Senior Claims Specialist – Legacy Reinsurance & Casualty

Senior Claims Specialist – Legacy Reinsurance & Casualty
Ready to apply your claims expertise to a specialized legacy recovery initiative in the insurance sector? This opportunity places you at the centre of complex historical claim reviews, coverage analysis, and reinsurance recovery activities.
Working within the Reinsurance Claims team, you will examine long-standing P&C and casualty claims, determine potential recovery opportunities, and collaborate with Claims, Legal, Finance, Accounting, Actuarial, Underwriting, brokers, reinsurers, and other stakeholders to move complex files toward resolution.
What is in it for you:

• Salaried rate: $75 per hour.

• Incorporated Business Rate: $ per hour.

• 6-month contract with the possibility of extension, depending on project progress and business needs.

• Daytime schedule, hours per week.

• Regular business hours, generally between 8:00 and 5:00

• Hybrid work arrangement requiring approximately 50% on-site presence.

• Tuesdays are mandatory in-office days, with flexibility regarding the additional on-site days.

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Location:

Markham, Ontario.

• Opportunity to contribute to a specialized, high-impact legacy claims recovery initiative.

• Collaborative environment involving Reinsurance, Claims, Legal, Finance, Accounting, Actuarial, and Underwriting teams.
Responsibilities:
• Conduct detailed reviews of legacy ceded claims portfolios to identify potential reinsurance recovery opportunities.

• Examine complex historical claim files, some of which may date back several decades, to understand prior decisions, outstanding issues, and appropriate next steps.

• Analyze claim documentation, policy and coverage information, reinsurance contracts, treaty and facultative arrangements, bordereaux, financial records, legal documentation, and historical correspondence.

• Determine coverage applicability, recovery eligibility, and the appropriate recovery strategy for legacy claims.

• Validate reinsurance recoverables and quantify potential recovery amounts in accordance with applicable contract terms, accounting requirements, and internal policies.

• Review P&C and casualty claims involving complex coverage, litigation, regulatory, allocation, settlement, or documentation issues.

• Prepare and present reinsurance claims to reinsurers, brokers, and other counterparties, ensuring submissions are complete, accurate, and appropriately supported.

• Manage the collection and resolution of outstanding legacy recoveries by proactively following up with reinsurers, brokers, claims handlers, legal representatives, and internal stakeholders.

• Investigate and help resolve disputes involving coverage interpretation, claim allocation, recovery calculations, documentation, and settlement amounts.

• Work closely with the underlying P&C Claims team and Legal team to understand claim history, coverage considerations, legal proceedings, and unresolved issues.

• Maintain accurate records of claim submissions, recoveries, correspondence, decisions, and recovery status within applicable systems and tracking tools.

• Review and reconcile aged balances, outstanding recoverables, and doubtful accounts in collaboration with Finance and Accounting.

• Analyze claim and recovery trends within the legacy portfolio and provide clear status updates, findings, and recommendations to management.

• Collaborate with Claims, Finance, Accounting, Actuarial, Underwriting, Legal, brokers, reinsurers, and other counterparties to obtain missing information and facilitate recovery outcomes.

• Escalate significant collection concerns, unresolved disputes, coverage issues, or financially impaired counterparties to management.

• Support audits, internal control reviews, and data requests by maintaining complete documentation and…