Claims Specialist

Company Details Vela Insurance Services provides specialized Excess and Surplus Lines Casualty and Professional Liability insurance solutions in the following four market segments: Construction, Specialty Casualty, Velocity Small Business & Professional Liability.  We offer national service and local knowledge to our exclusive wholesale broker network and the businesses they serve. Responsibilities The Claims Specialist investigates, evaluates, negotiates, and resolves litigated and non-litigated property damage, personal and advertising injury, and claims of medium exposure and complexity.  This individual will work under limited supervision, with a remote manager.  Key Functions: Analyze coverage, identify coverage issues, and prepare coverage letters for supervisor approval Investigate and evaluate liability Investigate and evaluate damages Manage litigation by assigning counsel from the approved panel where applicable, establish litigation plan and budget, coordinate with defense counsel, and continuously review the potential for resolution. Establish timely reserves within authority and re-evaluate throughout the life of the claim Maintain up-to-date, appropriate file documentation and written file notes Maintain an active diary and productive file inventory Timely completion of all required large loss reporting Negotiate settlements within authority limit granted, and attend mediations, mandatory settlement conferences, and/or alternative dispute resolutions Proactively control the work product and expense of outside vendors Develop and maintain positive customer relationships and provide superior customer service Timely identify all potential opportunities for co-insurance, transfer of risk and/or subrogation Ability to Work with designated assigned accounts Recognize and investigate fraud Comply with deductible/self-insured retention recovery protocol Meet and maintain all state licensing requirements at all times (see qualifications below) Adhere to all statutory regulations, unfair claims practices acts, and corporate best practices All other duties as assigned Qualifications Four (4) year college degree, or commensurate experience and training AIC, SCLA, CRIS or other similar industry designations preferred 3-5 or more years claims handling experience or equivalent experience In-depth knowledge of the insurance industry, including legal and regulatory environments A strong functional and developing knowledge of substantive laws and legal procedure Applicable adjusters license(s) to include: CA, CT, DE, FL, KY, LA, NH, NM, NC, OK, RI, SC, TX, VT, WV, WY Additional Company Details We do not accept unsolicited resumes from third party recruiting agencies or firms. Sponsorship Details Sponsorship not Offered for this Role