Federated Mutual Insurance Company

Senior Recovery Specialist

Job Locations US-MN-Owatonna
Job ID 2020-2824
Category
Claims

Job Details

As a Senior Recovery Specialist, you are responsible for recovering subrogation, contribution, and indemnity claims and money owed to Federated from tortfeasors through third party liability actions. You will handle recovery for medium to large size claims in Auto, Material Damage, Property and Workers' Compensation.

 

Responsibilities include:

  • Evaluating and/or investigating subrogation, contribution, and indemnification potential and pursues recovery from other parties. Gathering appropriate information from policyholders, claimants, and outside parties to ensure proper evaluation of recovery opportunity. 
  • Negotiating directly with loss parties, balancing recovery and loss costs, to ensure a resolution of the claim.
  • Explaining recovery results and settlement decisions to the policyholder.
  • Determining third party liability and contribution/indemnity opportunity while evaluating appropriate methods of pursuit, including direct pursuit, arbitration, or use of vendors.
  • Making payments for deductible reimbursements and recovery costs within authority level.
  • Attending mediations/arbitration remotely or in person. Acting as an advisor on intercompany arbitration.
  • Providing training of claims personnel on identification and pursuit of subrogation/contribution/indemnity.
  • Providing technical guidance and coaching to Recovery Specialist and Claims Representatives and serving as a resource to others, as needed.

Minimum Requirements:

  • Valid driver's license and acceptable driving record.
  • Four-year degree in business related field or equivalent experience in property and casualty claims handling.
  • Prefer completion of AIC or AEI Claims law courses.
  • Prefer Certified Subrogation Recovery Professional (CSRP) designation.
  • Minimum of 2 years' work experience in claims handling or related experience demonstrating successful performance and strong decision making skills.
  • Prefer prior experience handling subrogation claims.
  • Strong computer knowledge.
  • Excellent Microsoft Office skills including: Word, Excel, Outlook, and PowerPoint.
  • Ability to memorize and recall information quickly.
  • Strong math skills required.
  • Thorough knowledge of subrogation principles.
  • Broad knowledge and understanding of the law and claims practices.

 

 

About Us

At Federated Insurance, we do life-changing work, focused on our clients’ success. For our employees, we provide tremendous opportunities for growth. Over 95% of them believe our company has an outstanding future. We make lives better, and we’re looking for employees who want to make a difference in others’ lives, all while enhancing their own.

 

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