Job ID: 1007051
Date Posted: Sep 2, 2021
Department ID: TM0614 Claims - SLU
Company: Tokio Marine Management Inc.
About Tokio Marine:
Tokio Marine has been conducting business in the U.S. market for over a century and we are licensed to write all lines in 50 states, Puerto Rico and the District of Columbia. We provide unique insurance and risk management tools from our experienced staff of account executives, underwriters and loss prevention engineers and fair and timely claim settlement from a skilled team of claim professionals. We work with major brokers and leading independent insurance agents throughout the United States to serve the world's largest and most distinguished organizations.
We are committed to creating value for our customers by providing ANSHIN (safety, security and peace of mind). We strive to be creative and passionate as we work towards our long-term success.
Tokio Marine Holdings is Japan's oldest, and one of the largest property and casualty insurers. Founded in 1879, TMNF operates worldwide in 38 countries. With annual revenues of approximately $18 billion and an A.M. Best rating of A++, one of the highest in the industry, we are one of the top 20 insurance providers worldwide.
Handle litigated or complicated general liability, umbrella, liability under homeowners and other suits which may be assigned. Duties include reviewing, monitoring and directing of the activities of attorneys and outside vendors.
Primary Job Duties
1. Handle litigated or complicated claims, including, but not limited to cases involving severe damage, sensitive issue, etc.
2. Assist Manager or AVP in training and developing technical staff, scheduling and presenting seminars on important claims technical issues.
3. Analyze and resolve coverage problems and issues. Recommend changes in policy language if/when necessary.
4. Initially establish and maintain proper loss reserves and negotiate loss settlements.
5. Conduct in-house investigation, by recording statements, ordering police reports, securing medical reports, reviewing repair estimates, etc. Attend necessary meetings or appearances on assigned claims as directed or approved by Manager.
6. Maintain control of outside vendors/attorneys and their expenses by directing assignments and limiting their scope so as to maximize cost efficiency while minimizing delays in claim handling. Such vendors/attorney must not be used unless pre-approved by the department manager. Adhere to provisions of Litigation Management Program and cost containment principles.
7. Maintain compliance with Fair Claims Practices Act or rules and internal instructions.
8. Keep Manager, reinsurer and excess insurer informed regarding significant developments in claims. Prepare required reports and other notices in a timely manner.
9. Answer correspondence and inquiries promptly from brokers/agents, insureds, claimants, attorneys outside vendors, TMM employees, etc.
10. Be familiar with and comply with all applicable provisions of Tokio Marine's Employee Handbook.
11. Responsible for complying with proper internal controls as necessary to conduct job functions and/or carry out responsibilities and/or administrative activities at Company.
• College Degree Preferred
• 10-15 years of experience with heavy liability and litigated claims
• Knowledge of general liability, umbrella and homeowners liability policy coverage
• Knowledge of tort law, legal terms, and current Case Law.
• Thorough Knowledge of liability coverages
• Knowledge of basic reinsurance and codings related to technical matters
• Ability to negotiate settlement of claims in timely and reasonable fashion by using structured settlement when appropriate.
Tokio Marine Management is an Equal Opportunity Employer. In order to remain competitive we must attract, develop, motivate, and retain the most qualified employees regardless of age, color, race, religion, gender, disability, national or ethnic origin, family circumstances, life experiences, marital status, military status, or sexual orientation.