Insurance Defense - General Attorney in Downers Grove, IL

In-House

Downers Grove, IL

Insurance Defense - General Attorney in Downers Grove, IL

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 severity following operational policies with moderate supervision from claims management.
- Prepare and present reports for management reflecting loss development, financial exposure, reserve adjustments, coverage issues, and claim and recovery strategies.
- Retain, monitor, and manage outside counsel using litigation management plans and budgets.
- Communicate with underwriting on significant claim exposures.
- Identify recovery opportunities and coordinate efforts with the Recovery Management Unit and Claim management.
- Travel to 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.
- Engage in account workout risk mitigation analysis, advise on strategies, and assist in execution.
- Monitor account bankruptcy proceedings, document post-bankruptcy indemnity, draft and file proofs of claim, and advise on potential recovery. Retain outside counsel where necessary.
- Negotiate resolution of bonded obligations on defaulted contracts and terms of agreements including indemnity agreements, letters of credit, and intercreditor agreements.
- Determine bond exposure expiration for the purpose of releasing collateral by reviewing bond terms, applicable law, and court dockets.
- Monitor marketplace conditions, conduct research, and draft reference materials to inform colleagues on law impacting underwriting and claim decisions.
- Review documents related to mergers, equity sales, and asset sales to determine legal status and ownership of indemnitors. Draft and negotiate agreements to document indemnity changes.
- Support underwriting marketing efforts through 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:
- Bachelor’s Degree required.
- Juris Doctorate Degree required.
- Properly licensed, registered, or authorized, and in good standing, to practice law in the jurisdiction of employment.
- Two years of relevant legal experience required.
- Five or more years of relevant legal or claim handling work experience preferred.

Salary Information:
- The annual base salary range is $106, – $175,.
- The actual salary will be determined by factors such as scope, complexity, location, skills, education, training, credentials, and experience.

Additional Information:
- Health Insurance: Coverage for employees and 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, with additional Pension Plan benefits.
- Paid Time Off: Minimum of 20 days annually, plus nine paid company holidays.
- Wellness Program: Includes tools, discounts, resources, and mental health support services.
- Volunteer Encouragement: Matching Gift and Volunteer Rewards program.

Employment Practices:
- Equal opportunity employer valuing unique abilities and talents of individuals.
- Candidates in Colorado are not required to disclose educational institution attendance or graduation dates.
- Travelers reserves the right to fill the position at a level above or below the posting level.