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Insurance Attorney / Litigation Attorney in Stow, OH

The Travelers Indemnity Company. Apr 23,2016 Mar 18,2016 Location Stow OH
This job is expired...

In-House

Attorney

Litigation

Insurance Coverage

Litigation - Whistleblower - CFTC

Min 10 yrs required

Profile

Managing Director and Counsel, Management Liability First Party Claims The candidate will assume management role in Bond and Financial Products Claim (management liability - first party claim, with focus on commercial crime and financial institution bond claims) by providing leadership, expertise and technical guidance to a team of claim professionals within a designated line of business. Will ensure compliance with bond and financial products claim policies and procedures, drive claims and litigation strategies, and manage professional development of assigned staff. Provide underwriting business/marketing/legal support to assigned product line as required. Maintain all necessary active adjuster licenses and remain current with all CE credit requirements. Directly handle a limited number of bond and financial products claims, specifically those having the highest degree of complexity, sensitivity and/or financial exposure. Communicate operational policies, procedures and performance standards to staff to ensure compliance with all regulatory and Bond customer service standards. Supervise claim assignment process and monitor staff caseloads to ensure optimum workflow efficiencies. Collaborate with 2nd Vice President in designing and implementing policies and procedures which will facilitate quality claim handling results within the assigned region or product line. Supervise decisions regarding claim handling issues for team of claim professionals while implementing appropriate strategies to ensure quality claims handling by direct reports within authority. Assist 2nd Vice President with Quality Assurance claims review process for assigned business unit as required. Ensure that senior management, underwriters and actuaries are apprised of high-exposure/high sensitivity losses, claim trends, legal decisions, and issues which may impact the product line's underwriting philosophy or overall industry. Review and revise, as necessary, all staff members. Large Loss Memos, Quarterly Claim Reports, and other management reports to accurately reflect loss development, potential/actual financial exposure, coverage issues, claim and recovery strategies. Within designated authority, approve claim settlements, reserve changes, and expense/indemnity payment requests from direct reports and other unit claim professionals (e.g., BCMS approvals). Pursue recovery opportunities through indemnitors and collateral or through identification of potential sources of recovery, to include potential responsible party, co-conspirators, beneficiaries and any third parties (Accountants and Banking Institutions, Scrap Yards, Employment Agencies, E&O, or other insurance, etc.), if applicable. Identify all recovery opportunities and coordinate recovery efforts with the Recovery Management Unit if the election is made by the claim professional not to independently pursue recovery. Consistently apply superior negotiating skills and expertise to drive terms and conditions consistent with Bond and Financial Products standards and drive claim resolution strategy, including when the matter is in litigation. Keep management apprised of status of claims which are beyond authority level. Communicate large reserve adjustments, high-exposure/high sensitivity losses, claim trends, legal decisions and issues which may impact product line to both claim and underwriting management. Recognize and advise claim management of issues that could impact not only Bond and Financial Products, but also the Travelers Enterprise. Represent claim unit in Bond Claim strategic initiatives (or lead team). Maintain knowledge of coverage, law, legislative and industry-related initiatives and judicial trends. Manage tendered litigation in surety to ensure that Bond and Financial Products' financial interests are being protected by tender counsel. Review and analyze bond forms and provide legal advice and risk analysis to underwriting. Review complex transactional documents and provide legal advice and risk analysis to business partners. Review complex/significant customer contracts and advise underwriting and business partners of legal risks of contract language to underwriting. Provide legal advice on litigation strategies on all litigation. Manages complex and higher severity litigation. Provide research on legal issues for business partners and claim team. Draft, or lead teams in drafting, internal topic documents (white papers, 50 state surveys, BCCLs) at request of management. Maintain current knowledge of relevant legal issues and trends in the surety/ management liability market place through review of legal publications and industry events. Should preferably have a Law degree with 10 years of experience handling Commercial Crime and FI Bond claims. Must maintain an active license in the state of principal office location and remain current with all CLE credits.

Additional info

Job ID: 6220BR

Company info