Pay Philosophy
The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.
Description
Liberty Mutual has an immediate opening for a Claims Officer. The Claims Officer, with minimal supervision, independently handles a book of Directors and Officers Specialty Lines claims throughout the entire claim's life cycle. The Claims Officer is responsible for conducting investigations, setting adequate reserves, monitoring, documenting, and settling/closing claims in an expeditious and economical manner within the established authority limits.
Claims Officer Salary: $103,400 – 192,700 (varies due to the cost-of-living differences for different states across the country)
Annual FTO Days Accrual: 2.0 days per month, up to 20 days per year
Responsibilities
- Analyzes, investigates, and evaluates the loss to determine coverage and claim disposition.
- Utilizes the company's claim system to document claims and to diary future events or follow-up.
- Within prescribed settlement authority, establishes appropriate reserves for both indemnity and expense and reviews on a regular basis to ensure adequacy.
- Makes recommendations to set reserves at appropriate level for claims outside of authority level.
- Prepares comprehensive reports as required.
- Identifies and communicates specific claim trends and account and/or policy issues to management and underwriting.
- Manages and/or monitors the litigation process depending on insurance policy attachment point
- Adheres to the line of business litigation guidelines to include budget, bill review and payment.
- Pro-actively manages the case resolution process.
- Actively participates in mediations and arbitrations, as well as negotiation discussions.
- Participates in the claims audit process.
- Provides claims marketing services by meeting with brokers, risk managers and reinsurers.
- As required, maintains insurance adjuster licenses.
Qualifications
- Juris Doctor required
- Minimum 7- 10 years’ experience specializing in the adjudication of complex Commercial and Financial Institution Directors & Officers claims including but not limited to: securities class actions, shareholder derivative class actions, regulatory investigations, anti-trust litigations, bankruptcy trustee litigations, fiduciary liability/ERISA pension trust litigation, private equity/venture capital Litigation, financial advisors/ broker dealers litigation and insurance company E&O litigation.
- Ability to understand and analyze the corporate structures of our insureds' businesses and their operations
- Proven ability to provide coverage, liability and damages analyses for complex claims involving public and privately held corporations
- A complete and thorough understanding of coverages provided by D&O, E&O and D&O/E&O blended insurance policies
- Functional knowledge of law and insurance regulations in various jurisdictions
- Ensure timely reporting of loss exposures to Claims and Underwriting Management
- Demonstrated superior verbal and written communications skills
- Proficient in Microsoft WORD, Excel and PPT
About Us
**This position may have in-office requirements depending on candidate location.**
At Liberty Mutual, our purpose is to help people embrace today and confidently pursue tomorrow. That's why we provide an environment focused on openness, inclusion, trust and respect. Here, you'll discover our expansive range of roles, and a workplace where we aim to help turn your passion into a rewarding profession.
Liberty Mutual has proudly been recognized as a "Great Place to Work" by Great Place to Work® US for the past several years. We were also selected as one of the "100 Best Places to Work in IT" on IDG's Insider Pro and Computerworld's 2020 list. For many years running, we have been named by Forbes as one of America's Best Employers for Women and one of America's Best Employers for New Graduates as well as one of America's Best Employers for Diversity. To learn more about our commitment to diversity and inclusion please visit: https://jobs.libertymutualgroup.com/diversity-inclusion
We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits
Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.
Fair Chance Notices
- California
- San Francisco
- Los Angeles
- Philadelphia
