Associate Claim Counsel, Bond & Specialty Insurance

Job description

Who Are We?

Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 170 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of 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. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range

What Will You Do?

• Analyze, investigate, and resolve Bond & Specialty Claims of lower severity and complexity with close supervision, following operational policies.
• With close management supervision, retain, monitor, and manage outside counsel (and other vendors, as applicable) by actively utilizing incident response and/or litigation management plans and budgets, and negotiate settlements when appropriate to ensure effective legal and/or claim outcomes, involving litigation matters of lower severity and complexity.
• Prepare management reports on loss development, financial exposure, and resolution strategies with a high degree of guidance from management.
• Develop and coordinate recovery efforts with the Recovery Management Unit to optimize loss mitigation opportunities, as needed.
• Attend mediations, settlement conferences, trials, depositions to support claim resolution, and may attend other internal/external business meetings with supervision as needed.
• With significant supervision, provide a variety of legal and business support to underwriting colleagues which varies by business unit and may include negotiating indemnity documentation, drafting product forms and endorsements, reviewing contracts and bond forms, all involving matters of lower complexity, and supporting marketing and/or risk management efforts through broker visits and seminars.
• Ensure stakeholders/customers feel ‘secure, respected, and cared for’ throughout the duration of the claims process.
• Ensure compliance with BSI Claims processes, procedures, and best practices.
• Maintain thorough documentation of claim activities, decisions, and communications, adhering to record-keeping standards and confidentiality protocols.
• To perform the essential functions of this job, acquisition and maintenance of Insurance Adjuster License(s) is required to comply with state and Travelers’ requirements. Generally, license(s) must be obtained within three months of starting the job and must obtain ongoing continuing education credits as mandated. Additionally, the maintenance of an active legal license in the state of your principal office location and remaining current with all Continuing Legal Education (CLE) is required to perform this role.
• Management Liability
• Prepare timely and thorough coverage evaluations and correspondence to Insureds.
• Maintain and note claim files pursuant to company best practices.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• One to five years of relevant legal or claim handling work experience.
• 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 limit.
• Solid verbal and written communication skills with the ability to clearly articulate coverage determinations.
• Solid time management skills with the ability to manage multiple priorities with an attention to detail, data and analytics.
• Ability to build and maintain effective and collaborative relationships with colleagues, customers, and business partners.

What is a Must Have?

• Bachelor’s Degree.
• Juris Doctor Degree.
• Properly licensed, registered or authorized, and in good standing, to practice law in the jurisdiction in which you will be working.
• Valid driver’s license or access to alternative means of transportation to travel to mediations, conferences, field offices, trials, and/or depositions.