Claims Adjuster - Financial Institutions

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Lancer Claims Services

Claims Adjuster–Financial Institutions

Summary:

The Claims Adjuster–Financial Institutions is the lead adjuster on the programs in which he/she handles claims for the financial services group where the pending is comprised mostly of large national accounts; analyze coverage under professional liability policies, including but not limited to, Securities Broker/Dealer Insurance, Investment Management Insurance, Financial Institution Professional Liability Insurance and Life Agents Professional Liability Insurance. Manage litigation and engage in settlement negotiations daily with outside counsel and claimants; attend mediations; this would require better than ordinary knowledge of the coverages, types of claims, and problems/solutions on the program.  She/he is a troubleshooter for the account.

Ideal candidates will have experience as a securities attorney, 5 years handling securities claims, or 3+ years engaged in the selling and servicing of various financial products such as annuities, life insurance, securities etc.  Ideal candidates may also have 3+ years in a compliance roll handling financial institutions customer complaints.

Essential Duties include:

• Exercise judgment in applying legal liability to assigned claims and will have full settlement authority up to their specific authority, which may vary from carrier to carrier.
• Assign defense counsel to answer and defend lawsuits when appropriate.  Monitor and direct defense counsel, independent adjusters and experts.
• Secure supporting documentation for assigned claims E&O, e.g.: insured’s file materials and notes, underwriting guidelines, carrier’s investigation package, phone logs, etc.  Investigate facts of underlying loss by securing statements and supporting documentation such as copy of policy, police reports, estimates of repair, new account profile, risk tolerance questionnaire, etc.
• Identify claims with potential exposure in excess of authority and advise Claims Supervisor/Team Lead and the underwriting company contact.
• Responsibilities include the overall control of a particular program.  In addition, the Claims Adjuster–Financial Institutions may also be asked to coordinate reports, statistics, results, etc. on the account.
• The Claims Adjuster–Financial Institutions may be asked to participate in general discussions on the account with the underwriting company or sponsoring company.  She/he is the chief liaison with Professional Groups at CalSurance and would be responsible for marketing calls, information, and coordination.
• Research applicable coverage for our insureds.  Document coverage dates, limits and restrictions.
• Identify and resolve any potential coverage questions.  Draft reservation of rights and coverage denials for review and approval by Coverage Senior Director.
• Handle claims within guidelines of the Fair Claims Practices 790.03.
• Provide insureds, claimants and sponsoring companies with regular updates on status of file handling.
• Discuss unique and complex files or issues with Claims Supervisor/Team Lead.
• This position may require routine or periodic travel which may require the teammate to drive their own vehicle or a rental vehicle.  Teammates who drive for the Company are subject to a Motor Vehicle Record report at the time of hire and periodically thereafter, acceptable MVR results and maintenance of minimum acceptable auto insurance coverages are a requirement.

Qualifications:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions.

Required

• 3-5 years litigation and claims management experience.
• Excellent communication skills.
• Must be licensed as a Qualified Claims Manager within 90-days of hire and in other states as needed.
• Must a critical thinker, detail oriented, have good organizational skills, and be self-motivated.
• Must be able to handle multiple and changing priorities.
• Proficient computer skills including Microsoft Office Outlook, Word, Excel, TEAMS.
• B.A or B.S required; J.D. helpful.

Our Company offers full time teammates a benefit package that includes 401k plan, employee stock purchase plan, medical, dental, vision and other voluntary products. Our Company is an Equal Opportunity Employer. We take pride in the diversity of our team and seek diversity in our applicants.

CalSurance Associates is a subsidiary of Brown & Brown Inc., listed on the New York Stock Exchange, Brown & Brown (BRO).

Pay Range

The pay range provided above is made in good faith and based on our lowest and highest annual salary or hourly rate paid for the role and takes into account years of experience required, geography, and/or budget for the role.

Teammate Benefits & Total Well-Being

We go beyond standard benefits, focusing on the total well-being of our teammates, including:

• Health Benefits: Medical/Rx, Dental, Vision, Life Insurance, Disability Insurance  
• Financial Benefits: ESPP; 401k; Student Loan Assistance; Tuition Reimbursement 
• Mental Health & Wellness: Free Mental Health & Enhanced Advocacy Services
• Beyond Benefits: Paid Time Off, Holidays, Preferred Partner Discounts and more. 

Not reflective of all benefits. Enrollment waiting periods or eligibility criteria may apply to certain benefits. Benefit details and offerings may vary for subsidiary entities or in specific geographic locations. 

The Power to Be Yourself  

We are an Equal Opportunity Employer. Brown & Brown is committed to fostering an inclusive environment comprised of people from all backgrounds, with a variety of experiences and perspectives, guided by our Diversity, Inclusion & Belonging (DIB) motto, “The Power to Be Yourself”.