Assistant Vice President - Claims (1403) job in Hartford

Working under the general supervision of VP of Claims and acting within authority appropriate to this position, the AVP of Claims is expected to:
The primary responsibilities of this position are to investigate, evaluate and resolve complex medical claims. The position requires handling claims across varied medical specialties that present the greatest severity and complexity in the department.
• Identifying and analyzing coverage issues.
• Negotiates claim settlement within authority level.
• Reviews files for timely and appropriate reserves; monitors reserve adequacy throughout the life of a claim file
• Selecting defense counsel
• Litigation management including ongoing communication with defense counsel, monitoring of legal status reporting, reviewing invoices and ensuring compliance with litigation guidelines
• Attending mediations, court conferences, and trials
• Regular communication with the insured from initial contact to claim resolution
• Formulating and executing claim resolution plans
• Direct handling of settlement negotiations with plaintiff’s counsel
• Promptly paying all claim expenses and indemnity obligations and reporting claim outcomes to state and federal regulatory agencies
• Presenting claims at internal claim roundtables
• Preparing claim status reports to reinsurers
• Regularly review quarterly loss runs for increase in reserves or severity matters, alerting management for potential impact to the company’s policies.
• Engage in collaborative projects in support of other areas in the company.
The position also requires providing support to the Segment Leaders and Business Development Department. Attend marketing calls. Attend pre-bind calls and visits.
Qualified Candidates
Should possess strong knowledge of relevant legal decisions, claim trends and industry practices.
Requirements
Bachelor’s Degree from a four-year college
At least 10 or more years in handling medical professional liability complex claims
Nursing degree or JD is highly desirable
Proficiency with Excel, Word and demonstrated aptitude with Windows-based operating systems