Assistant Vice President, Assumed Reinsurance Claims

Location
60008, Rolling Meadows
Salary
Not Specified
Posted
Sep 16, 2022
Closes
Nov 15, 2022
Ref
699a6932-ed38-4d34-acda-ef0daa52362e#GIJ--IAT
Category
Claims, Reinsurance
Job Type
Not Specified
Career Level
Not Specified

IAT Insurance Group has an immediate opening for an Assistant Vice President, Assumed Reinsurance Claims that can be located at any of our IAT locations throughout the country.

This role provides claims service to ceding company clients through reinsurance broker intermediaries, manages reported claims, evaluates treaty-level claim loss experience, determines claim trends, communicates developments to the multi-discipline Assumed Reinsurance team, and provides claims input into the new deal and treaty renewal evaluation process. This role also conducts on-site claim audits of ceding company and/or TPA claim operations.

Responsibilities:

  • Review claims for verification of treaty loss attachment and reinsurance coverage, evaluate potential treaty exposure, establish case reserves, request additional information, and query/make claim handling recommendations as needed.

  • Review and approve XOL claim payment requests and pro rata account cash calls within the treaty-specified time requirement or follow up for information needed to evaluate within 24-hours.

  • Review pro rata accounts for monthly/quarterly experience and incurred change and request additional information as needed.
  • Monitor and evaluates treaty experience for adverse loss development and claim trends and communicates to the Assumed Reinsurance team and senior management.
  • Maintain diaries of reported claims and pro rata account queries and information requests.
  • Respond to miscellaneous client reinsurance broker intermediary and ceding company requests within 24 hours.
  • Other duties as assigned.

Qualifications:

Must Have:

  • Bachelor's degree required with at least 10 years of relevant experience, as defined below, or equivalent.

  • Equivalent is defined at 14 years of relevant experience.

  • 5 years assumed reinsurance claims experience preferred.
  • Minimum of 5 years multiline Auto, Homeowners, and General Liability insurance claims experience.
  • Litigation management experience.
  • Management experience.
  • Ability to travel extensively, occasionally on short notice.
  • 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.

Preferred to Have:

  • CPCU, and/or ARe designation preferred.

Our Culture

IAT is the largest private, family- owned property and casualty insurer in the U.S. Insurance Answers Together® is how we define IAT, in letter and in spirit. We work together to provide solutions for people and businesses. We collaborate internally and with our partners to provide the best possible insurance and surety options for our customers. It's about far more than being a workplace. We're a work family.

At IAT, our fundamental belief is to a create a culture where all employees are heard and have a sense of belonging. Inclusion and Diversity are not just initiatives, it's how we live. We're committed to driving and building an open and supportive culture. By embracing the uniqueness of our employees, investing in their development, listening to, and engaging their ideas, we are stronger as an organization.

Our employees propel IAT forward – driving innovation, stable partnerships and growth. That's why we continue to build an engaging workplace culture to attract and retain the best talent.

We offer comprehensive benefits like:

  • 26 PTO Days (Entry Level) + 12 Company Holidays = 38 Paid Days Off
  • Healthcare and Wellness Programs
  • Opportunity to earn performance-based bonuses
  • 7% 401(k) Company Match and additional Discretionary Retirement Contribution
  • College Loan Assistance Support Plan
  • Educational Assistance Program
  • Mentorship Program
  • Dress for Your Day Policy

We are proud to be an EEO/AA employer M/F/D/V. We maintain a drug-free workplace and participate in E-Verify.

Come join the IAT family!

COVID 19 Statement:

IAT actively tracks COVID vaccination rates, possible symptoms, and cases across the organization so we can make informed decisions about workplace safety. As a result, while IAT does not require employees to be vaccinated, employees are required to log their vaccination records and attest daily to being symptom free before entering IAT offices.

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