Insurance Defense - General Attorney in Hartford, CT

In-House

Hartford, CT

Insurance Defense - General Attorney in Hartford, CT

Attorney

5-5 yrs required

No

Job Title: Surety Claim Counsel, Bond & SI

Job Responsibilities:
- Analyze, investigate, and resolve Bond & Specialty Insurance (BSI) claims of varying levels of severity, following operational policies with moderate supervision from claims management.
- Prepare and present management reports that accurately reflect loss development, potential/actual financial exposure, reserve adjustments, coverage issues, and claim and recovery strategies.
- Retain, monitor, and manage outside counsel using litigation management plans and budgets actively.
- Communicate with underwriting on significant claim exposures and provide legal review and advice 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 executing such strategies.
- Monitor account bankruptcy proceedings, draft and file proofs of claim, and advise on 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 by reviewing bond terms, applicable law, and court dockets.
- Monitor marketplace conditions, conduct research, and draft reference materials to inform claim and underwriting colleagues on the law impacting 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, risk mitigation seminars, and authoring customer-focused white papers and articles.
- Obtain and maintain required adjusters’ licenses.
- Perform other duties as assigned.

Education and Experience Information:
- Must have a Bachelor’s Degree and a Juris Doctorate Degree.
- Properly licensed, registered, or authorized, and in good standing, to practice law in the jurisdiction in which you will be working.
- A minimum of two years of relevant legal experience is required.
- Five or more years of relevant legal or claim handling work experience is preferred.
- 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 limits.
- 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 attention to detail, data, and analytics.
- Ability to build and maintain effective and collaborative relationships with colleagues, customers, and business partners.

Salary Information:
- The annual base salary range for this position is $106, – $175,. The actual salary will be determined by several factors, including the scope, complexity, and location of the role, as well as the skills, education, training, credentials, and experience of the candidate.

Benefits Information:
- Health Insurance: Coverage for employees and their eligible family members from the first day of employment.
- Retirement: 401(k) contributions matched dollar-for-dollar up to the first 5% of eligible pay, and eligibility for a Pension Plan funded by the company.
- Paid Time Off: Minimum of 20 days annually, plus nine paid company holidays.
- Wellness Program: Tools, discounts, resources for wellness goals, and access to free professional counseling services.
- Volunteer Encouragement: Matching Gift and Volunteer Rewards program for charitable involvement.

Employment Practices:
- The company is an equal opportunity employer and values the unique abilities and talents each individual brings to the organization.
- Candidates seeking employment in Colorado are not required to disclose dates of attendance or graduation from educational institutions.
- The company reserves the right to fill the position at a level above or below the level included in this posting.