Sr Associate, Complex Casualty Claims Director
Fortitude Re is a liability-led reinsurer of legacy insurance portfolios complemented by sophisticated investment capabilities. In 2016, AIG created a “Legacy” portfolio as a separate non-core segment representing insurance reserves associated with discontinued lines of commercial Property & Casualty and Life & Annuity insurance businesses. The following year, AIG formed a Bermuda-domiciled composite reinsurer, now Fortitude Re, to house the Legacy portfolio in a separate, distinct, well-capitalized balance sheet with a dedicated management team. In 2018, 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. Click here for more information about Fortitude Re.
This experienced adjuster works independently to investigate and evaluate new and existing high exposure/high profile/technically complex casualty (environmental, mass tort, pollution, product liability, healthcare malpractice, construction defect, and public entity) claims. This adjuster may also 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 can 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 stakeholders to the mutual benefit of insureds and the Company
- Independently and proactively manage large claims diary with awareness of litigation deadlines as well as internal reporting requirements
- 5+ years of technical work expertise with casualty claims adjusting or other relevant litigation experience
- Ability to analyze insurance policies, contract interpretation, legal procedures, legislation and court opinions and application of same to the underlying facts of each claim
- Experience handling coverage litigation
- JD Preferred
- Holds casualty insurance adjuster licenses
- 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 Sr Associate
- Pay Type Salary
- Jersey City, NJ, USA