Sr Claim Counsel, Bond

4 days ago


Independence, Missouri, United States 020 Travelers Indemnity Co Full time
About Us

At Travelers Indemnity Co, we're committed to delivering exceptional products and services to our customers. Our team is dedicated to fostering a culture of innovation, collaboration, and excellence.

Job Summary

We're seeking a highly skilled Claim Counsel to join our Bond and Specialty Insurance team. As a key member of our team, you'll be responsible for conducting thorough investigations, analyzing claims, and providing expert advice to our underwriting colleagues.

Key Responsibilities
  • Analyze and investigate claims of varying levels of severity, working closely with claims management and outside counsel as needed.
  • Prepare and present reports to management, highlighting loss development, potential/actual financial exposure, and claim and recovery strategies.
  • Communicate with underwriting on significant claim exposures, providing expert advice and guidance.
  • Identify 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, 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, drafting and filing proofs of claim as needed.
  • 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, drafting and negotiating appropriate agreements to document indemnity changes related to such transactions.
  • Support underwriting marketing efforts, including participation in broker and account visits, risk mitigation seminars, and authoring customer-focused white papers and articles.
  • Obtain and maintain required adjusters' licenses.
Requirements
  • 6+ 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 limits.
  • 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 We Offer
  • Competitive salary and benefits package.
  • Opportunities for professional growth and development.
  • A dynamic and inclusive work environment.
  • A comprehensive wellness program.
  • A generous time-off policy.


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