Manage individual First Party Commercial Property/inland marine Losses under standard, manuscript and inland marine policy forms. Responsibilities include policy coverage verification, claim investigation, evaluation, reserving and settlement within a set level of authority. The Commercial Property Adjuster regularly interacts with Insureds, Agents, Underwriting and Actuarial. The Commercial Property Adjuster serves as a coverage resource internally and externally.
- Confirm and verify insured policy and coverage information.
- Contact insured within 24 hours as outlined in the Claims Procedures.
- Obtain all relevant and material facts of loss to determine policy application. Prepare coverage denials and/or reservations of rights letters.
- Conduct prompt in-house investigations utilizing telephone and correspondence to obtain appropriate loss documentation.
- Utilize and manage Independent Adjusters to investigate and evaluate the scope of loss as needed.
- Assign and manage Forensic Accountants to assist in analysis of Business Income losses.
- Establish and maintain proper loss reserves. Negotiate loss settlements.
- Identify and determine subrogation and salvage potential of losses.
- Maintain compliance with Fair Claim Practices Act, State specific insurance regulations and internal claims procedures as outlined in the Consolidated Claims Procedures.
- Promptly respond to correspondence and inquiries from insureds, brokers, MGA’s employees, attorneys and vendors according to Customer Service Standards.
- Prepare written reports for Customer Claim Reviews and Large Loss Reports as needed.
- Responsible for complying with proper internal controls as necessary to conduct job functions and/or carry out responsibilities and/or administrative activities in the company.
- Travel up to 20%
The Program Actuary provides pricing and reserving support for Berkley Program Specialist’s diverse book of programs. This includes program pricing reviews, rate monitoring, in depth business reviews and rate filings. This position will also be involved with the vetting of new business opportunities. The Program Actuary position works closely with the Underwriting, Claims, Finance and IT departments to help set the strategy for each program with an eye towards optimal growth and profitability.
- Profitability reviews of each program. Includes full financial view of losses, expenses and ROE.
- Strategic partnership with Underwriting, Claims, Finance and IT departments for the programs
- Monthly monitoring of rate change and claim statistics
- Program rate filings (where necessary)
- Pricing analyses & due diligence for new business opportunities
- Quarterly reserving support