Claim Counsel, Bond & SI

Travelers; Seattle (WA); Sur place; USD 118 000 - 194 000; Plein temps

Avantages offerts par ce poste

Health Insurance

401(k) matching up to 5%

Pension Plan

Paid Time Off (PTO)

Résumé du poste

Travelers is seeking a Bond & Specialty Insurance (BSI) Claim Counsel in Seattle to analyze, investigate, and resolve complex BSI claims with a focus on recovery and strategic outcomes.

You will support underwriting with legal reviews of bond obligations, draft and negotiate contract documents, and coordinate with internal teams and external counsel to optimize claim results while traveling as needed for mediations and court appearances.

Qualifications

• Bachelor’s Degree.
• Juris Doctorate Degree.
• Licensed to practice law in the applicable jurisdiction.
• Two years of relevant legal experience.

Responsabilités

• Analyze, investigate, and resolve BSI claims with moderate supervision.
• Prepare and present management reports on loss development and exposure.
• Retain, monitor, and manage outside counsel with litigation plans and budgets.
• Communicate with underwriting on significant claim exposures.
• Develop recovery opportunities and coordinate with Recovery Management and Claims management.
• Travel to mediations, settlements, conferences, and depositions.
• Provide legal review to underwriters on bond obligations and project contracts.
• Review and modify bond forms and related agreements including indemnity and collateral.
• Advise on mitigation strategies and assist execution of such strategies.
• Monitor bankruptcy proceedings and document post-bankruptcy indemnity.
• Draft and file proofs of claim and advise on potential recovery.
• Retain outside counsel when appropriate to protect bond rights.
• Negotiate resolutions of bonded obligations and related agreements.
• Determine bond exposure expiry and related collateral releases.
• Provide market-informed updates on law impacting Travelers’ underwriting and claims.
• Review M&A related documents to assess indemnitors’ ownership changes.
• Draft and negotiate indemnity changes for transactions.
• Support underwriting marketing and risk mitigation discussions (broker visits, white papers).
• Obtain and maintain adjusters’ licenses.
• Perform other duties as assigned.

Connaissances

Legal/claims experience

Conflict resolution

Decision making

Verbal and written communication

Time management

Formation

Bachelor’s Degree

Juris Doctorate

Licensed to practice law

Two years of relevant legal experience

Description du poste

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.

Job Category Claim, Legal Compensation Overview

Salary Range $117,600.00 - $194,000.00

What Is the Opportunity?

Bond & Specialty Insurance (BSI) provides management and professional liability, cyber, crime insurance, and surety bonds to or on behalf of businesses of all sizes. The BSI Claim Counsel team conducts thorough investigation, analysis, evaluation, and disposition of claims and claim litigation to achieve superior customer service and to optimize claim results. Travelers’ Construction Services Team includes legal, accounting, and engineering professionals to handle claims on construction-related and other surety bonds, mitigate exposures on construction surety accounts, and provide a wide range of business support and legal services to advance our mission to serve as trusted advisors to our underwriting partners. As a valued member of our team, in addition to claim, you also will provide legal advice to our underwriting colleagues and non-attorney claim colleagues, and participate in BSI claim strategic initiatives.

What Will You Do?

• Follow operational policies to analyze, investigate, and resolve BSI claims of varying levels of severity with moderate supervision from claims management.
• Prepare and present reports for management that accurately 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.
• Continue to develop the ability to identify all recovery opportunities and coordinate recovery 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/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 of such strategies.
• Monitor account bankruptcy proceedings and document post-bankruptcy indemnity.
• Draft and file proofs of claim and advise as to 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 (when applicable).
• Monitor marketplace conditions, conduct research, and draft reference materials to inform claim and underwriting colleagues on law impacting Travelers’ 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.

What Will Our Ideal Candidate Have?

• Five or more years of relevant legal or claim handling work experience.
• 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 limit.
• 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 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 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.

What Is in It for You?

• Health Insurance: Employees and their eligible family members – including spouses, domestic partners, and children – are eligible for coverage from the first day of employment.
• Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account.
• You are also eligible for a Pension Plan that is 100% funded by Travelers.
• Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
• Wellness Program: The Travelers wellness program is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health program provides access to free professional counseling services, health coaching and other resources to support your daily life needs.
• Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences. In accordance with local law, candidates seeking employment in Colorado are not required to disclose dates of attendance at or graduation from educational institutions. If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you. Travelers reserves the right to fill this position at a level above or below the level included in this posting. To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.

Travelers has more than 30,000 employees in the United States, Canada, the United Kingdom, and Ireland.

Open to all employees, our 10 Diversity Networks celebrate culture and communities and create spaces for all employees through powerful forums for dialogue and support.

Employees and their eligible family members – including spouses, domestic partners and children – are eligible for coverage from the first day of employment.

Travelers has been recognized by organizations such as G.I. Jobs and Military Times.

Our employees are valuable assets to their hometowns, volunteering for important causes each year.