Claim Counsel, Surety

Who Are We?
Solid reputation, passionate people and endless opportunities. That’s Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers – and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.

Job Category
Claim

Compensation Overview
The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment.

As part of our comprehensive compensation and benefits program, employees may also be eligible for performance-based case incentive awards.

Salary Range: $ - $

Target Openings: 1

What Is the Opportunity?
Under moderate supervision, fulfill Bond Insurance Claims mission by providing coverage opinions, and conducting thorough investigation, analysis, evaluation and disposition of claims to achieve superior customer service and claim results at the most reasonable cost. Effectively manage all assigned Bond claims, typically of moderate severity or complexity. Interact with, collaborate with, and provide legal advice and transactional support to claim and underwriting colleagues.

What Will You Do?

CLAIM HANDLING:

Within authority limit, analyze, investigate, negotiate and resolve moderate severity Bond claims with moderate supervision by claims management

Identify all recovery opportunities and coordinate recovery efforts with the Recovery Management Unit and claims management

Prepare reports (i.e., Large Loss Memos, quarterly claim, EC, trial, class action) to management which accurately reflect loss development, potential/actual financial exposure, coverage issues, claim and recovery strategies

Within authority limit, retain, monitor, manage and approve payments to outside counsel on routine litigation matters, actively utilizing litigation management plans and budgets. Guidance is needed for non-routine litigation

Make appropriate decisions within own claim authority and make appropriate recommendations to management when necessary

Follow operational policies and procedures, including compliance, regulatory and Bond performance and customer service standards

Maintain accurate documentation/information in claim file and Bond claim management system and adhere to Claim documentation standards (i.e. coverage analysis, reserve and settlement rationale, current diary)

Solicit input and guidance from management when resolving claims which are beyond authority level. Communicate reserve adjustments to underwriting

Assist/mentor less experienced colleagues in claim resolutions

Represent Bond Claim in claim strategic initiatives (or lead team); lead Bond Claim strategic initiatives

LEGAL SUPPORT:

Conduct coverage analysis and provide coverage opinions

Answer legal questions posed by underwriters that impact underwriting decisions, combining legal research with knowledge gained based on experience handling claims

Advise underwriters regarding the legal effect of bond and policy language and the extent of coverage

Answer legal questions posed by non-lawyer claim professionals to assist them in determining the legal standards applicable to claim handling and claim decisions.

Maintain an active license and remain current with all required continuing education

BOND CLAIM SPECIFIC:

Policy interpretation/coverage analysis including drafting coverage opinions with case law included

Provide input in review/revise new product initiatives, policies and policy endorsements and provide legal opinions relative to same

TRANSACTIONAL WORK AND NEGOTIATION:

Review and draft moderate to complex coverage and reservation of rights letters and advise broker ,clients as appropriate

Reviewing and drafting releases and settlement agreements, including confidentiality and no disclosure provisions, for sufficiency, and drafting same for direct handled matters

Advise…