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 Description Summary
Under moderate supervision, fulfill Bond & Specialty 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 or Specialty claims, typically of moderate severity or complexity. Interact with, collaborate with, and provide legal advice and transactional support to claim and underwriting colleagues.
Primary Job Duties & Responsibilities
Within authority limit, analyze, investigate, negotiate and resolve moderate severity Bond or Specialty 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 & Specialty performance and customer service standards
Maintain accurate documentation/information in claim file and Bond & Specialty 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 or Specialty Claim in claim strategic initiatives (or lead team); lead Bond or Specialty Claim strategic initiatives
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 OR SPECIALTY 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 non-lawyer claim professionals on the same
Negotiate settlements/resolutions directly or via counsel using legal arguments relevant to liability, damages, and coverage
Bachelors degree required
Juris Doctorate in provinces outside of Quebec; Bachelor of Civil Law in Quebec
Duly qualified practitioner of law in the province in which you will be working
Minimum of 3 years work experience as a lawyer (including in-house) or claims handling required
Education, Work Experience, & Knowledge
Prior work experience in Bond or Specialty insurance industry preferred
4 or more years of work experience as a lawyer (including in-house) or claims handling preferred
Job Specific Technical Skills & Competencies
Able to use negotiation skills and strategies within a litigation and non-litigation context
Able to communicate effectively through writing and in face to face presentations
Able to communicate legal advice to underwriters and management independently and/or with input from manager
Proficient in drafting transactional documents
Can effectively work through conflict and resolve issues with a professional demeanor
Environmental / Work Schedules / Other
Travel Requirements: Travel Occasionally
Equal Employment Opportunity Statement
Travelers is an equal opportunity employer. We are committed to providing accommodation to persons with disabilities. If you require accommodation during the recruitment or interview process we will work with you to accommodate your needs.
If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.
Careers at Travelers
When you work at Travelers, life’s most important moments become your life’s work. That means helping families feel secure, businesses to prosper, knowing that you’ve made a difference, and feeling like you belong to something bigger. It also means being part of a team comprised of 30,000 + talented and passionate people that are evolving to meet changing needs – from customer service to data science and beyond. If that’s more than you imagined in an insurance career, it’s time to join us at Travelers.