Selective Insurance is seeking a Bond Claims Manager (AVP) for either our Branchville, NJ or Charlotte, NC location.
Manages all claims functions performed in bond SBU in accordance with company bond claim policies, practices, procedures and delegated authority. Oversees collection and subrogation efforts on bond losses. Provides counsel to underwriters on legal matters as they relate to contracting, risk assessment and indemnity. Sets the tone for a professional, collaborative and enjoyable work environment.
Ensures adequacy of department's claims reserves and authorizes settlements up to designated authority limits, and submits recommendations to designated officials for those claims in excess of authority level.
Evaluates and gives guidance to staff on an ongoing basis as to their abilities and duties and makes personnel recommendations to insure proper and optimum use of personnel. Ensures continuous professional development of staff.
Drafts scripted bond forms, settlement agreements, takeover agreements, indemnity agreements and other instruments needed to settle claims or underwrite risks.
Monitors staffing, equipment, workflow, procedures and controls in order to ensure excellent customer service, timely settlement of claims, acceptable closing rations and compliance with regulatory requirements
Attends meetings with claimants as needed or required by contract or law. Actively markets with underwriters and attends broker and client meetings as necessary.Manages retention and direction of consultants and attorneys used in investigating, resolving and or litigating complex claims and recovery matters and controls allocated claims expenses
Provides legal advice to underwriters regarding contractual provisions, bond provisions and federal and local law as they affect the company's obligations under bonds and its rights under indemnity agreements and collateral arrangements
Responsible for notifying reinsurers of significant loss development as required by treaty. Works with and meets with reinsurers as needed. Prepares for and represents the claims department in internal and external audits.
10+ years surety and fidelity claims experience
3+ years claims management experience
5+ years bankruptcy experience preferred
5+ years litigation experience preferred
5+ years construction law experience preferred
1-3 years contract drafting experience preferred
Knowledge of surety law, contract law and bankruptcy law required
Ability to communicate well in writing and orally with management, colleagues, subordinates, agents, vendors and adversaries
Must be able to work independently and collaboratively as the situation warrants
Must be capable of decisiveness in the face of imperfect information
Selective is an Equal Employment Opportunity employer. Selective maintains a drug-free workplace.
Selective Insurance Group, Inc.