Job Title:
Surety Claim Counsel, Bond & SI
Job Responsibilities:
The Surety Claim Counsel in the Bond & Specialty Insurance (BSI) department is responsible for managing and resolving claims related to management and professional liability, cyber, crime insurance, and surety bonds. The role involves:
- Analyzing, investigating, and resolving BSI claims with varying levels of severity under moderate supervision from claims management.
- Preparing and presenting management reports that reflect loss development, financial exposure, reserve adjustments, coverage issues, and claim strategies.
- Retaining, monitoring, and managing outside counsel using litigation management plans and budgets.
- Communicating significant claim exposures to underwriting.
- Identifying recovery opportunities and coordinating efforts with the Recovery Management Unit and claim management.
- Attending mediations, settlement conferences, claim conferences, field office visits, trials, and depositions.
- Providing legal advice to underwriters on bond obligations and project contracts, and reviewing, drafting, or modifying bond forms and agreements.
- Engaging in account workout risk mitigation analysis and advising on mitigation strategies.
- Monitoring account bankruptcy proceedings, drafting proofs of claim, and advising on potential recovery.
- Negotiating the resolution of bonded obligations on defaulted contracts and terms of agreements.
- Determining bond exposure expiration and releasing collateral by reviewing bond terms, applicable law, and court dockets.
- Conducting research and drafting reference materials to inform colleagues on law impacting underwriting and claim decisions.
- Reviewing documents related to mergers, equity sales, and asset sales to determine legal status and ownership changes of indemnitors.
- Supporting underwriting marketing efforts, including broker and account visits, risk mitigation seminars, and authoring white papers and articles.
- Obtaining and maintaining required adjusters’ licenses.
- Performing additional 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 employment.
- Two years of relevant legal experience.
Ideal Candidate Qualifications:
- Five or more years of relevant legal or claim handling work experience.
- Ability to effectively work through conflict and resolve issues professionally.
- Strong decision-making and negotiation skills within designated authority limits.
- Excellent verbal and written communication skills for articulating coverage determinations.
- Strong time management skills with attention to detail, data, and analytics.
- Ability to build and maintain collaborative relationships with colleagues, customers, and business partners.
Salary Information:
The annual base salary range for this position is between $106, and $175,, determined by factors such as role complexity, location, candidate skills, education, training, credentials, and experience. Performance-based cash incentive awards are also part of the comprehensive compensation and benefits program.
Benefits Information:
- Health Insurance: Coverage for employees and eligible family members, effective from the first day of employment.
- Retirement: 401(k) contributions matched dollar-for-dollar up to 5% of eligible pay, with an annual maximum. Includes a student loan repayment program and a 100% company-funded Pension Plan.
- Paid Time Off: Minimum of 20 days annually, plus nine paid company holidays.
- Wellness Program: Includes tools, discounts, resources, and access to free professional counseling services, health coaching, and caregiving support.
- Volunteer Encouragement: Matching Gift and Volunteer Rewards program to support charitable contributions.
Employment Practices:
Company is an equal opportunity employer, recognizing the value of diverse abilities and talents. Candidates in Colorado are not required to disclose educational institution attendance or graduation dates. Company reserves the right to adjust the level of the position as needed.
For more information on benefits, visit the company's career website.
