Senior Claims Specialist - Surety

About the Position

Senior Claims Specialist - Surety

Location: Princeton, United States

Job type: Full-Time

Work mode: Hybrid

Job level: Professional

Job ID: 14561

Company: Munich Re Specialty - North America

Employment type: Regular

---

Responsibilities

• Thorough investigation and assessment of claims against surety bonds for coverage, damages, and pursuit of recoveries and subrogation/contribution opportunities.
• In-depth understanding of coverage issues, bond forms, contracts, regulatory requirements, and changing legal landscape for Performance Bonds and Payment Bonds.
• Proactive and prompt management of claims, considering all aspects with a strategic vision for optimal claim outcome.
• Continual evaluation of claim to set appropriate, timely reserves over the life of the claim to reflect changes in exposure.
• Demonstrate strong technical claims proficiency through consistent execution of best claim practices.
• Strategically coordinate and manage outside counsel and vendors to obtain optimal claim outcome.
• Present high exposure claims to Claims Leadership and Key Stakeholders.
• Collaborate with internal and external business partners for client meetings, product development and improvement, and account audits.
• Innovative mindset - looks for ways to improve claim efficiencies and outcomes.

---

Requirements

• Bachelor’s degree required; JD a plus.
• 8 years+ experience in handling surety matters.
• Detail-oriented, adaptable, and strategic in decision-making.
• Understanding of technical claims proficiency and execution of best claim practices.
• Ability to work independently, multi-task, and remain self-motivated in a fast-paced environment.
• Strong organizational skills and time management of claims desk.
• Strong business acumen and ability to collaborate with other departments and vendors.
• Customer-service and relationship oriented.
• Innovative, dynamic and growth mindset.
• Good verbal and writing skills for internal and external communication, presentations and reporting.
• Good analytical thinking, advocacy and negotiation skills.
• Willingness to travel for mediations, settlement conferences, and client or account meetings. (25%)
• Maintain valid adjusters’ license(s) in states assigned or an ability to obtain same.

---

We Offer

• Competitive base salary range: $120,000 - $170,000, plus opportunity for company bonus based upon a percentage of eligible pay.
• Comprehensive benefits package including health insurance coverage, employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays, and paid time off (PTO).
• Additional insurance benefits such as prescription drug coverage, vision and dental insurance plans, basic life insurance, AD&D coverage, short and long-term disability coverage, and supplemental life and AD&D plans.
• Voluntary benefit plans including accident, critical illness, and hospital indemnity insurance.
• A robust 401k plan with up to a 5% employer match.
• Retirement savings plan that is 100% company funded.
• Paid time off that begins with 24 days each year, with more days added for milestone service anniversaries.
• Eligibility to receive a yearly bonus as a Munich Re employee.
• A variety of health and wellness programs provided at no cost.
• Paid time off for eligible family care needs.
• Tuition assistance and educational achievement bonuses.
• A corporate matching gifts program that further enhances your charitable donation.
• Paid time off to volunteer in your community.

---

About the Company

Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face. Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America.

---

Diversity, Equity and Inclusion

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.