Job Title: Claim Counsel, Bond & SI
Job Responsibilities:
- Analyze, investigate, and resolve Bond & Specialty Insurance (BSI) claims of varying severity while following operational policies with moderate supervision from claims management.
- Prepare and present management reports reflecting loss development, potential/actual financial exposure, reserve adjustments, coverage issues, and claim and recovery strategies.
- Actively 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.
- 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.
- Engage in account workout risk mitigation analysis and assist in the execution of mitigation strategies.
- Monitor account bankruptcy proceedings, draft and file proofs of claim, and advise on potential recovery. Retain outside counsel to protect or enforce surety rights when appropriate.
- Negotiate resolutions of bonded obligations on defaulted contracts and terms of agreements.
- Determine bond exposure expiration, including releasing collateral 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 law impacting underwriting and claim decisions.
- Review documents related to mergers, equity sales, and asset sales to determine the legal status and ownership of indemnitors undergoing a change of control. Draft and negotiate agreements for indemnity changes.
- 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 adjuster licenses.
- Perform other duties as assigned.
Education and Experience Information:
- Bachelor’s Degree.
- Juris Doctorate Degree.
- Properly licensed, registered, or authorized, and in good standing to practice law in the jurisdiction of work.
- Two years of relevant legal experience.
- Ideal candidates have five or more years of relevant legal or claim handling work experience.
Salary Information:
- The annual base salary range is $106, – $175,. The actual salary will be determined by various factors, including the scope, complexity, and location of the role, as well as the candidate's skills, education, training, credentials, and experience.
- Employees are also eligible for performance-based cash incentive awards.
Additional Benefits:
- 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 5% of eligible pay, with an option for student loan payment contributions into the 401(k) account. Eligibility for a 100% company-funded Pension Plan.
- Paid Time Off: Minimum of 20 days annually, plus nine paid company holidays.
- Wellness Program: Access to tools, discounts, resources, and a mental health program providing free professional counseling services.
- Volunteer Encouragement: Matching Gift and Volunteer Rewards program to support charitable involvement.
Employment Practices:
- The company is an equal opportunity employer, valuing the unique abilities and talents each individual brings.
- Candidates 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.
