Company Details
Vela Insurance Services provides specialized Excess and Surplus Lines Casualty and Professional Liability insurance solutions in the following four market segments: Construction, Specialty Casualty, Velocity Small Business & 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 employment opportunity employer.
Company Website
Responsibilities
- Under limited supervision, investigates, evaluates, negotiates, and resolves litigated and non-litigated bodily injury, property damage, personal and advertising injury, and/or professional liability claims of high exposure and complexity.
- 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, establish litigation plan and budget, coordinate with defense counsel, and continuously review 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 limit granted, 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.
- Regular and predictable attendance.
Qualifications
- Four (4) year College Degree, or commensurate experience and training.
- JD preferred but not required.
- Industry designations preferred (CRIS, AIC, SCLA, etc.)
- 7-10 years of complex claims handling experience, including General Liability, Excess, and Professional Liability claims.
- 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.
- Prior experience as a claims manager is a plus but not required.
Additional Company Details
We do not accept any unsolicited resumes from external recruiting firms. The company offers a competitive compensation plan and robust benefits package for full-time regular employees. 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, training, credentials and experience of the candidate; and other conditions of employment.
Sponsorship Details
Sponsorship not Offered for this Role.
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