Company Overview:
At Vault, we are not just insuring assets. We are reducing risks with data-driven technology to Protect What Matters Most to our customers.
Our team is driven by a shared commitment to protect customers' most prized possessions. We look at the bigger picture to provide custom solutions, exceptional service, and risk management to protect their legacy proactively.
Thinking about joining our team? We look for self-motivated and inventive individuals dedicated to providing the highest level of service to our customers and partners.
Vault is seeking an experienced and highly skilled Claims Coverage Counsel to provide legal expertise and strategic guidance in claims coverage issues. This role will involve analyzing complex claims, providing counsel on policy interpretation, and ensuring compliance with regulatory requirements. The ideal candidate will be adept at managing both pre-litigation and litigation matters, collaborating with claims adjusters, underwriters, and senior management, and providing counsel on a variety of high-value and sophisticated claims for high-net-worth clients.
Key Stakeholders:
Vault is a small, nimble, and innovative high-net-worth insurance provider where you will immediately have the chance to make a lasting impact. You will collaborate directly with leaders across the company in Sales, Product, Underwriting, Claims, Actuarial, Operations/Call Center, Technology, and Vault’s executive leadership team.
Why Choose Vault:
- 37% growth rate in staff since December 2021.
- Our Financial Strength is rated an A- by AM Best.
- Rated 4.5 stars based on our customer experience reviews
- Our leaders are respected innovators with decades of insurance expertise.
- Vault’s proprietary technology allows for enhanced capabilities, speed, and efficiency.
- Leading high-net-worth insurance provider with a foundation in customized solutions.
- Comprehensive benefits tailored to your lifestyle.
Job Responsibilities:
- Claims Coverage Analysis: Analyze and interpret insurance policies to determine Vault’s coverage obligations to its policyholders.
- Legal Advice & Guidance: Provide legal advice and counsel on a wide range of insurance coverage issues, including claims under professional liability, media liability, personal excess, group excess, and other policies. Draft internal coverage opinions providing state-specific legal advice. Draft coverage position letters.
- Litigation Support: Manage all aspects of insurance coverage litigation, including review of pleadings, dispositive motions, and discovery. Collaborate with outside counsel to develop strategies for pursuing or defending claims in litigation, including preparing case strategies, evaluating settlement options, and managing legal risks.
- Policy Interpretation: Serve as the liaison for Underwriting, Product & Claims departments to effectively communicate issues with products and developments in case law that impact policy language and interpretation.
- Claims Handling: Assist claims handlers in determining the scope of coverage and ensuring timely dispute resolution. Provide advice on proper documentation and handling coverage issues presented in claims.
- Risk Management & Compliance: Assist in identifying emerging legal issues and ensure company practices comply with state and federal regulations governing insurance law, including handling high-value claims.
- Training & Education: Educate and train claims personnel on policy coverage, legal aspects of claims, and best practices for claims handling in high-net-worth insurance contexts.
- Negotiation & Settlement: Provide counsel during settlement negotiations for complex claims and disputes, balancing client interests, company goals, and legal considerations. Negotiate and draft settlement agreements to effectively resolve coverage disputes.
- Legal Research: Stay current with insurance law developments, claims litigation trends, and industry standards to ensure that company policies and practices align with current legal and regulatory requirements.
Preferred Qualifications:
- Juris Doctor (JD) degree from an accredited law school.
- Licensed to practice law in at least one jurisdiction.
- 5+ years of experience in insurance coverage, preferably in personal liability, excess liability, and commercial liability.
- Strong knowledge of property and casualty insurance policies, including homeowners, excess, auto, commercial, and liability coverage.
- Prior experience with third-party property claims and/or liability claims.
- Experience with insurance litigation, claims handling, and negotiating settlements.
- Ability to analyze complex legal issues, interpret insurance policy language, and provide clear and effective legal advice.
- Excellent written and verbal communication skills, with the ability to interact with senior executives, clients, and outside counsel.
- Strong problem-solving and negotiation skills, with the ability to manage multiple priorities in a fast-paced environment.
- Experience working in a collaborative, team-oriented environment.
Benefits:
- Flexible Spending Account & Health Savings Account, with company contributions
- Company-paid comprehensive life & disability insurance plans
- 24/7 Telehealth doctor access, virtual wellness screenings, Employee Assistance Programs
- Company 401k retirement plan with Day 1 eligibility (5% company match, 100% immediate vesting)
- 23 PTO days accrued yearly
- 11 paid holidays