Major Loss Adjuster, Casualty Claims at AIG

Toronto, Ontario, Canada

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Minimum 10 years handling commercial casualty claims
College/University or equivalent industry experience
Ability to make decisions and give directions to adjusters and/or counsel
Quick learner with strong communication and negotiating skills
Excellent interpersonal skills
Proficient computer skills to navigate paperless claim file system
Willingness to travel approximately 10% to attend mediations/ADR

Responsibilities

Handle various types of complex commercial casualty claims including class actions, large property damage claims, product liability recall claims and other general liability claims
Operate within all operational/Best Practices guidelines
Determine coverage in conjunction with policy wordings
Prepare disclaimer and/or reservation of rights letters and communicate to underwriters, brokers and insureds when applicable
Provide instruction to legal counsel to bring about appropriate resolution of claim
Ensure compliance by legal counsel of litigation guidelines
Participate in mediation/ADR process to bring about resolution of claim
Negotiate settlements directly where possible
Issue payments within appropriate time frame
Operate within best practices guidelines, including timely reserve review, notes, payment requests, electronic diary
Inform management of all complaints, large losses, coverage issues, etc
Draft reservation of rights and denial letters
Attend mediation/settlement conference
Instruct independent adjusters and attorneys in the negotiation and settlement of claims

Skills

Casualty Claims

Coverage Determination

Reservation of Rights

Denial Letters

Mediation

ADR

Settlement Negotiation

Litigation Management

Legal Counsel Instruction

Policy Review

Claims Settlement

AIG

Global insurance provider for individuals and businesses

About AIG

AIG provides a variety of insurance products and services aimed at individuals, families, and businesses. Their offerings include life insurance, retirement planning, and commercial insurance, which help clients manage risk and protect their assets. AIG operates by underwriting insurance policies and managing risk, while also investing the premiums collected to generate income. This company stands out from competitors by not only focusing on traditional insurance but also emphasizing cybersecurity and data protection to keep clients' information safe. AIG's goal is to help clients achieve financial security and peace of mind through comprehensive insurance solutions.

New York City, New YorkHeadquarters

1919Year Founded

IPOCompany Stage

Cybersecurity, Financial ServicesIndustries

10,001+Employees

Benefits

Health, dental, & vision coverage

Flexible Spending Accounts (FSA)

401(k)

PTO

Commuter Expense Reimbursement Account

Risks

Sale of personal travel business may reduce AIG's market presence in travel insurance.

Expansion in Atlanta could pose financial risks if expected growth does not materialize.

Deconsolidation of Corebridge Financial might lead to loss of synergies and increased costs.

Differentiation

AIG offers a wide range of insurance products globally, serving diverse client needs.

Corebridge Financial, a subsidiary, enhances AIG's offerings in retirement planning and financial futures.

AIG emphasizes cybersecurity and data protection, ensuring clients' information remains secure.

Upsides

AI adoption in underwriting and claims processing enhances efficiency and reduces costs for AIG.

InsurTech partnerships offer AIG opportunities to enhance digital capabilities and drive innovation.

Telematics and usage-based insurance allow AIG to offer personalized and flexible products.

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