AVP, Claims
- Full-Time
- Morristown, NJ
- Berkley
- Posted 2 years ago – Accepting applications
Berkley Surety is a highly professional, service-oriented surety underwriting management company, providing a full spectrum of bonds for contract, environmental, and commercial surety accounts through multiple distribution channels in both the United States and Canada. We write on behalf of W. R. Berkley Corporation member company Berkley Insurance Company, which has an A.M. Best rating of A+ (Superior). We pride ourselves on building strong relationships with our agents. We highly value the insight and expertise our agency partners bring to the table which helps us provide timely and predictable surety solutions.
The AVP, Claims achieves prompt and efficient resolution of all claims in order to minimize exposure or loss and maximize recoveries to the Company. S/he supports the professional development of other claims department team members through supervision, mentoring or coaching. Duties and responsibilities include but are not limited to:
- Reviews and understands surety bond coverage in light of bond terms and applicable law and accurately assesses the surety’s position with regard to the claim.
- Independently investigates the claim including assessing the claimant’s and principal’s positions.
- Sets and maintains timely and accurate reserves in consultation with management.
- Develops and executes effective strategies for resolution of claims to mitigate the surety’s losses.
- Preserves, protects and maximizes the surety’s salvage and subrogation opportunities;
- Supports a “no surprises” culture of openness and transparency by providing timely, accurate, current and ongoing analysis, information and reports as to claims status to management.
- Assists Head of Claims or directly supervises the professional development of junior employees through supervision, mentoring and coaching.
- Assists the Head of Claims with department administration and preparing information, reports and presentations to senior management.
- Assists underwriting as may be requested by providing technical claims expertise in assessing risks and exposures
- Minimum 4-year degree required – JD or MBA preferred
- If licensed attorney, admission to practice law in at least one state is desirable.
- CPCU preferred
- A minimum of fifteen years of experience in the surety, legal or construction business with at least nine years of progressively increasing responsibility in handling surety or commercial construction claims and/or construction project completions.
- Superior knowledge of complex contract and commercial surety claims (e.g. non-routine claims, multiple parties with competing claims, litigation in multiple jurisdictions) and ability to think both strategically and practically (in considering factors such as jurisdictional environment, internal and external bond relationships in order to support claims team in developing strategies to achieve the desired claims resolution.
- Ability to take the initiative, assume ownership, and independently manage all aspects of low to high complexity surety or construction claims with minimal supervision, including effectively directing and supervising outside legal counsel and consultants.
- Ability to effectively and positively supervise, coach or mentor others to achieve consistently improving professional and technical knowledge, skills and abilities in surety claims handling.
- Advanced skills in Microsoft Word, Excel and PowerPoint with ability to quickly master BSG in-house systems.
- Maintains state, law or professional adjuster licenses as directed including complying with all CE/CLE requirements.
- Expert negotiation skills.
- Expert interpersonal, written and oral communication skills
- Expert understanding of and familiarity with both traditional litigation and the Alternative Dispute Resolution (ADR) processes is preferred.
- Must be fully vaccinated and remain fully vaccinated against COVID-19. *