BITCO Corporation, a leading provider of specialized insurance solutions is seeking a Senior Claims Specialist for our branch office located in St. Louis MO. With a strong national presence and 11 branch offices in 10 states, BITCO delivers tailored insurance services to specialized industries including construction, forest products and oil & gas.
This position is eligible for a hybrid work arrangement with required business travel to BITCO office locations and customer offices
Position Summary:
This position provides key support in the handling of claims across multiple lines of coverage, with a focus on Liability (Commercial Auto and General Liability) and large property damage/Inland Marine losses.. This includes assessing claim coverage, liability, legal and damage issues, and investigating, evaluating, and effectively resolving all assigned claims in a timely manner according to company and regulatory guidelines. Provides a high level of customer service to internal and external business partners.
Primary Responsibilities:
- Review, analyze, and interpret policy conditions, exclusions, and endorsements to resolve coverage and liability issues for assigned claims
- Prepare reservation of rights letters, nonwaiver agreements, and coverage disclaimers to address claim coverage issues
- Review and evaluate claim reserves to ensure that the respective reserve properly reflects the potential exposure
- Investigate claims to evaluate coverage and legal issues, which may include meeting with Insureds and witnesses, and obtaining statements, records, and other evidentiary materials
- Provide proper documentation and reporting of investigation and claims handling activities
- Negotiates, including through mediation, arbitration, or other court-supervised settlement efforts, settles, and resolves claims with claimants, insureds, and their lawyers; provides appropriate claims resolution documents
- Maintain a working knowledge of regulatory and jurisdictional requirements
- Provides direction to and management of defense counsel, independent adjusters and other third parties retained to assist in a particular claim
- Identify and pursue (if applicable) risk transfer opportunities
- Other duties as assigned
Qualifications:
- Minimum of 5 years of experience with the following:
- Coverage Review – interpreting policies, agreements/contracts, reservation of rights, and disclaimers
- Claims Investigation – Statements, authorizations, retention of qualified experts and counsel
- Claims Administration – Reports, review reserves, compliance knowledge of laws and procedures
- Claims Settlement – Preparation of disclaimer letters, releases, and proof of loss statements; participation in legal court proceedings when necessary
- Knowledge of coverage, negligence principles, investigation, and negotiation techniques
- Ability to obtain and maintain state adjusting licenses, as needed
- Must be service-oriented, with the ability to provide prompt, efficient, and effective claims and customer service
- Ability to communicate clearly and effectively with our customers, claimants, opposing counsel, defense counsel, and members of the public
- Ability to manage and organize workload of multiple tasks simultaneously
- Excellent judgement, negotiation, and decision making skills
- Must be able to travel between different off-site locations or overnight in an expeditious manner
- Experience in handling liability claims in Midwestern states, inclusive of MO, IL, NE, KS
Benefits:
- Competitive salary and benefits
- Paid time off and 12 paid holidays a year
- Health, dental, and vision insurance
- Company paid life insurance – 2x annual earnings
- Old Republic 401(k) Savings and Profit Sharing Plan
- Education and training opportunities
- Insurance designations encouraged with financial assistance available
- Daily two-hour flexible start and end time for 7.5-hour workday
- Employee Fitness Program