EPL & D&O Liability Associate Claim Counsel

Travelers; Center Square (PA); On-site; USD 94,000 - 156,000; Full time

Job summary

Travelers Insurance is seeking an Associate Claim Counsel to join our Bond & Specialty Insurance team. You will manage lower severity BSI claims, supervise outside counsel under supervision, and provide legal insights to underwriters and claim colleagues to support claim outcomes.

With oversight, you will prepare management reports, negotiate settlements, and ensure compliance with BSI processes while maintaining thorough documentation and client focus throughout the claims process.

Qualifications

• Active Insurance Adjuster License required within three months of start date.
• Active legal license in the state of principal office location and ongoing CLE credits required.

Responsibilities

• Analyze, investigate, and resolve Bond & Specialty Claims of lower severity and complexity with close supervision, following operational policies.
• Retain, monitor, and manage outside counsel and vendors with oversight, and negotiate settlements when appropriate to ensure favorable outcomes.
• Prepare management reports on loss development and financial exposure with guidance from management.
• Develop and coordinate recovery efforts with the Recovery Management Unit to optimize loss mitigation.
• Attend mediations, settlement conferences, trials, depositions to support claim resolution and participate in meetings as needed.
• Provide legal and business support to underwriting colleagues, including reviewing contracts and bond forms for lower complexity matters.
• Ensure stakeholders feel secure, respected, and cared for throughout the claims process.
• Maintain thorough documentation of claim activities and communications, adhering to confidentiality and record-keeping standards.

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.

Job Category

Claim, Legal

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

$94,400.00 - $155,800.00

Target Openings

1

What Is the Opportunity?

Travelers Insurance is seeking a highly motivated and knowledgeable Associate Claim Counsel to join our Bond & Specialty Insurance team. Bond & Specialty Insurance (BSI) provides management and professional liability, cyber, crime insurance, and surety bonds to or on behalf of businesses and/or nonprofits 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. As an Associate Claim Counsel, you will effectively manage all assigned BSI claims, typically of lower severity and complexity within our organization, and with close supervision from management. You will manage outside counsel relationships, negotiate settlements, and ensure stakeholders are supported throughout the claims process. In addition to comprehensive claim and risk management, you also will provide legal advice and/or insight to our underwriting colleagues and non-attorney claim colleagues and participate in BSI claim strategic initiatives.

Responsibilities

• 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.

All Surety

• With significant oversight, provide legal review and advice to underwriters on bond obligations and project contract documents. Review, draft and/or modify bond forms and contract documents, all involving matters of lower complexity.
• Engage in account workout risk mitigation analysis, advise on mitigation strategies, and assist in execution of such strategies with assistance from management.
• With oversight from management, monitor account bankruptcy proceedings and document post-bankruptcy indemnity. Draft and file proofs of claim and advise as to potential recovery and retain outside counsel as necessary.