Job Details

Cyber Claim Counsel, Bond and SI

Company name

Organization Type

In-House

Job Type

Attorney

Date Last Verified

Jan 11, 2022

Valid Through

Apr 26, 2022

Posted on

Sep 20, 2021

Years of Experience

3-5 yrs required

Location

Braintree, MA, United States

Employment Type

Full-time

Industry

Legal
Practice Area
Litigation >> Litigation - Insurance
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Cyber Claim Counsel, Bond and SI
The candidate will, under moderate supervision, fulfill Bond and Specialty Insurance (Bond) Claims mission by conducting thorough investigation, analysis, evaluation and disposition of First Party Cyber Claims to achieve superior customer service and claim results at the most reasonable cost. Within authority limit, will thoroughly analyze, investigate, negotiate and resolve moderate severity Bond First Party Cyber Claims with moderate supervision by claims management. 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 potential responsible party, co-conspirators, beneficiaries and any third parties. 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 matters. 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 principal office location and remain current with all CLE credits. Policy interpretation/coverage analysis including drafting coverage opinions with case law included. Draft or review/revise new product initiatives, policies and policy endorsements and provide legal opinions relative to same. Review and draft releases and settlement agreements, including confidentiality and no 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 reference materials to assist claim and underwriting colleagues in understanding the law that impacts the company's underwriting and claim decisions, such as 50 state surveys and white papers. Based on knowledge of evolving contract terms, trends, and conditions in the marketplace gained from claim handling and legal advice to underwriters, advise management of trends that may impact future losses; prepare and deliver presentations on the same to management and claim and underwriting staff. Author and /or edit legal treatises/articles (including seminar materials) concerning bond claims in connection with outside organizations such as the American Bar Association Tort and Insurance Practice Section. 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. Bachelor's degree and J.D. degree are required. Should be properly licensed, registered or authorized, and in good standing, to practice law in the jurisdiction of work. Should preferably have 3-5 years of Cyber related legal or claim handling work experience. Must maintain license to practice law and remain current with all CLE credits. Should maintain all necessary active adjusters licenses and remain current with all CE credit requirements. Must be able to use negotiation skills and strategies within a litigation and non-litigation context. Within designated authority limit, should be able to make decisions and negotiate terms and conditions consistent with Bond standards. Must be able to communicate legal advice to underwriters and management independently and/or with input from manager. Should be proficient in drafting transactional documents.

Additional info

Req. #: R-11369

Company info

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

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