What are the responsibilities and job description for the Financial Products Claims Representative position at Great American Insurance Group?
Great American entered the Surety market 90 years ago, bringing a history of strong performance, secure resources and a broad appetite for business opportunity to this important industry segment.
Agents and customers rely on the expert underwriting, solid financial strength, market leadership and personal service they receive from the Bond Division. With a highly diverse product line that includes both Commercial and Contract solutions, the division is one of the leading surety companies in the United States with loss results that are well below the industry average.
While the Division continues to be one of the largest writers of Contract bonding, they are also a leading provider of Commercial Surety bonds with an emphasis on Miscellaneous, License & Permit, Court, Fiduciary and Public Official bonds.
The Surety Bond Claims team is currently in search of a Financial Products Claims Representative/Specialist to join our team in Cincinnati, OH.
Essential Job Functions and Responsibilities
- Investigates, evaluates and adjusts small to mid-sized commercial surety bond claims.
- Reviews and evaluates coverage and/or liability.
- Secures necessary information (i.e., reports, bonds, credit limits, policies, appraisals, releases, statements, or other documents) to assist in the investigation of claims.
- Retains and directs approved consultants and outside counsel. Responsible for maintaining cost controls and overseeing the work of outside counsel.
- Determines available avenues of recovery and their cost-effectiveness; coordinates approved recovery effort.
- Establishes and maintains proper loss, salvage, and subrogation reserves.
- Prepares periodic claims reports and financial evaluations.
- Affects settlements/reserves within prescribed limits and submits recommendations to supervisor on cases exceeding personal authority.
- Ensures that claims payments are issued in a timely and accurate manner.
- Ensures compliance of claims handling pursuant to all state, legal, statutory, and regulatory bodies to comply with all company procedures and requirements.
- Performs other duties as assigned.
Job Requirements
Education: Bachelor’s Degree or equivalent experience. (JD or paralegal experience a plus)
Field of Study: Business, Liberal Arts, Finance or a related discipline
Experience: Generally, 6 months to 3 years of related experience.
This job is non-exempt in California
Additional Job Description
Scope of Job: Works within specific limits and authority on assignments of moderate technical complexity. Possesses functional knowledge and skills that are reflective of a fully competent practitioner. Performs work under moderate supervision
