Complex Claims Consultant - Life Insurance Agent / Broker Dealer

You have a clear vision of where your career can go. And we have the leadership to help you get there. At CNA, we strive to create a culture in which people know they matter and are part of something important, ensuring the abilities of all employees are used to their fullest potential. 

CNA is one of the premier providers of professional liability insurance. We are currently seeking a claim professional to handle professional liability claims for our Financial Lines claim group. The individual in this position will handle a mix of primary and excess E&O claims in our Financial Lines group arising under policies issued to our life agent, broker-dealer, and investment advisor, banking and insurance customers. These claims can be complex in nature and valued in the multimillion dollar range. Insurance litigation and/or coverage analysis experience is preferred. The qualified candidate must be able to produce high quality written work product and meaningfully collaborate with and provide insight to our business partners on claims and policy wording questions. The individual in this role will operate within specific limits of authority to negotiate and settle claims and attend mediations. Critical to success in this role is the ability to be highly organized, independently motivated and responsive/communicative.

This individual contributor position works under moderate direction, and within defined authority limits, to manage Financial Lines claims with moderate to high complexity and exposure for a specialized line of business. Responsibilities include investigating and resolving claims according to company protocols, quality and customer service standards. Position requires regular communication with customers and insureds and may be dedicated to specific account(s).

Location: Chicago, IL or New York City, NY preferred, but candidates near any CNA location will be considered.

JOB DESCRIPTION:

Essential Duties & Responsibilities

Performs a combination of duties in accordance with departmental guidelines:

• Manages an inventory of high complexity and exposure Financial Lines claims by following company protocols to verify policy coverage, conduct investigations, develop and employ resolution strategies, and authorize disbursements within authority limits.
• Ensures exceptional customer service by managing all aspects of the claim, interacting professionally and effectively with insureds, claimants and business partners, achieving quality and cycle time standards, providing timely updates and responding promptly to inquiries and requests for information. 
• Verifies coverage and establishes timely and adequate reserves by reviewing and interpreting policy language and partnering with coverage counsel on more complex matters, estimating potential claim valuation, and following company's claim handling protocols.
• Conducts focused investigation to determine compensability, liability and covered damages by gathering pertinent information, such as financial records, contracts or other documents, and working with defense counsel, experts, or other parties, as necessary to verify the facts of the claim.
• Establishes and maintains working relationships with appropriate internal and external work partners, suppliers and experts by identifying and collaborating with resources that are needed to effectively resolve claims. 
• Resolves claims by collaborating with internal and external business partners to develop, own and execute a claim resolution strategy, that includes management of timely and adequate reserves, collaborating with coverage experts, negotiating complex settlements, partnering with counsel to manage complex litigation and authorizing payments within scope of authority.
• Establishes and manages claim budgets by achieving timely claim resolution, selecting and actively overseeing appropriate resources, authorizing expense payments and delivering high quality service in an efficient manner.
• Realizes and addresses subrogation/salvage opportunities or potential fraud occurrences by evaluating the facts of the claim and making referrals to appropriate Claim, Recovery or SIU resources for further investigation.
• Achieves quality standards on every file by following all company guidelines, achieving quality and cycle time targets, ensuring proper documentation and issuing appropriate claim disbursements.
• Keeps senior leadership informed of significant risks and losses by completing loss summaries, identifying claims to include on oversight/watch lists, and preparing and presenting succinct summaries to senior management.
• Maintains subject matter expertise and ensures compliance with state/local regulatory requirements by following company guidelines, and staying current on commercial insurance laws, regulations or trends for line of business.
• Mentors, guides, develops and delivers training to less experienced Claim Professionals.

May perform additional duties as assigned.

Reporting Relationship

• Typically Director or above
   

Skills, Knowledge & Abilities

• Advanced technical and product specific expertise, claims resolution skill and knowledge of insurance and claims principles, practices and procedures. This position requires demonstrated ability to handle litigated matters, including selection and direction of counsel, and formulation and execution of resolution strategies and strategic coordination with counsel, insureds, brokers and other insurers under duty to defend and reimbursement policies.
• Thorough knowledge of the commercial insurance industry, products, policy language, coverage, and claim practices.
• Strong communication, negotiation and presentation skills both verbal and written, including the ability to communicate business and technical information clearly.
• Demonstrated analytical and investigative mindset with critical thinking skills and ability to make sound business decisions, and to effectively evaluate and resolve ambiguous, complex and challenging business problems.  
• Strong work ethic, with demonstrated time management and organizational skills.
• Ability to work in a fast-paced environment at high levels of productivity.
• Demonstrated ability to negotiate complex settlements.
• Experience interpreting complex commercial insurance policies and coverage. 
• Ability to manage multiple and shifting priorities in a fast-paced and challenging environment.
• Knowledge of Microsoft Office Suite and ability to learn business-related software.
• Demonstrated ability to value diverse opinions and ideas.

Education & Experience

• Bachelor's Degree or equivalent experience. Juris Doctorate is preferred.
• Typically a minimum six years of relevant experience, preferably in Professional Liability claim handling or a minimum of six years in a law firm handling Professional Liability matters
• Must have or be able to obtain and maintain an Insurance Adjuster License within 90 days of hire, where applicable
• Prior negotiation experience
• Professional designations preferred (e.g. CPCU)

#LI-Hybrid #LI-CP1

In certain jurisdictions, CNA is legally required to include a reasonable estimate of the compensation for this role. In District of Columbia,California, Colorado, Connecticut, Illinois, Maryland, Massachusetts, New York and Washington, the national base pay range for this job level is $72,000 to $141,000 annually. Salary determinations are based on various factors, including but not limited to, relevant work experience, skills, certifications and location. CNA offers a comprehensive and competitive benefits package to help our employees – and their family members – achieve their physical, financial, emotional and social wellbeing goals.  For a detailed look at CNA’s benefits, please visit cnabenefits.com.

CNA is committed to providing reasonable accommodations to qualified individuals with disabilities in the recruitment process. To request an accommodation, please contactleaveadministration@cna.com.