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Reinsurance Claims Adjuster

Reinsurance Claims Adjuster

12 Month Fixed Term Contract

Salary to £70,000 + benefits

Location : City of London 3 days & Home 2 days

Job Summary:

Responsible for the analysis, investigation, negotiation, compromise and settlement of assumed reinsurance claims within granted authority level, and also responsible for assigned claim reviews, special reports, and assisting with routine department administrative tasks as assigned. Also, when assigned, responsible for analysis, reporting and billing of claims to reinsurers of the company.

Responsibilities:

  • Analyse claim notices for proper attachment to reinsuring agreements and years of account
  • Identify and evaluate notices for potential exposure of company's financial interest
  • Prepare claim correspondence to brokers and ceding companies on questions of coverage and claim value
  • Investigate, follow-up, and otherwise monitor the development of claims
  • Establish and authorize adequate reserve amounts based on evaluation of liability, damages and other obligations set forth in the reinsuring agreements
  • Negotiate settlements and compromise payments within specified authority
  • Set-up and authorize claim payments within specified authority
  • Liaise with underwriters, legal counsel and outside vendors on coverage, liability, damages and settlement issues when assigned
  • Prepare claim and statistical reports on both ceded and assumed business
  • Prepare and present case evaluations to claims, underwriting and corporate management
  • Coordinate strategies for resolving coverage disputes
  • Assist in projects and reports as required
  • When assigned to ceded reinsurance business, create reporting and billing files for direct claims
  • Prepare and present reports and invoices to reinsurers of the company
  • Participate as requested in settlement and collection of disputed collections of ceded reinsurance balances from the company's reinsurers
  • Maintain the system for identifying, billing, and collecting outward reinsurance claims on all lines of direct business when assigned to the ceded reinsurance administration area
  • Perform in-house audits of assumed reinsurance accounts as requested
  • Create and maintain a statistical reporting system for pending ceded reinsurance claim portfolio
  • Monitor collections of ceded reinsurance balances when requested
  • Assist in the training and direction of activity of the Claims Assistant as directed by the department Assistant Vice President
  • Continue advanced professional education programs and seminars as agreed with the Assistant Vice President

Person Specification:

  • Bachelor's degree or progress towards CII qualification
  • 5-10 years of claims handling experience, preferably including the Lloyd's and UK markets
  • Reinsurance experience strongly preferred
  • Working knowledge of the Microsoft Office Suite
  • Strong business writing skills
  • The ability to work in a team environment
  • Excellent organisational skills, and the ability to work on multiple tasks concurrently

REF - 8819

MW Appointments is acting as an Employment Agency in relation to this vacancy.

Reinsurance Claims Adjuster

London, UK
Full time
General Insurance
JO0000008819_1659624463

Published on 08/03/2022

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