Senior Surety Claims Specialist

This is a remote/hybrid position. Hybrid candidates are required 3 days in office at our Middleton, WI office location. #LI-Hybrid

At CapSpecialty, we are a specialty underwriting company being driven by well-informed, entrepreneurial and proactive employees. Come join our exciting company where you can really make an impact, and each individual's unique skills and talents are recognized and valued. You will find an accessible leadership team that welcomes opinions and ideas. We owe much of our success to our collaborative environment and set of three guiding principles rooted in customer-centricity, employee excellence and corporate culture.

We offer competitive compensation and benefits packages – including an innovative open vacation plan, generous paid sick and parental leave, fully vested matching 401k, company-paid group term life insurance and short- & long-term disability plans, professional and educational growth opportunities, flexible and casual work environment, and recognition for exceptional performance. Please see our full list of Total Rewards here.

CapSpecialty is seeking a Senior Claims Specialist for our Surety division who will be responsible for the overall accurate, prompt and efficient adjustment of assigned claim files of the most complex or largest exposure. Communicate with appropriate parties to expedite the timely handling, investigation, analysis, denial or settlement of contract surety and commercial surety claims. Collaborate and communicate with F&S Underwriting staff, Independent Agents and/or Brokers to consult and advise on pending and ongoing claims.

Duties/Responsibilities:

• Claims:  Investigate, evaluate, negotiate, and resolve claims as assigned, including coverage and liability determinations, use of available tools and resources, communication with various internal and external stakeholders, compliance with all legal and regulatory requirements, and management of vendors such as independent adjusters and attorneys, overall management of loss costs (loss, ALAE and ULAE) on assigned files, customer service quality, and compliance with operating guidelines and other internal procedures and processes.
• Salvage: Investigate and document all salvage opportunities by reviewing the indemnity agreements and applications. Effectively communicate with any and all indemnitors, and attempt to work out a direct payback arrangement promptly.  Confirm if any collateral is available and if a loss or expense has occurred, drawing down on any available collateral. If necessary, assign the case to an outside collection company to further pursue salvage opportunities, or utilize an outside F&S panel attorney to file an indemnity action.  If all indemnitors and principal have filed for bankruptcy protection, timely file any proof of claim with the bankruptcy court and ensure that all efforts are explored for filing UCC-1 financing statements and secured deeds of trust.
• Mentoring/Training:  Provide training (when necessary) to claim handlers with less experience, including training, familiarization with bonded obligations, underwriting procedures, company policies, and mitigating loss while discharging bonded obligations.
• Other:  Participate in special projects or initiatives, as assigned. Provide additional assistance, analysis, guidance, and direction to department staff, other departments, customers, attorneys, and others as requested or as assigned.

Supervisory Responsibilities:

None. However, this position will provide indirect supervision as needed to Surety Claims staff by providing on-the-job training and by giving directional advice if necessary.

Core Competencies:

• Expert technical knowledge of areas related to claims involving fidelity/surety bonds and legal proceedings.
• Skilled in communicating, analyzing, problem solving, and decision-making.
• Skilled in organizing, prioritizing workload, multi-tasking and negotiating claims resolution.
• Ability to use basic software programs and technical applications.

Education and Experience:

• Bachelor’s Degree, or equivalent, with 3+ years claims adjusting experience and active industry coursework preferred.
• Requires adjuster licensing and continuing education as per various states’ regulations.

Physical Demands:

• Prolonged periods of sitting at a desk and working on a computer.
• May be required to lift up to 15 lbs at times.
• Minimal travel may be required.

CapSpecialty is a leading provider of specialty insurance and bonds for small- to mid-sized businesses in the U.S., offering casualty, professional liability, surety and fidelity products in all 50 states and the District of Columbia. By working with select partners through a limited distribution model, CapSpecialty's creative, hard-working team provides personalized service and cultivates mutually successful partnerships to deliver positive results. CapSpecialty is an operating subsidiary of Berkshire Hathaway, and its carriers have an A ("Excellent") rating from A.M. Best, writing both admitted and non-admitted policies. For more information, please visit CapSpecialty.com.

Apply today!

Equal Employment Opportunity Employer

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