Sr Claim Counsel, Bond & SI

6-6 yrs required

Full-time

No

# Sr Claim Counsel, Bond & SI

## Job Overview

Travelers is looking for a Sr Claim Counsel to join the Bond & Specialty Insurance (BSI) team. The role includes conducting thorough investigation, analysis, evaluation, and disposition of claims and claim litigation to achieve superior customer service and to optimize claim results. The successful candidate will also provide legal advice to our underwriting colleagues and non-attorney claim colleagues, and participate in BSI claim strategic initiatives.

## Job Category

Claim, Legal

## Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

## Salary Range

$131, - $216,

## Target Openings

1

## 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.
* .
* Properly licensed, registered or authorized, and in good standing, to practice law in the jurisdiction in which you will be working.
* Six or more years of relevant legal or claim handling work experience.
* Three years of relevant legal experience.
* Demonstrated ability to effectively work through conflict and resolve issues with a professional demeanor.
* Ability to make sound decisions and negotiate terms and conditions within designated authority limit.
* Strong verbal and written communication skills with the ability to clearly articulate coverage determinations.
* Time management skills with the ability to manage multiple priorities with an attention to detail, data and analytics.
* Ability to build and maintain effective and collaborative relationships with colleagues, customers, and business partners.

## Locations

This position is available in the following locations:

* CT - Hartford
* MA - Braintree
* MN - St. Paul
* OH - Independence
* NJ - Edison
* IL - Naperville

## Benefits

Travelers offers a comprehensive benefits package including:

* 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

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

Analyzing, Investigating, Resolving, Preparing Reports, Communicating, Identifying Recovery Opportunities, Traveling, Providing Legal Review and Advice, Risk Mitigation Analysis, Negotiating, Monitoring, Obtaining and Maintaining Required Adjusters' Licenses

Bachelor's Degree, Juris Doctorate Degree

Apply online at /

Qualification and Experience Juris Doctorate Degree

Legal