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A Surety Claims role, and under technical direction, investigates and maintains commercial surety bond claims. Works within specific limits of authority on assignments of significant technical complexity matters. Utilizing claims policies and guidelines, reviews bond coverages, determines liability and compensability, secures documentation and information, and negotiates and settles claims.
JOB DESCRIPTION:
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
Interprets commercial surety bond coverages and determines if coverages apply to claims submitted, escalating issues as needed.
Sets activities, reserves and authorizes payments within scope of authority. Ensures issuance of disbursements while managing loss costs and expenses.
Coordinates and performs investigations and evaluates claims and lawsuits through contact with principals, claimants, attorneys and state licensing boards. Seeks early resolution opportunities. Identifies files that have potential fraud and refers to SIU.
Retains attorneys to represent the surety in lawsuits and provides guidelines for the attorneys to follow.
Partners with attorneys to develop a focused strategy for timely and cost-effective resolutions of more complex claims, especially if in litigation.
Utilizes problem-solving and negotiation skills to analyze and determine coverage under the bond.
Prepares and presents reports for management, as necessary. May be responsible for special projects and presentations.
Identifies claims with salvage recovery potential and assigns files to the subrogation/salvage team to recover paid losses and/or expenses.
Responsible for input of data that accurately reflects claim circumstances and other information important to our business outcomes.
May provide guidance and assistance to other claims staff and functional areas.
Obtain and maintain required claims analyst state insurance licenses.
Keeps current on state/territory regulations and issues as well as industry activity and trends.
Reporting Relationship
Manager or Director
Skills, Knowledge and Abilities
1. Solid knowledge of claims and insurance industry theory and practices, surety knowledge a plus.
2. Demonstrated technical expertise and product specific knowledge.
3. Strong interpersonal, communication, negotiation and writing skills.Ability to present clear, well-written responses to claimants and principals.Ability to effectively interact with all levels of CNA's internal and external business partners.
4. Ability to work independently, managing time and resources to accomplish multiple tasks and meet deadlines.
5. Strong analytical and problem solving skills enabling viable alternative solutions.
6. Ability to exercise independent judgement and make critical business decisions effectively assessing the merits of claims as well as evaluating claims based on a cost benefit analysis.
7. Solid knowledge of Microsoft Office Suite as well as other business-related software.
8. Ability to adapt to change and value diverse opinions and ideas.
9. Ability to fully comprehend claim information; and to further articulate analyses of claims in internal reports.
10. Ability to handle claims with a proactive long-term view of business goals and objectives.
Education and Experience
1. Bachelor's degree or equivalent experience. Professional designations preferred.
2. Typically a minimum three to five years claims experience.
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In certain jurisdictions, CNA is legally required to include a reasonable estimate of the compensation for this role. In District of Columbia,California, Colorado, Connecticut, Illinois, Maryland, Massachusetts, New York and Washington, the national base pay range for this job level is $54,000 to $103,000 annually. Salary determinations are based on various factors, including but not limited to, relevant work experience, skills, certifications and location. CNA offers a comprehensive and competitive benefits package to help our employees – and their family members – achieve their physical, financial, emotional and social wellbeing goals. For a detailed look at CNA’s benefits, please visit cnabenefits.com.
CNA is committed to providing reasonable accommodations to qualified individuals with disabilities in the recruitment process. To request an accommodation, please contactleaveadministration@cna.com.
