Associate Claim Counsel
Travelers is a leading property casualty insurer with a commitment to customer care and community service. The Associate Claim Counsel will be responsible for analyzing and resolving bond claims, providing legal advice to underwriting colleagues, and participating in strategic initiatives within the claims team.
Responsibilities
- Follow operational policies to analyze, investigate, and resolve performance and payment bond claims of varying levels of severity with active supervision from claims management
- Prepare and present reports for management that accurately reflect loss development, potential/actual financial exposure, reserve adjustments, coverage issues, and claim and recovery strategies
- Retain, monitor, and manage outside counsel actively utilizing litigation management plans and budgets
- Communicate with underwriting on significant claim exposures
- Travel to and attend mediations, settlement conferences, claim conferences, field office visits, trials and depositions
- Develop the ability to identify all recovery opportunities and coordinate recovery efforts with the Recovery Management Unit and Claim management
- Provide legal review and advice to underwriters on bond obligations and project contract documents
- Engage in account workout risk mitigation analysis, advise on mitigation strategies, and assist in execution of such strategies
- Monitor account bankruptcy proceedings and document post-bankruptcy indemnity. Retain outside counsel where appropriate to protect or enforce surety rights
- Negotiate the resolution of bonded obligations on defaulted contracts, and terms of agreements including takeover, completion, subcontractor ratification, financing and collateral
- Conduct research, and draft reference materials to inform claim and underwriting colleagues on law impacting Travelers’ underwriting and claim decisions
- Review documents pertaining to mergers, equity sales and asset sales to determine the legal status and ownership of indemnitors undergoing a change of control. Draft appropriate agreements to document indemnity changes related to such transactions
- Support underwriting marketing efforts, including participation in broker and account visits and risk mitigation seminars and authoring customer-focused white papers and articles
- Obtain and maintain required adjusters’ licenses
- Perform other duties as assigned
Skills
- One to five years of relevant legal or claim handling work experience
- Ability to effectively work through conflict and resolve issues with a professional demeanor
- Ability to make sound decisions and negotiate terms and conditions within designated authority limit
- Strong verbal and written communication skills with the ability to clearly articulate coverage determinations
- Time management skills with the ability to manage multiple priorities with an attention to detail, data and analytics
- Ability to build and maintain effective and collaborative relationships with colleagues, customers, and business partners
- Bachelor's Degree
- Juris Doctorate Degree
- Properly licensed, registered or authorized, and in good standing, to practice law in the jurisdiction in which you will be working
Benefits
- Health Insurance: Employees and their eligible family members – including spouses, domestic partners, and children – are eligible for coverage from the first day of employment.
- Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
- Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
- Wellness Program: The Travelers wellness program is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health program provides access to free professional counseling services, health coaching and other resources to support your daily life needs.
- Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.
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