Senior Claims Counsel, CML

Are you looking for your next opportunity?

Sompo has a unique opportunity for a Senior Claims Counsel, CML in our Insurance Claims team.

This role will manage claims arising from or involving policies issued from Sompo’s US Commercial Management Liability (“CML”) and Financial Institutions (“FI”) teams.  This position handles US CML and FI (D&O) high exposure claims and provides legal review and policy drafting support to Underwriting. The successful candidate will be able to provide insight and analysis on complex high profile/high exposure US CML and FI claims.

Location: This position will be based out of our New York, NY; Garden City, NY; Purchase, NY; Morristown, NJoffice. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.

Our business, your impact, our opportunity:

What you’ll be doing:

• Handle US CML and FI claims and related systems and processes
• Evaluate exposures and make substantive claim decisions for US CML and FI claims and as needed on other lines of business
• Proven ability to provide coverage, liability, and damages analysis for complex D&O claims, including public and private D&O, Fiduciary Liability, and Fidelity
• Ability to proactively identify trends and exposures that may affect the CML and FI portfolios
• Support underwriting with legal review and policy drafting
• Ensure timely and accurate reporting of exposure to underwriting and management.
• Ensure appropriate narrative and arithmetic reports are timely prepared and disseminated
• As part of the Global Claims Team you will be expected to contribute to the success of the team by working closely with your colleagues worldwide on various projects as directed by the management and other members of Executive Team. This may include attending various industry conferences, possibly as a speaker/presenter, publishing on current claim trends and issues and assisting other offices on complex claims.
• You will be asked to communicate with and support underwriting and other functional groups within the organization
• Other duties as required by management
• Some travel as required

What you’ll bring:

• Law degree required
• Minimum of 3-7 years’ experience required in D&O claims handling or related litigation with a career history of increasing responsibility
• Preference will be given if experience was at both a law firm and with an insurance carrier
• Strong preference for candidate who has pursued or is in the process of pursuing an insurance related designation e.g. RPLU or CPCU
• Direct handling of complex high profile/high exposure D&O and related claims with an emphasis on evaluating, handling, negotiating and settling complex matters with exposures in excess of $10M
• Meaningful legal review experience and policy drafting experience
• Demonstrated ability to establish close working relationship with other departments including underwriting & actuarial
• Strong negotiating, analytical, written and organizational skills with relevant mediation experience
• Excellent marketing and communication skills
• Strong computer skills (MS Word, Excel, Outlook and various in-house claims systems –Guidewire, Genius, ImageRight is a plus)

Salary Range: $110,000 – $185,000 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.

At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.

Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.

We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:

• Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution
• Pharmacy benefits with mail order options
• Dental benefits including orthodontia benefits for adults and children
• Vision benefits
• Health Care & Dependent Care Flexible Spending Accounts
• Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children
• Company-paid Disability benefits with very competitive salary continuation payments
• 401(k) Retirement Savings Plan with competitive employer contributions
• Competitive paid-time-off programs, including company-paid holidays
• Competitive Parental Leave Benefits & Adoption Assistance program
• Employee Assistance Program
• Tax-Free Commuter Benefit
• Tuition Reimbursement & Professional Qualification benefits

In today’s world, what do we stand for?

Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo.

Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone’s unique contributions – we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.