Full-Time

Senior Claims Specialist

Cyber

Posted on 11/8/2024

Markel

Markel

1,001-5,000 employees

Specialty insurance and reinsurance provider

Fintech
Financial Services

Compensation Overview

$83.6k - $110.8kAnnually

+ 25% Bonus Potential

Mid, Senior

No H1B Sponsorship

Boston, MA, USA + 13 more

More locations: Summit, NJ, USA | Shrewsbury, NJ, USA | Canoga Park, Los Angeles, CA, USA | Plano, TX, USA | Richmond, VA, USA | Chicago, IL, USA | Norridge, IL, USA | Alpharetta, GA, USA | Henderson, NV, USA | Omaha, NE, USA | Scottsdale, AZ, USA | New York, NY, USA | Denver, CO, USA

Requires 3 days in the office and 2 days remote.

Category
Legal
Risk & Compliance
Legal & Compliance
Requirements
  • 3-5 years of cyber and/or professional liability claims experience or litigation experience required. Excess liability (quota share, first layer and high layer) claims or litigation experience a plus.
  • College degree and/or professional designation required, JD preferred.
  • Excellent written and oral communication skills.
  • Sound comprehension of insurance coverage posed by cyber and excess liability policies.
  • Ability to analyze and convey summations of complex issues both verbally and in writing; recognize alternative approaches and develop action plans.
  • Experience in determining contractual obligations, insurance coverage analyses, and investigations. Insurance coverage litigation experience a plus.
  • Ability to manage complex litigation, set loss and expense reserves and evaluate settlement values.
  • Work collaboratively and as team player willing to assist within the Unit and Professional Liability Division as needed.
  • Ability to proactively self-manage a high volume caseload.
  • Travel required as necessary (approximately 20%).
  • US Work Authorization required. Markel does not provide visa sponsorship for this position, now or in the future.
Responsibilities
  • Investigate, negotiate and settle primary and excess cyber, privacy liability and technology E&O claims.
  • Investigate and analyze coverage under primary and excess cyber and errors and omissions policies; make coverage determinations; draft routine and complex coverage correspondence; effectively communicate coverage positions to policyholders and other stakeholders; manage claims involving coverage litigation.
  • Manage litigation filed nationwide against insureds; appoint, direct and manage defense counsel; proactively work toward expeditious and economical resolution of claims; assist Company claims vendor management, disbursement and legal collections teams with defense counsel, bill payment and collection issues.
  • Communicate with underwriting as needed to manage claims and to alert of any significant developments.
  • Promptly communicate with Unit and internal partners on adverse developments and provide information on pertinent issues affecting the cyber product lines and coverages.
  • Proven ability to work in a collaborative team environment. Analyze and convey summations of complex issues; recognize alternative approaches and develop action plans, both orally and in written form.
  • Maintain and adhere to Markel’s guidelines and procedures.
  • Ensure proper adherence to internal reporting requirements.
  • Contribute and assist in the implementation of a wide range of initiatives, discussion and action plans brought forth by the Claims Manager.
  • Participate in agent related functions and meetings as required.
  • Actively participate in the ongoing training and development of the claims examiners as indicated by Claims Manager.

Markel provides specialty insurance, reinsurance, and investment services, focusing on hard-to-place risks in niche markets. Their products include coverage for agricultural and equine risks, reinsurance for large enterprises like oil rigs, event cancellation insurance, inland marine coverage for fine art, environmental pollution, and insurance for recreational vehicles such as yachts and motorcycles. Markel's approach emphasizes understanding customer needs and delivering quality service, while fostering a workplace culture that encourages personal growth and teamwork. Unlike many competitors, Markel prioritizes flexibility and spontaneity in its operations, aiming to continuously improve and innovate. The company's goal is to lead in its industry by providing tailored insurance solutions and maintaining a commitment to integrity and excellence.

Company Stage

IPO

Total Funding

N/A

Headquarters

Glen Allen, Virginia

Founded

1930

Simplify Jobs

Simplify's Take

What believers are saying

  • Growing demand for cyber insurance presents expansion opportunities for Markel's specialty offerings.
  • ESG investing trends align with Markel's expertise in environmental liability coverage.
  • Expansion in Asia's art market boosts demand for Markel's inland marine coverage.

What critics are saying

  • Increased competition in specialty insurance could impact Markel's market share.
  • Rising natural disasters may lead to higher claims and underwriting losses.
  • Regulatory changes post-Brexit could affect Markel's reinsurance and tax insurance operations.

What makes Markel unique

  • Markel specializes in niche markets like agricultural, equine, and environmental pollution insurance.
  • The company offers unique coverage for hard-to-place risks, such as inland marine and yachts.
  • Markel's investment in Certa enhances its tax and contingent risk insurance offerings.

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