Reinsurance Claims Specialist

The Farmers Insurance Group of Companies is widely respected and well established with over 75 years of experience. We pride ourselves on the positive impact we have on our community, as an insurance and financial services organization and as an employer. If you are looking for a challenging and rewarding career, we are currently looking for: REINSURANCE CLAIMS SPECIALIST

 Summary of Duties

Investigates, evaluates, and negotiates complex claims ceded to Domestic and International Reinsurers; utilizes extensive knowledge of all lines of primary and umbrella business from a coverage and claim perspective; analyzes and interprets Reinsurance contracts for coverage of Company?s high profile, large exposure losses; prepares and presents complex claims to Reinsurers, Brokers, Reinsurance Accounting; prepares responses to Reinsurers? reservation of rights/denial letters; directs and supervises the course of arbitration/litigation of Reinsurance claims; works with Reinsurance counsel to craft complex settlement agreements with Reinsurers; responds to Reinsurer inquiries on outstanding billed amounts and pursues timely collections.

 Reviews investigations and settlements of Company?s highest profile, complex claims; completes Reinsurance coverage analyses based on the Insurance and Reinsurance claim investigation, policy language and Reinsurance treaty language, and various State and Federal laws.  Prepares detailed coverage and claim analyses/reports to Reinsurers.Prepares responses to Reinsurers? Reservations of Rights/Denial letters; consults with Underwriters and Reinsurance Brokers regarding Insurance and Reinsurance coverage interpretations and communications; and coordinates and consults with Reinsurance Coverage Counsel, SAE Legal, and Corporate Legal on Insurance and Reinsurance coverage litigation.Establishes Reinsurance Indemnity and LAE reserves to reflect Company assets; manages arbitration/litigation strategy through Reinsurance counsel; negotiates complex settlement agreements with multiple Reinsurers; and recommends course of action on disputed, arbitrated and litigated Reinsurance matters.Provides input and recommendations to Senior Claims Management, Legal, VP of Reinsurance, and Broker, on current and new Treaty/Contract wording and coverage issues.Reconciles outstanding/aging Reinsurance recoverable balances with Broker and Reinsurance Accounting Unit; utilizes LOC/OCA accounts to effect timely Reinsurance Recoveries.

 

REQUIREMENTSFour year College Degree requiredMinimum 10 years accumulated insurance/reinsurance claims experience requiredStrong Communications skills requiredProficiency in Microsoft Excel and Microsoft Word required

 

We offer professional development in a business casual work environment. Farmers also offers full time regular employees an outstanding benefits package including: 100% company-funded profit sharing plans, 100% company-funded pension plan, tuition assistance, medical, dental and vision insurance, as well as paid holidays, vacation, and personal days. Farmers Insurance is an equal opportunity employer, committed to the strength of a diverse workforce.