Complex Casualty Claims Director
Fortitude Re is a liability-led reinsurer of legacy insurance portfolios complemented by sophisticated investment capabilities. the company entered into a series of L&A and P&C reinsurance transactions with AIG and received an initial capitalization of ~$3 BN. The transactions represented ~$37 BN of reserves supported by ~$40 BN of invested assets. During this time, AIG also entered into a long-term partnership with The Carlyle Group, with Carlyle acquiring 19.9 % ownership. Then in 2019, The Carlyle Group and T&D announced acquisition of majority interest in Fortitude Re from AIG. This allowed for a new long-term shareholder base for the company while maintaining a strong capital position for supporting reinsurance obligations. here for more information about Fortitude Re.
This senior level adjuster works independently to investigate and evaluate new and existing high exposure/high profile/technically complex environmental, mass tort, casualty, specialty and construction defect claims, as well as the ability to handle declaratory judgment actions.
- Demonstrate expertise with primary and excess CGL policies, as well as manuscripted pollution policies
- Interpret and apply primary and excess policy provisions, as well as manuscripted environmental specialty policy provisions according to applicate state law and effectively communicate coverage determination and defenses to our insureds, their representatives, mediators and others
- Manage and direct outside counsel per rules in all 50 states applicable to complex, multi-party litigations, including declaratory judgment actions, and be able to properly document their efforts and conclusions.
- Work independently with experts and counsel to evaluate large complex claims
- Establish reserves in a timely manner
- Prepare executive claim summaries and major loss reports,
- Negotiate contribution from other parties and carriers to assure equitable participation in defense expenses and settlement
- Develop close working relationships with dedicated account to the mutual benefit of insureds and the Company
- Post-graduate degree in law, environmental science and/or environmental consulting
- 5+ years of technical work expertise with casualty claims adjusting, environmental engineering or other relevant litigation experience
- Ability to analyze insurance policies, contract interpretation, legal procedures, legislation and court opinions and application of same to the the underlying facts of each claim
- Strong analytical and organizational skills, along with excellent communication, negotiation and investigation skills
At Fortitude Re, we believe that diversity and inclusion are critical to our future and our mission- creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
- Job Function Associate/Sr Associate
- Pay Type Salary
- Jersey City, NJ, USA