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IAT Insurance Group · 2 months ago

Surety Claims Counsel

Newark, NJ

Full-time

Hybrid

Mid, Senior Level

$83K/yr - $180K/yr

4+ years exp

IAT Insurance Group is the largest private, family-owned property and casualty insurer in the U.S. They are seeking a Surety Claims Counsel responsible for reviewing, investigating, resolving, and negotiating various bond claims while collaborating with legal and management teams. This role allows for a hybrid work schedule, offering flexibility in work location.

CommercialFinanceFinancial ServicesInsuranceInsurTech

Comp. & Benefits

No H1B

Responsibilities

Interacts with attorneys, claimants, owners and other parties, as well as field management staff to resolve claims issues and ensure cost effective solutions

Drafts and negotiates the necessary documents for each situation, such as Surety Takeover and/or Completion Agreements, settlement agreements, releases correspondence, reports and exposure analyses

Collaborates closely with underwriters in assigned regions

Reviews and analyzes work in progress schedules, costs to complete, accounts payable and receivable ledgers

Supervises work of outside counsel and consultants’ bills before submitting for approval

Recommends reserves

Manages litigation and salvage recovery actions

Analyzes payment bond claims and makes recommendations regarding payment

Select, develop, motivate and train staff to achieve objectives

Maintains awareness and knowledge of developments in statutes, regulations, and caselaw in assigned regions

Monitors and evaluates employee performance

Other job-related duties as required

Qualification

Surety Claims experienceConstruction Law experienceLicensed insurance adjusterJD degreeAnalytical skillsNegotiation skillsCommunication skillsLeadership skills

Required

JD with 4+ years of relevant Surety Claims and/or or Construction Law experience

Licensed insurance adjuster or ability to obtain insurance adjuster license in assigned regions or license with reciprocity to assigned regions

Ability to travel as needed

To qualify, all applicants must be authorized to work in the United States and must not require, now or in the future, VISA sponsorship for employment purposes