Claims Resolution Specialist, Cyber

Location

Schaumburg, United States

Job type

Full-Time

Work mode

Hybrid

Job level

Professional

Job ID

11022

Company

Munich Re Specialty - Global Markets

Employment type

Regular

Area of expertise

Claims & Underwriting

All locations Schaumburg, United States; Houston, United States; Long Beach, United States; Miami Gardens, United States; Miami, United States; Mt. Pleasant, United States; New York, United States;

Munich Re Specialty Global Markets North America (MRSGM N.A.) is looking for enthusiastic individuals to join us as we grow. As part of Munich Re Group, we are a unique organization providing expertise in specialty and marine lines of insurance as well as surety risks and customs bonds with in-house claims solutions.

We are seeking a full time Claims Resolution Specialist, Cyber to join the Shared Services division either to be a hybrid employee in one of our US office locations or a remote employee reporting to the SVP, Claims.

Job Profile

• Direct and monitor assignments of new loss activity, working in conjunction with our London Cyber manager / team.
• Review and approve correspondence and reports
• Review and approve reserves and settlements in excess of claims examiner's authority
• Investigate and analyze coverage under primary and excess cyber policies; make coverage determinations; draft routine and complex coverage correspondence; effectively communicate coverage positions to policyholders and other partners; manage claims involving coverage litigation, working to determine validity of moderate & complex claims; may work with outside counsel and effectuate same
• Support distribution of cyber incident response services
• Investigate, negotiate and settle complex primary and excess policy cyber, technology errors & omissions, and privacy liability claims (within individual authority).
• Make recommendations concerning reserve changes to SVP or senior management.
• Participate in review and discussion of large loss activity with interested collaborators (Underwriting, Product Line Leadership, Actuarial, Executive Management)
• Adhere to Fair Claims Practices regulations and internal Claims Quality Performance Objectives
• Prepare and distribute reports by collecting and summarizing information
• Communicate with underwriting as needed to manage claims and to alert of any significant developments
• Foster and encourage strong relationships with internal team members
• Promote and enhance strong relationships with customers and channel partners
• Participate in special projects as requested
• Participate in mediations, trials, and conferences if applicable and as required and when appropriate
• Using risk expertise and industry knowledge to develop solutions that are personalized to our clients
• Evaluates, negotiates, and authorizes settlements with all stakeholders within designated authority.
• Selects, assigns, directs, and manages vendors and key stakeholders.
• Staying ahead of changing insurance and risk market conditions, as well as evolving cyber threats that may pose new security risks.
• Participating in internal and external audits where applicable.

Job Requirements

• Minimum of 5 years of relevant claims experience, preferably in cyber or professional liability
• Excess liability (quota share, first layer and high layer) claims experience preferred
• Must hold all applicable adjuster's license, in active state
• Excellent oral and written communication skills to communicate internally and externally
• Strong organizational and time management skills
• Litigation experience if possible
• Must have the ability to draft appropriate and professional correspondence.
• Must have Intermediate / strong skills with Microsoft Office, including Word, Excel, and Power Point
• Ability to organize, multi-task and prioritize work
• Excellent customer service and interpersonal skills
• Ability to analyze data, utilize sound judgment to draw conclusions and make supported decisions
• Knowledge of various CYBER insurance coverages and forms
• Ability to deliver outstanding customer service

MRSGM N.A. is open to considering candidates in numerous locations, including Schaumburg, IL. The salary range posted below applies to the Company's Schaumburg, IL location. The base salary range anticipated for this position is $100,000 to $150,000. In addition, the Company makes available a variety of benefits to employees, including health insurance coverage, life and disability insurance, 401k match, paid holidays, sick time, and paid vacation. The salary estimate displayed represents the typical salary range for candidates hired in this position in Schaumburg, IL. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

About Us

MRSGM N.A. is the holding company for Roanoke Insurance Group (RIG) and Munich Re Specialty Group Insurance Services (SIS) located throughout 7 locations in the United States and Canada with over 250 employees.

SIS provides insurance to retail and wholesale insurance brokers in North America. Specialty lines include ocean and inland marine, cyber, tech E&O, terrorism, active assailant & political violence.

RIG operates as a specialty insurance broker focused on surety, insurance and related offerings for logistics service providers, customs brokers and companies with supply chains.

Benefits

We offer our employees a diverse work environment which champions professional development, innovation and passion; providing employees with a great benefits package. All of our benefits are effective the first day of employment including:

• Generous healthcare plans
• Voluntary dental & vision plans
• 401(k) plan
• Flexible spending plans
• Health Savings Accounts (HSA)
• Paid time off
• Paid holidays
• Tuition reimbursement
• Short/long term disability
• Paid Parental Leave
• Employee Assistance Program (EAP)
• Employee Wellbeing Program
• Community involvement
• Life insurance

At MRSGM N.A., individuality is a key driver for our success and progress. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we're committed to building an inclusive culture where everyone is welcomed and valued for their authentic selves.

We offer equal opportunity employment regardless of age, sex, race, color, creed, national origin, religion, veteran status, sexual orientation, atypical hereditary traits, marital status, disability, gender identity or expression, or any other characteristic protected by law. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Applicants requiring employer sponsorship of a visa will not be considered for this position.

California applicants, please review our CA Privacy Statement at:

Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.