Surety Claims Representative

UFG is currently hiring for a Surety Claims Representative who everyday will be responsible for claims review, analyzing contracts/bond forms, as well as, speaking with principals and claimants. If you have experience with investigation, evaluation, and resolution of contract payment bond and performance bond claims, as well as commercial surety bond claims handling this could be a great opportunity for you to work with a growing team.

Responsibilities:

• Receive and acknowledge surety commercial bond claims, contract payment bond claims, and performance bond claims.
• Receive claim notices and review correspondence. Acknowledge receipt by letter and notify bond principal.
• Review bond forms for coverage, contract specifications and requirements, penalties, and time deadlines.
• Investigate surety bond claims which may include reviewing invoices, contracts and payables and potential defenses with principal.
• Investigate and analyze performance bond claims.
• Determine obligations and independently handle claims to final resolution. Confirm coverage and discharge liability if appropriate.
• Manage assigned claims across multiple jurisdictions.
• Establish and maintain accurate loss reserves for the resolution and payment of claims within the claims system all within designated authority.
• Determine available avenues of salvage recovery, negotiate, and pursue recovery.
• Provide quality customer service to internal and external customers.
• Create and maintain accurate and complete bond claim files and diaries and ensure efficient organization of records.
• Coordinate and manage communication with internal and external stakeholders (e.g., underwriting, agents, external vendors, etc.) to ensure the highest level of customer service including preparing narrative reports.
• Ensure compliance of claims handling pursuant to all state, legal, statutory, and regulatory bodies, and within all company procedures and requirements.
• Attend mediations, arbitrations and/or settlement conferences as requested.

Qualifications

Education:

• High School Degree or equivalent.
• Bachelor’s Degree, or equivalent combination of education and experience, preferred.

Certifications/Designations:

• Insurance adjuster license for designated states required or obtained after hire.
• Certified or working towards AFSB designation.
• Employees are expected to participate in continuing education throughout their careers.

Experience:

• 3 years’ surety claims experience.

Knowledge, Skills, and Abilities:

• Requires a strong knowledge and understanding of surety bond claims practices
• A sufficient knowledge with standard bond and contract language
• Through knowledge of construction trades
• An understanding of accounting principles and financial analysis
• Strong knowledge of Miller Act and Little Miller Acts

Working Conditions:

• General office environment.
• Depending on need, travel requirements include occasional to regular visits to agents, principals and others at project sites which may result in exposure to adverse weather conditions and/or results and debris of adverse weather conditions.