Senior Claim Counsel (Financial Institutions)

Princeton, NJ
Full Time
Job #: CLA0002D7 Exp.: 12+ Years

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Job Summary
This is a Senior Claim Counsel position in the Management Liability, Financial Institutions & Technology Claim Group. The individual in this position will focus on high severity Directors & Officers and Errors & Omissions claims under policies issued to depository institutions, insurance companies, asset managers, REITs, and private equity and venture capital firms. Given the complexity of and significant financial risk posed by these claims, the qualified candidate is required to be a licensed attorney. Ideally, the candidate will have a minimum of twelve years of relevant experience. The individual in this position will have responsibility for handling approximately 75 of the unit’s highest severity matters at any given time. The position requires the ability to independently evaluate liability and coverage; formulate and execute claim resolution strategies; and, without the assistance of counsel, attend mediations, navigate complex settlement dynamics and drive and influence outcomes on high severity and high profile matters.

The individual in this role will collaborate closely with our underwriters on policy language and add value on accounts from the claims perspective. The role requires excellent leadership and market facing skills. As a senior member of the team, this position will also require mentoring more junior team members and providing coaching in analyzing and formulating strategies on complex files. New York preferred, but will consider other locations.

Essential Duties & Responsibilities
  • Handles complex, high severity professional liability claims requiring legal analysis of complicated liability, damages and coverage issues. Drafts coverage letters, memos and reports. Represents CNA in settlement negotiations with independent authority to commit CNA. Interacts with multiple parties (e.g., insureds, brokers, claimants), frequently via their counsel. Directs and manages coverage counsel and coverage litigation against CNA.
  • Partners with underwriters to effectively respond to policy wording requests and other policy or claim related inquiries from brokers and customers. Works directly with brokers and customers to address similar issues.
  • Meets with brokers and existing or prospective clients as part of business marketing, growth and retention strategies. Works with senior claim and underwriting leadership to develop and analyze new products and to identify, evaluate and track claim trends and issues.
  • Provides technical guidance and oversight to junior staff members. Develops and presents training seminars on key legal and industry issues/trends for the Open Brokerage organization (claims, underwriters and actuaries). Represents CNA on panels at industry conferences.
  • May perform additional duties as assigned.

Reporting Relationship
Typically AVP and above.

Skills, Knowledge & Abilities
  • Senior level advanced knowledge of the theories, principles, practices and procedures of litigation management within an insurance organization.
  • The highest level of technical and product specific expertise, claims resolution skill and knowledge of insurance and claims principles, practices and procedures.
  • Excellent verbal and written communication, negotiation and presentation skills.
  • Ability to exercise independent judgment, and to work with and maintain confidential and sensitive information.
  • Excellent analytical and problem solving skills, and senior level skill in managing ambiguous situations and issues.
  • Proven ability to take a proactive long-term view of business goals and objectives in order to achieve strategic business results.
  • Knowledge of Microsoft Office Suite and other business-related software.

Education & Experience
  • Bachelor's degree with JD, and admission to the bar of at least one state.
  • Typically a minimum of twelve years of claims and/or legal experience with a proven track record of results.

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