Simplify Logo

Full-Time

Sr. Litigation Claims Analyst

Posted on 9/16/2024

Core Specialty

Core Specialty

Food & Agriculture
Financial Services
Healthcare

Senior

No H1B Sponsorship

Michigan, USA

Hybrid position requiring some in-office presence.

Category
Risk & Compliance
Legal & Compliance
Requirements
  • Licenses to be obtained where required by a state to adjust claims within that state.
  • Knowledge of third-party liability claims handling and risk transfer analysis / coverage analysis required.
  • Knowledge of first party commercial auto claims and security guard claims handling preferred.
  • Bachelor’s degree required.
  • Minimum 5 plus years of claims experience preferred.
  • Law degree strongly preferred.
  • Previous experience in a similar role.
Responsibilities
  • Provide early contact with insured to identify witnesses, employees, contracts, other relevant documents and to obtain insured’s knowledge of the allegations in the claim/suit.
  • Analyze coverage for application to claim and prepare coverage position letters including reservation of rights, disclaimers, tender to other parties and acceptance of tenders to insured where appropriate.
  • Confer with internal and external coverage counsel where necessary to clarify coverage position and coverage litigation.
  • Communicate with underwriting as to insured’s risk potential and for clarification of policy language intent.
  • Maintain diaries for file tasks, settlement conferences, mediations, and trial.
  • Oversee defense counsel from initial assignment of defense and throughout litigation to ensure timely reporting, confirmation of defense strategy and analysis of new developments.
  • Collaborate with defense counsel to develop early litigation or settlement strategy.
  • Ensured that Defense Counsel provides timely pretrial reports.
  • Maintain claim files, notes and documentation which comply with both internal guidelines and external regulations to include analysis of liability, damages, adequacy of reserves and outline of plan or next steps.
  • Prepare internal reports for file documentation and early identification of significant reserve increases for presentation to management and upper management for review.
  • Communicate with manager as to critical new developments and significant reserve increase recommendations, and potential settlement recommendations above handler’s settlement authority.
  • Timely communication and reporting of critical or new developments to exterior carriers including coverage, litigation developments, reserves, and potential settlement opportunities.
  • Review and approve litigation budgets submitted by Defense Counsel.
  • Regular review and updating of claim files that remain open but currently inactive and are not generating claim activity.
  • Evaluate inactive claims for closure and removal of reserves.
  • Attend mediation and settlement conferences when required to facilitate and negotiate settlement.
  • Monitor and approve/reject litigation expenses recommended by Defense Counsel.
  • Prepare settlement drafts and review of releases for accuracy.
  • This role may require occasional travel for matters that cannot be handled through video conference.

Company Stage

M&A

Total Funding

N/A

Headquarters

Cincinnati, Ohio

Founded

N/A

Simplify Jobs

Simplify's Take

What believers are saying

  • The upgrade in credit ratings by AM Best reflects Core Specialty's strong financial health and stability.
  • Investment in Gramercy Risk indicates a commitment to expanding their portfolio and diversifying risk.
  • The partnership with AllDigital Specialty enables Core Specialty to offer efficient and competitive digital solutions, potentially increasing market share.

What critics are saying

  • The integration of acquired companies like Lancer Insurance could pose operational challenges and cultural mismatches.
  • Focusing on niche markets may limit growth opportunities compared to more diversified insurers.

What makes Core Specialty unique

  • Core Specialty's strategic partnerships, such as with AllDigital Specialty, leverage low-touch/no-touch technology to streamline operations, setting them apart in the insurance market.
  • The company's focus on niche markets like small to medium-sized private and nonprofit organizations allows it to cater to specific needs that larger insurers might overlook.
  • Recent mergers and acquisitions, including the merger with Lancer Insurance Company, enhance Core Specialty's market presence and operational capabilities.

Help us improve and share your feedback! Did you find this helpful?

INACTIVE