Associate Claim Counsel, EPL & D&O Travelers New York
Associate Claim Counsel, Epl & D&o
Short Description :
Principal office location and remain current with all CLE credits Maintain license to practice law in the state of your principal office location and remain current with all CLE credits Licensed to practice law in the state in which you will be ,…
Full Description :
Solid reputation, passionate people and endless opportunities. That’s . Our superior financial strength and consistent record of strong operating returns mean security for our customers – and opportunities for our employees. You will find to be full of energy and a workplace in which you truly can make a difference.
Job Description Summary
Under close supervision, fulfill Bond & Specialty Insurance (Bond) Claims mission by conducting thorough investigation, analysis, evaluation and disposition of claims to achieve superior customer service and claim results at the most reasonable cost.
Primary Job Duties & Responsibilities
Learn Management Liability Bond business, products, policies and procedures through work experiences and structured training.
Effectively manage all assigned Bond claims, typically of low to moderate severity or complexity.
Interact with, collaborate with, and provide legal advice and transactional support to claim and underwriting colleagues.
Claim Handling Responsibilities:
Within authority limit, thoroughly analyze, investigate, negotiate and resolve low to moderate severity Bond claims with active supervision by claims management.
Make appropriate decisions within own claim authority and make appropriate recommendations on matters outside of authority to management when necessary.
Follow operational policies, procedures, workflow and performance standards to comply with all regulatory and Bond customer service standards.
Maintain accurate documentation/information in claim file and Bond Claim
Management System (BCMS).
Follow Claim documentation standards (e.g. coverage analysis, reserve and settlement rationale, current diary).
Prepare reports (e.g. Large Loss Memos, quarterly claim, EC, trial, class action) for management that accurately reflect loss development, potential/actual financial exposure, coverage issues, and claim and recovery strategies.
Identify and optimize pre-loss recovery opportunities through identification of potential sources of recovery, to include potential responsible party, co-conspirators, beneficiaries and any third parties,
Identify all recovery opportunities and coordinate recovery efforts with the Recovery Management Unit and claims management.
Within authority limit, retain, monitor, manage and approve payments to outside counsel on routine litigation matters, actively utilizing litigation management plans and budgets.
Communicate reserve adjustments to underwriting.
Represent Management Liability Claim in claim strategic initiatives (or lead team).
Lead Management Liability Claim strategic initiatives.
Legal Support Responsibilities:
Answer routine legal questions posed by underwriters that impact underwriting decisions, combining legal research with knowledge gained based on experience handling claims. Answer more complex legal questions with some guidance.
Advise underwriters regarding the legal effect of bond and policy language and the extent of coverage.
Answer routine legal questions posed by non-lawyer claim professionals to assist them in determining the legal standards applicable to claim handling and claim decisions.
Maintain an active license in the state of your principal office location and remain current with all CLE credits.
Management Liability specific:
Refine policy interpretation/coverage analysis skills including drafting coverage opinions with case law included.
Contribute to the drafting or review/revision of new product initiatives, policies and policy endorsements and provide legal opinions relative to same.
Transactional Work and Negotiation:
Review and draft routine releases and settlement agreements, including confidentiality and no disclosure provisions, for sufficiency, and drafting same for direct handled matters. Advise non-attorney claim professionals on the same.
Negotiate routine settlements/resolutions directly or via counsel using legal arguments relevant to liability, damages, and coverage.
Legal Research and Writing:
Based on basic knowledge of evolving contract terms, trends, and conditions in the marketplace gained from claim handling and legal advice to underwriters, advise management of trends that may impact future losses; prepare and deliver presentations on the same to management and claim and underwriting staff.
Legal Research – case law, opinions, statutes, regulations and the like as needed for claim, transactional and coverage matters.
Draft or review and revise memos and alerts assessing law, statutes and regulations.
Review and revise draft motion papers, briefs, and mediation/settlement statements from counsel.
Review documents for production in discovery for coverage actions.
Bachelors degree required.
Juris doctorate degree required.
Licensed to practice law in the state in which you will be working.
Education, Work Experience, & Knowledge
0-3 years of general legal or claim handling work experience preferred.
Maintain license to practice law in the state of your principal office location and remain current with all CLE credits.
Job Specific Technical Skills & Competencies
Able to learn negotiation skills and strategies within a litigation and non-litigation context.
Within designated authority limit, able to make decisions and negotiate terms and conditions consistent with Bond standards.
Able to communicate effectively through writing.
Able to communicate legal advice to underwriters and management with input from manager.
Able to develop proficiency in drafting transactional documents.
Can develop the ability to effectively work through conflict and resolve issues with a professional demeanor.
Environmental / Work Schedules / Other
Operates standard office equipment.
Requires extended periods of computer use.
Requires extended periods of sitting.
Travel Requirements: Travel Occasionally
Equal Employment Opportunity Statement
is an equal opportunity employer.
is an equal opportunity employer.