Job Details

Managing Director Counsel Cyber Claim Bond Si

Company name

Organization Type

In-House

Job Type

Attorney

Date Last Verified

May 17,2019

Valid Through

Aug 30,2019

Posted on

Mar 30,2019

Years of Experience

Min 10 yrs required

Location

Chicago, IL, United States

Employment Type

Full-time

Industry

Legal
Practice Area
Data Privacy >> Data Privacy
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Managing Director & Counsel, Cyber Claim
The candidate will maintain all necessary active adjusters licenses and remain current with all CE credit requirements. Directly handle a limited number of Bond and Specialty Insurance Claims, specifically those having the highest degree of complexity, sensitivity and/or financial exposure. Communicate operational policies, procedures and performance standards to staff to ensure compliance with all regulatory and Bond customer service standards. Supervise claim assignment process and proactively monitor staff caseloads to ensure optimum workflow efficiencies. Collaborate with 2nd Vice President in designing and implementing policies and procedures which will facilitate quality claim handling results within the assigned region or product line. Supervise decisions regarding claim handling issues for team of claim professionals while implementing appropriate strategies to ensure quality claims handling by direct reports within authority. Assist 2nd Vice President with Quality Assurance claims review process for assigned business unit as required. Ensure that senior management, underwriters and actuaries are apprised of high-exposure /high sensitivity losses, claim trends, legal decisions, and issues which may impact the product lines underwriting philosophy or overall industry. Review and revise, as necessary, all staff members Large Loss Memos, Quarterly Claim Reports, and other management reports to accurately reflect loss development, potential/actual financial exposure, coverage issues, claim and recovery strategies. Ensure rigorous management of ALA and ULAE by staff through active use of litigation management plans and cost effective claim resolutions (including appropriate business travel). Within designated authority, approve claim settlements, reserve changes, and expense/indemnity payment requests from direct reports and other unit claim professionals (e.g., BCMS approvals). Proactively pursue recovery opportunities through indemnitors and collateral or through identification of potential sources of recovery, to include potential responsible party, co-conspirators, beneficiaries and any third parties (Accountants and Banking Institutions, Scrap Yards, Employment Agencies, E&O, or other insurance, etc.), if applicable. Identify all recovery opportunities and coordinate recovery efforts with the Recovery Management Unit if the election is made by the claim professional not to independently pursue recovery. Consistently apply superior negotiating skills and expertise to drive terms and conditions consistent with Bond and Specialty Insurance standards and drive claim resolution strategy, including when the matter is in litigation. Keep management apprised of status of claims which are beyond authority level. Communicate large reserve adjustments, high exposure/ high sensitivity losses, claim trends, legal decisions and issues which may impact product line to both claim and underwriting. Bachelors degree required. Juris doctorate degree required. Properly licensed, registered or authorized, and in good standing, to practice law in the jurisdiction in which will be working. Should have 10+ years work experience in a legal (including in-house) or insurance environment. Should preferably have 8+ years of relevant legal or claim handling work experience. Formal management experience preferred.

Additional info

Reference Id: 19812BR

Company info

Hiring Coordinator
The Travelers Indemnity Company.
500 West
Madison , Suite 2520
Chicago, IL 60661

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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