Sr Claim Counsel, Bond & SI

3-6 yrs required

Full-time

No

# Sr Claim Counsel, Bond & SI

## Job Overview
Travelers is looking for a Sr Claim Counsel, Bond & SI to join our team. In this role, you will be responsible for analyzing, investigating, and resolving BSI claims of varying levels of severity with limited supervision from claims management. You will also provide legal review and advice to underwriters on bond obligations and project contract documents and identify all recovery opportunities and coordinate recovery efforts.

## Responsibilities
* Follow operational policies to analyze, investigate, and resolve BSI claims of varying levels of severity with limited 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.
* Identify all recovery opportunities and coordinate recovery efforts with the Recovery Management Unit and Claim management.
* Travel to and attend mediations, settlement conferences, claim conferences, field office visits, trials and depositions.
* Provide legal review and advice to underwriters on bond obligations and project contract documents. Review, draft and/or modify bond forms, contract documents and other agreements including, indemnity, takeover, completion, subcontractor ratification, financing and collateral.
* 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. Draft and file proofs of claim and advise as to potential recovery. 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 indemnity agreements, letters of credit, set aside letters from lenders, intercreditor agreements and subordination agreements.
* Determine whether bond exposure has expired, including for the purpose of releasing collateral, by reviewing bond terms, applicable law, and court dockets (when applicable).
* Monitor marketplace conditions, 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 and negotiate 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.

## Qualifications
* 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.
* Three years of relevant legal experience.

## Salary Range
The annual base salary range for the Sr Claim Counsel, Bond & SI is $131, - $216,. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

## Benefits
Travelers offers a comprehensive benefits package to its employees. This includes:

* 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 and resources that empower you to achieve your wellness goals. In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs. Through Life Balance, you’re eligible for five free counseling sessions with a licensed therapist.
* 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.

## Employment Practices
Travelers is an equal opportunity employer. We believe that we can deliver the very best products and services when our workforce reflects the diverse customers and communities we serve. We are committed to recruiting, retaining and developing the diverse talent of all of our employees and fostering an inclusive workplace, where we celebrate differences, promote belonging, and work together to deliver extraordinary results.

If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you. Travelers reserves the right to fill this position at a level above or below the level included in this posting. To learn more about our comprehensive benefit programs please visit /.

Health Insurance, Retirement, Paid Time Off, Wellness Program, Volunteer Encouragement

Ability to make sound decisions and negotiate terms and conditions within designated authority limit, Strong verbal and written communication skills, Time management skills, Ability to build and maintain effective and collaborative relationships with colleagues, customers, and business partners

Juris Doctorate Degree, Bachelor’s Degree

Apply online

Qualification and Experience Juris Doctorate Degree, Bachelor’s Degree, Properly licensed, registered or authorized, and in good standing, to practice law in the jurisdiction in which you will be working

Legal