responsible for conducting investigations, setting adequate reserves, monitoring, documenting, and settling/closing claims in an expeditious and economical manner within the established authority limits.
Claims Officer Salary: $103,400 - 192,700 (varies due to the cost-of-living differences for different states across the country)
Annual FTO Days Accrual: 2.0 days per month, up to 20 days per year
Responsibilities
Analyzes, investigates, and evaluates the loss to determine coverage and claim disposition.
Utilizes the company's claim system to document claims and to diary future events or follow-up.
Within prescribed settlement authority, establishes appropriate reserves for both indemnity and expense and reviews on a regular basis to ensure adequacy.
Makes recommendations to set reserves at appropriate level for claims outside of authority level.
Prepares comprehensive reports as required.
Identifies and communicates specific claim trends and account and/or policy issues to management and underwriting.
Manages and/or monitors the litigation process depending on insurance policy attachment point
Adheres to the line of business litigation guidelines to include budget, bill review and payment.
Pro-actively manages the case resolution process.
Actively participates in mediations and arbitrations, as well as negotiation discussions.
Participates in the claims audit process.
Provides claims marketing services by meeting with brokers, risk managers and reinsurers.
As required, maintains insurance adjuster licenses.
Qualifications
Juris Doctor required
Minimum 7- 10 years' experience specializing in the adjudication of complex Commercial and Financial Institution Directors & Officers claims including but not limited to: securities class actions, shareholder derivative class actions, regulatory investigations, anti-trust litigations, bankruptcy trustee litigations, fiduciary liability/ERISA pension trust litigation, private equity/venture capital Litigation, financial advisors/ broker dealers litigation and insurance company E&O litigation.
Ability to understand and analyze the corporate structures of our insureds' businesses and their operations
Proven ability to provide coverage, liability and damages analyses for complex claims involving public and privately held corporations
A complete and thorough understanding of coverages provided by D&O, E&O and D&O/E&O blended insurance policies
Functional knowledge of law and insurance regulations in various jurisdictions
Ensure timely reporting of loss exposures to Claims and Underwriting Management
Demonstrated superior verbal and written communications skills
Proficient in Microsoft WORD, Excel and PPT
About Us
As a purpose-driven organization, Liberty Mutual is committed to fostering an environment where employees from all backgrounds can build long and meaningful careers. Through strong relationships, comprehensive benefits and continuous learning opportunities, we seek to create an environment where employees can succeed, both professionally and personally.
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
We are proud to support a diverse, equitable and inclusive workplace, where all employees feel a sense of community, belonging and can do their best work. Our seven Employee Resource Groups (ERGs) offer a centralized, open space to bring employees and allies together to connect, learn and engage.
We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits
Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.
Fair Chance Notices
California
Los Angeles Incorporated
Los Angeles Unincorporated
Philadelphia
San Francisco
Apply Now
The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.
Description
Liberty Mutual has an immediate opening for a Claims Officer. The Claims Officer, with minimal supervision, independently handles a book of Directors and Officers Specialty Lines claims throughout the entire claim's life cycle. The Claims Officer is responsible for conducting investigations, setting adequate reserves, monitoring, documenting, and settling/closing claims in an expeditious and economical manner within the established authority limits.
Claims Officer Salary: $103,400 - 192,700 (varies due to the cost-of-living differences for different states across the country)
Annual FTO Days Accrual: 2.0 days per month, up to 20 days per year
Responsibilities
Analyzes, investigates, and evaluates the loss to determine coverage and claim disposition.
Utilizes the company's claim system to document claims and to diary future events or follow-up.
Within prescribed settlement authority, establishes appropriate reserves for both indemnity and expense and reviews on a regular basis to ensure adequacy.
Makes recommendations to set reserves at appropriate level for claims outside of authority level.
Prepares comprehensive reports as required.
Identifies and communicates specific claim trends and account and/or policy issues to management and underwriting.
Manages and/or monitors the litigation process depending on insurance policy attachment point
Adheres to the line of business litigation guidelines to include budget, bill review and payment.
Pro-actively manages the case resolution process.
Actively participates in mediations and arbitrations, as well as negotiation discussions.
Participates in the claims audit process.
Provides claims marketing services by meeting with brokers, risk managers and reinsurers.
As required, maintains insurance adjuster licenses.
Qualifications
Juris Doctor required
Minimum 7- 10 years' experience specializing in the adjudication of complex Commercial and Financial Institution Directors & Officers claims including but not limited to: securities class actions, shareholder derivative class actions, regulatory investigations, anti-trust litigations, bankruptcy trustee litigations, fiduciary liability/ERISA pension trust litigation, private equity/venture capital Litigation, financial advisors/ broker dealers litigation and insurance company E&O litigation.
Ability to understand and analyze the corporate structures of our insureds' businesses and their operations
Proven ability to provide coverage, liability and damages analyses for complex claims involving public and privately held corporations
A complete and thorough understanding of coverages provided by D&O, E&O and D&O/E&O blended insurance policies
Functional knowledge of law and insurance regulations in various jurisdictions
Ensure timely reporting of loss exposures to Claims and Underwriting Management
Demonstrated superior verbal and written communications skills
Proficient in Microsoft WORD, Excel and PPT
About Us
As a purpose-driven organization, Liberty Mutual is committed to fostering an environment where employees from all backgrounds can build long and meaningful careers. Through strong relationships, comprehensive benefits and continuous learning opportunities, we seek to create an environment where employees can succeed, both professionally and personally.
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
We are proud to support a diverse, equitable and inclusive workplace, where all employees feel a sense of community, belonging and can do their best work. Our seven Employee Resource Groups (ERGs) offer a centralized, open space to bring employees and allies together to connect, learn and engage.
We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits
Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.
Fair Chance Notices
California
Los Angeles Incorporated
Los Angeles Unincorporated
Philadelphia
San Francisco
Apply Now