What are the responsibilities and job description for the Financial Lines Complex Claims Specialist position at Liberty Mutual?
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 Financial Lines Complex Claims Specialist. In this role, with minimal supervision, the Financial Lines Complex Claims Specialist handles a book of Private Company and Not-For-Profit Directors & Officers Liability claims and Employment Practices liability claims throughout the entire claim's life cycle. The selected person will be responsible for conducting investigations, recommending adequate reserves, monitoring, documenting, and settling/closing claims in an expeditious and economical manner within prescribed authority limits for the line of business.
Please note, you will be required to go into the office twice a month if you reside within 50 miles of one of the following offices: Westborough, MA; Hoffman Estates, IL; Indianapolis, IN; Lake Oswego, OR; Boston, MA; Las Vegas, NV; Plano, TX; Suwanee, GA; Tampa, FL; or Weatogue, CT. Please note this policy is subject to change.
This position can be filled as a Financial Lines Complex Claims Specialist I or Financial Lines Complex Claims Specialist II, based on candidate experience. Salary is also dependent on candidate location.
Financial Lines Senior Claims Specialist I salary: $82,000-157,000
Financial Lines Complex Claims Specialist II salary: $92,000 - $176,000
Responsibilities
- investigates, and evaluates the loss to determine coverage and claim disposition.
- Utilizes CMS to document claims and to diary future events or follow-up.
- Within prescribed settlement authority for line of business, 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 the litigation process through the retention of counsel.
- 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, within limit of settlement authority.
- Participates in the claims audit process.
- Provides claims marketing services by meeting with brokers, risk managers and re-insurers, as necessary.
- As required, maintains insurance adjuster licenses.
- Bachelors' and/or advanced degree
- 7 years claims/legal experience, with at least 2 years within a technical specialty preferred
- Experience with Financial Lines Claims preferred.
- Advanced knowledge of claims handling concepts, practices and techniques, to include but not limited to coverage issues, and product line knowledge
- Functional knowledge of law and insurance regulations in various jurisdictions
- Demonstrated advanced verbal and written communications skills
- Demonstrated advanced analytical, decision making and negotiation skills
As a purpose-driven organization, Liberty Mutual is committed to fostering an environment where employees from all backgrounds can build long and meaningful careers. Through strong relationships, comprehensive benefits and continuous learning opportunities, we seek to create an environment where employees can succeed, both professionally and personally.
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
We are proud to support a diverse, equitable and inclusive workplace, where all employees feel a sense of community, belonging and can do their best work. Our seven Employee Resource Groups (ERGs) offer a centralized, open space to bring employees and allies together to connect, learn and engage.
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
- Los Angeles Incorporated
- Los Angeles Unincorporated
- Philadelphia
- San Francisco
Salary : $82,000 - $157,000
