Senior Cyber Claims Manager

Senior Cyber Claims Manager

Tokio Marine HCC, a global power in the specialty insurance industry, is seeking a highly proficient Senior Cyber Claims Manager. This position will lead and direct a team of claims professionals handling Reinsurance and Open Market cyber, media and technology error and omissions claims and litigation.

What we offer: 

• Competitive salary and employee benefit package 

• Strong learning culture 

• Growth perspectives 

• 6% 401K match 

• 20 days of PTO and 2 Floating Days 

• Paid parental leave

• An opportunity to love what you do

About the role:

The position is responsible for ensuring the claims staff is following company procedure and that benefits are paid to those who are eligible. Analyze and review legal pleadings, documents, and applicable statutes to determine validity of liability claims. Special attention to coverage a plus.

Key Responsibilities

• Supervise and direct a team of claims professionals handling primarily Cyber, Media and Technology Errors & Omissions claims and manage team workflow

• Coach and mentor direct reports and provide training opportunities.

• Educate and train team members in the duties and responsibilities of best claims practices

• Perform quality reviews on claims in compliance with internal and external audit requirements.

• Communicate with internal and external stakeholders, including insureds, brokers/agents, and insurance carrier clients, and provide exceptional customer service.

• Conduct investigations, and evaluate liability to determine validity of complex claims. Provide oversight to direct reports with regard to formulation and issuance of coverage position letters, negotiation and resolution of claims, and decision-making within defined authority through delegation and empowerment.

• Prepare and draft complex legal correspondence to affected parties. Maintain electronic claim files. Update files as needed.

• Oversee all aspects of the litigation process for high-exposure liability claims to minimize company risk of loss.

• Negotiate claim settlements within defined authority limit.

• Recommend and present proposed claim resolution and/or settlement terms to management for claims that are in excess of the defined authority limit.

• Develop and maintain processes and procedures for the team in coordination with Claims Department Management.

• Oversee outside counsel and vendors related to claims handling responsibilities.

• Keep current on state regulations with issues, industry activities, and trends

• Attend settlement conferences, mediations and facilitation hearings on the Company’s behalf as needed.

• Provide supervision and guidance to less experienced Claims personnel including the review of settlement payments and denials but obtain appropriate authority to issue denials.

• Provide timely and accurate reporting to management and other internal clients including summaries of open/closed claims or other related bordereaux.

• Support Claims Department Management and Underwriting unit as needed.

• Obtain and maintain claims adjuster’s licenses or other professional designations as required by the Company.   

• Oversee the payment of claims on the basis of the coverage of the insurance customer, the proof of damage and an insurance appraisal.

• Ensure that all claims are valid according to the company policy and consult with legal representation when necessary.

• Review and respond to claim referrals and questions from claims staff.

• Review and respond to claim appeals and grievances.

• Perform claims reviews and makes recommendations based on policy provisions and processing guidelines.

• Prepare and present reports on claims performance, trends and operational efficiencies to senior management.

Position Knowledge, Skills, and Requirements

• 4 year Bachelor's in a related field, or the equivalent education and/or work experience

• Eight years of Relevant professional experience in insurance claims; with at least four years of experience in cyber, media and Tech e/o litigation, coverage and claims.

The Company believes in “second chance” employment.  Qualified applicants with arrest or conviction history will be considered regardless of their arrest or conviction history, consistent with local laws such as Los Angeles County Fair Chance Ordinance and the California Fa