Job Details

Claim Counsel

Company name

Organization Type

In-House

Job Type

Attorney

Date Last Verified

Aug 10,2018

Posted on

Jul 19,2018

Years of Experience

3-5 yrs required

Location

Braintree, MA
Practice Area
Insurance Defense >> Insurance Defense
Litigation >> Litigation - Insurance
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Claim Counsel The candidate will analyze, investigate, negotiate and resolve moderate severity Bond claims with moderate supervision by claims management. Will 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 (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. Identify and optimize pre-loss recovery opportunities through identification of potential sources of recovery, to include any third parties (Employment Agencies, E&O, or other insurance, etc.). 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. 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 Management Liability Claim in claim strategic initiatives (or lead team); lead Management Liability Claim strategic initiatives. 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 in the state of your principal office location and remain current with all CLE credits. Policy interpretation/coverage analysis. Draft or review/revise new product initiatives, policies and policy endorsements and provide legal opinions relative to same. Review and drafting releases and settlement agreements, including confidentiality and non disclosure provisions, for sufficiency, and drafting same for direct handled matters. Advise non-attorney claim professionals on the same. Negotiate settlements/resolutions directly or via counsel using legal arguments relevant to liability, damages, and coverage. Draft or review and revise memos and alerts assessing law, statutes and regulations. Review and revise draft motion papers, briefs, and mediation/settlement statements from counsel. Review documents for production in discovery for coverage actions. Bachelors degree is required. JD degree is required. Licensed to practice law in the state. Should have 3-5 years of general legal or claim handling work experience preferred, in one or more of the following areas: Employment Practices Liability, Directors and Officers Liability, Fiduciary Liability and Miscellaneous Professional Liability.

Additional info

Ref: 16358BR

Company info

Hiring Coordinator
The Travelers Indemnity Company.
One Tower Square
1MN
Hartford, CT 06183

Review:

"Possibly a Perfect Workplace"

Current Employee - Reviewed on December 16, 2017

Remind people that socializing is optional and keep people from stressing from it too much but also encourage those that want to join in to do so.

Pros : Not only is everyone here paid fairly but everyone just seems to get along and is fairly relaxed. It would be in character for most people to say hello outside of work and just chat.
Cons : Some people may hate the forced feeling of interacting with co-workers outside of normal work hours if they have a hard time with dealing with people.
Current or former employee? : Current Employee

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