Insurance Defense - General Attorney / Personal Injury Defense Attorney in Philadelphia, PA

In-House

Philadelphia, PA

Insurance Defense - General Attorney / Personal Injury Defense Attorney in Philadelphia, PA

Attorney

2-5 yrs required

No

Job Title: Claim Counsel, Bond & SI

Job Responsibilities:
- Follow operational policies to analyze, investigate, and resolve Bond & Specialty Insurance (BSI) claims of varying levels of severity with moderate supervision from claims management.
- Prepare and present reports for management that reflect loss development, potential/actual financial exposure, reserve adjustments, coverage issues, and claim and recovery strategies.
- Retain, monitor, and manage outside counsel actively utilizing litigation management plans and budgets.
- Communicate with underwriting on significant claim exposures.
- Develop the ability to identify all recovery opportunities and coordinate recovery 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 including indemnity, takeover, completion, subcontractor ratification, financing, and collateral.
- Engage in account workout risk mitigation analysis, advise on mitigation strategies, and assist in execution.
- Monitor account bankruptcy proceedings and document post-bankruptcy indemnity. 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, including 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 claim and underwriting colleagues on 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 and 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.
- Juris Doctorate Degree.
- Properly licensed, registered, or authorized, and in good standing, to practice law in the jurisdiction in which you will be working.
- Two years of relevant legal experience.
- 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 factors including the scope, complexity, and location of the role; the skills, education, training, credentials, and experience of the candidate; and other conditions of employment.
- Employees are also eligible for performance-based cash incentive awards.

Additional Information:
- Health Insurance: Coverage for employees and their eligible family members from the first day of employment.
- Retirement: Company matches 401(k) contributions dollar-for-dollar up to the first 5% of eligible pay, with an annual maximum. Includes a Paying it Forward Savings Program and a Pension Plan.
- 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 to support charity involvement.
- Equal Opportunity Employer: Company values diversity and is committed to creating an inclusive environment.
- Candidates in Colorado are not required to disclose dates of attendance at or graduation from educational institutions.
- The company reserves the right to fill this position at a level above or below the level included in this posting.