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Claim Counsel, Professional Liability Claims The candidate will manage Professional Liability claims of varying severity in the areas of Accountants’ Professional Liability and Real Estate Professional Liability. Accountants' Professional claims include liability arising from tax preparation, audits, bookkeeping and payroll services, and other accounting practice areas. Real Estate Professional claims include claims against real estate agents and brokers, and property managers. Manage and directly handle a variety of Accountants and Real Estate Professional Liability claims, reporting to the Managing Director for the team. Coordinate and collaborate on risk management services (presentations and written content) provided by the claim team in support of the Accountants and Real Estate Professional Liability business units. This position will involve occasional travel for mediations/settlement conferences, account meetings, and risk management presentations. Maintain all necessary active adjusters licenses and remain current with all CE credit requirements. Within authority limit, 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 Travelers. 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. RESPONSIBILITIES LEGAL SUPPORT Maintain an active license in the state of 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. Assures compliance with litigation management and budgeting plans, including fee audit. Develops claim strategies and implements within limits of authority. Ability to use Bond technology tools proficiently. Sets clear direction by defining goals and priorities. Takes ownership and responsibility for decisions and outcomes. Shares success with the team. Professional image. Exhibits character through words and deeds, encourage honesty throughout the organization. Is viewed as capable, effective, and able to enlist others.
Qualification and Experience
A Bachelors degree; Juris doctorate degree required. Must be licensed to practice law in the state in which will be working. Should have Bachelor’s degree and law degree from accredited school, and bar admission in state of residency. Preferred candidate will have 3 years managing third-party Professional Liability claims in an insurance environment and relevant prior private practice experience as an attorney. In addition, prior relevant experience in Accounting or Real Estate professional lines is a plus, as well as a degree or experience as an Accountant. Prior claims made coverage experience preferred. Strong verbal and written communication skills are required along with the ability to multi-task competing priorities. Should have strong communication (written and verbal), influencing, negotiating, listening and interpersonal skills to effectively develop productive internal and external relationships. Should have developing ability to build strong teams of internal and external resources that are technically competent and characterized by a high level of coordination and trust to resolve claim matters. Balances individual needs with Business Unit goals and fosters cooperation throughout the team. Must have knowledge of moderately complex claims (e.g. non-routine, multi-party litigation).
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