Job Details

Claim Counsel, Bond and Specialty Insurance

Company name

Organization Type

In-House

Job Type

Attorney

Years of Experience

3-5 yrs required

Location

Richardson, TX

Date Last Verified

Sep 13,2017

Posted on

Sep 12,2017
Practice Area
Insurance Coverage >> Insurance Coverage
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Claim Counsel, Bond and Specialty Insurance The candidate will maintain all necessary active adjusters licenses and remain current with all CE credit requirements. Within authority limit, will thoroughly analyze, investigate, negotiate and resolve moderate severity Bond claims with moderate supervision by claims management. Make appropriate decisions within own claim authority and make appropriate recommendations to management when necessary. Comply with all policies and procedures, including compliance, regulatory and Bond performance and customer service standards. Be accountable for accurate documentation/information in claim file and Bond Claim Management System (BCMS) and adhere to Claim documentation standards (i.e. coverage analysis, reserve and settlement rationale, current diary). 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. Proactively optimize pre-loss recovery opportunities through indemnitors and collateral. Identify all recovery opportunities and coordinate recovery efforts with the Recovery Management Unit and claims management. 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. Within authority limit, make quick, sound decisions and negotiate terms and conditions consistent with Bond standards. 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. Recognize issues with broader implications to Bond and Firm’s. Represent Surety or Management Liability Claim in claim strategic initiatives (or lead team); lead Surety or Management Liability Claim strategic initiatives. Maintain knowledge of coverage, legislative and industry-related initiatives and judicial trends. Share newsletters, webinar information, case analyses, results of counsels legal research and/or litigation strategies with underwriting, Claim and Claim management. Maintain an active license in the state of your principal office location and remain current with all CLE credits. Provide legal support to business partners. Review transactional documents to provide legal advice and risk analysis to business partners on impact to indemnity and security packages. Review customer contracts to provide input on legal advice and risk analysis of contract language. Participate in drafting internal topic documents (e.g., white papers, 50 state surveys). Review and analyze Bond forms to provide input on legal advice and risk analysis to underwriting. Provide legal advice on litigation strategies. Research legal issues for business partners and claim team. Participate in drafting indemnity agreements and riders (Surety Claim). Maintain current knowledge of relevant legal issues and trends in the surety market place through review of legal publications. Within authority limit, thoroughly analyze, investigate, negotiate and resolve moderate severity Management Liability First-Party claims with moderate supervision by claims management. Make appropriate decisions within own claim authority and make appropriate recommendations to management when necessary. Comply with all policies and procedures, including compliance, regulatory and Bond performance and customer service standards. Be accountable for accurate documentation/information in claim file and Bond Claim Management System (BCMS) and adhere to Claim documentation standards (i.e. coverage analysis, reserve and settlement rationale, current diary). 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. Proactively optimize pre-loss recovery opportunities through identification of potential sources of recovery, to include potential responsible party, co-conspirators, beneficiaries and any third parties. Identify all recovery opportunities and coordinate recovery efforts with the Recovery Management Unit and claims management. 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. Within authority limit, make quick, sound decisions and negotiate terms and conditions consistent with Bond standards. 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. Maintain knowledge of coverage, legislative and industry-related initiatives and judicial trends. Recognize issues with broader implications to Bond and Firm’s. Represent Management Liability Claim in claim strategic initiatives. Share newsletters, webinar information, case analyses, results of counsel’s legal research and/or litigation strategies with underwriting, Claim and Claim management. Maintain an active license in the state of your principal office location and remain current with all CLE credits. Provide legal support to business partners, including review transactional documents to provide legal advice and risk analysis to business partners., review customer contracts to provide input on legal advice and risk analysis of contract language, and participate in drafting internal topic documents (e.g., white papers, 50 state surveys). Review and analyze Bond forms to provide input on legal advice and risk analysis to underwriting. Provide legal advice on litigation strategies to claim team members. Revise pleadings, motions, briefs, legal documents, correspondence and memoranda to identify and protect the legal interests of Firm. Research legal issues for business partners and claim team. Maintain current knowledge of relevant legal issues and trends in the management liability market place through review of legal publications.

Qualification and Experience

The candidate should have Bachelors degree. Juris doctorate degree required. Licensed to practice law in the state in which will be working. Law Degree preferred. Must have 3-5 years of claim handling experience. Exposure to commercial crime, FI Bond, and cyber issues is required.

Additional info

Job ID: 12113BR

Company info

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