Insurance Defense - General Attorney in Edison, NJ

In-House

Edison, NJ

Insurance Defense - General Attorney in Edison, NJ

Attorney

5-5 yrs required

No

Job Title: Surety Claim Counsel, Bond & SI

Job Responsibilities:
- Analyze, investigate, and resolve Bond & Specialty Insurance (BSI) claims with varying levels of severity, following operational policies and under moderate supervision from claims management.
- Prepare and present management reports that accurately reflect loss development, financial exposure, reserve adjustments, coverage issues, and claim and recovery strategies.
- Actively manage outside counsel by utilizing litigation management plans and budgets.
- Communicate with underwriting on significant claim exposures.
- Develop the ability to identify all recovery opportunities and coordinate efforts with the Recovery Management Unit and Claim management.
- Travel to and 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 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 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 as necessary to protect or enforce surety rights.
- Negotiate 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 legal status and ownership of indemnitors undergoing a change of control. Draft and negotiate 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:
- Bachelor’s Degree is required.
- Juris Doctorate Degree is required.
- Must be 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 ideal.
- Demonstrated ability to effectively work through conflict and resolve issues with a professional demeanor is preferred.
- Ability to make sound decisions and negotiate terms and conditions within designated authority limit is preferred.
- Strong verbal and written communication skills with the ability to articulate coverage determinations clearly are preferred.
- Time management skills with the ability to manage multiple priorities with attention to detail, data, and analytics are preferred.
- Ability to build and maintain effective and collaborative relationships with colleagues, customers, and business partners is preferred.

Salary Information:
The annual base salary range for this position is $106, to $175,. The actual salary will be determined by factors such as the scope, complexity, and location of the role; the candidate’s skills, education, training, credentials, and experience; and other conditions of employment. Employees are also eligible for performance-based cash incentive awards.

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 additional contributions for those with student loan debt. A Pension Plan fully funded by the company is also available.
- Paid Time Off: Minimum of 20 days annually, plus nine paid company holidays.
- Wellness Program: Access to tools, discounts, and resources for wellness goals and caregiving needs, including mental health support with free professional counseling services.
- Volunteer Encouragement: Matching Gift and Volunteer Rewards program to support charitable giving and community involvement.

Employment Practices:
The company is an equal opportunity employer, valuing the unique abilities and talents of each individual and benefiting from their differences. In accordance with local law, 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.