Sr. Claims Specialist, Professional Liability (Cyber)

$110,000 - $120,000/Yr

Sedgwick - Boston, MA

Full-time - Mid Level

Boston, MA

10,001+ employees

Insurance Carriers and Related Activities

About the position

The Sr. Claims Specialist for Professional Liability (Cyber) at Sedgwick is responsible for analyzing and managing complex cyber and professional liability claims. This role involves providing high levels of customer service while ensuring compliance with company standards and client requirements. The specialist will handle a diverse portfolio of claims, conduct thorough investigations, and maintain accurate documentation, all while striving to reduce total claim costs and enhance client relations.

Responsibilities

• Handle a diverse portfolio of cyber claims, including various Professional Liability claims for various insurance company clients.
• Conduct comprehensive investigations into incidents, including data breaches, ransomware attacks, and business interruption claims.
• Analyze policy wordings and determine coverage applicability for each claim.
• Draft coverage letters and maintain accurate claim files and documentation in compliance with client-specific guidelines and regulatory requirements.
• Identify and investigate for possible fraud, subrogation, contribution, recovery, and case management opportunities to reduce total claim cost.
• Serve as the primary point of contact for assigned insurance company clients and provide regular updates and reports on claim status.
• Recommend settlement strategies and bring structured settlement proposals as necessary to maximize settlement.
• Represent the company in depositions, mediations, and trial monitoring as needed.
• Coordinate with and oversee external vendors, including forensic experts and legal counsel.
• Manage vendor expenses and ensure adherence to client-specific billing guidelines.
• Evaluate vendor performance and make recommendations for the vendor panel.
• Stay current with evolving cyber threats, industry trends, and best practices in cybersecurity.
• Provide technical guidance to less experienced team members on complex cyber claims.
• Prepare detailed claim reports and analyses for insurance companies.
• Calculate and assign timely and appropriate reserves to claims; monitor reserve adequacy throughout claim life.

Requirements

• Bachelor's degree from an accredited college or university required; JD preferred.
• At least five (5) years of claims management experience, with at least two (2) years of cyber claims management experience, or equivalent combination of education and experience required.
• In-depth knowledge of appropriate Cyber and other Professional Liability lines, including E&O, D&O, EPL, etc.
• Excellent oral and written communication skills, including presentation skills.
• PC literate, including Microsoft Office products.
• Strong analytical and interpretive skills.
• Strong organizational skills and excellent negotiation skills.
• Good interpersonal skills and ability to work in a team environment.

Nice-to-haves

• Professional certification as applicable to line of business preferred.
• Adjuster Licenses as required.

Benefits

• Medical insurance
• Dental insurance
• Vision insurance
• 401k and matching
• Paid Time Off (PTO)
• Disability insurance
• Life insurance
• Employee assistance programs
• Flexible spending or health savings account
• Other additional voluntary benefits