Complex Claims Specialist

Company Details Vela Insurance Services provides specialized Excess and Surplus Lines Casualty and Professional Liability insurance solutions in the following market segments: Construction, Specialty Casualty, & Professional Liability. We offer national service and local knowledge to our exclusive wholesale broker network and the businesses they serve. The company is an equal opportunity employer. Responsibilities Analyze coverage, identify coverage issues, and prepare coverage letters for supervisor approval Investigate and evaluate liability Investigate and evaluate damages Manage litigation by assigning counsel from the approved panel where applicable, establishing litigation plans and budgets, coordinating with defense counsel, and continuously reviewing the potential for resolution Establish timely reserves within authority and re-evaluate throughout the life of the claim Maintain up-to-date, appropriate file documentation and written file notes Maintain an active diary and productive file inventory Timely complete all required large loss reporting Negotiate settlements within authority limits and attend mediations, Mandatory Settlement Conferences, and/or Alternative Dispute Resolutions Proactively control the work product and expense of outside vendors Develop and maintain positive customer relationships and provide superior customer service Timely identify all potential opportunities for co-insurance, transfer of risk, and/or subrogation Work with designated assigned accounts Recognize and investigate fraud Comply with deductible/self-insured retention recovery protocol Meet all State licensing requirements Adhere to all statutory regulations, Unfair Claims Practices acts, and corporate Best Practices Serve as mentor for claims associates and provide technical advice Assist management with administrative tasks as needed Perform other duties as assigned Qualifications Eight (8) or more years of claims handling experience or equivalent experience In-depth knowledge of the insurance industry, including legal and regulatory environments Specific knowledge and expertise in New York Labor law and construction-related claims (preferred) Education Requirement Four (4) year college degree, or commensurate experience and training JD preferred Industry designations preferred (e.g., CRIS, AIC, SCLA) New York adjuster’s license a plus Additional Company Details We do not accept unsolicited resumes from third party recruiting agencies or firms. Benefits The company offers a competitive compensation plan and robust benefits package for full time regular employees which for this role includes: Base Salary Range: $135,000 - 150,000. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, the training, credentials and experience of the candidate; and other conditions of employment. This role is eligible to participate in the annual discretionary bonus program. Benefits: Health, Dental, Vision, Life, Disability, Wellness, Paid Time Off, 401(k) and Profit-Sharing plans. Sponsorship Details Sponsorship not Offered for this Role #J-18808-Ljbffr Vela Insurance Services (a Berkley Company)