Claim Counsel, Accountants and Real Estate Professional Liability Job - (hartford, new york) in Glens Falls, New York For Sale
Job Opening IDxxxxBR
TitleClaim Counsel, Accountants and Real Estate Professional Liability
CountryUS
State/Region/ProvinceConnecticut, New York
CityHartford, New York City
Job CategoryClaim, Legal
Position TypeExperienced/Professional
Company InformationSolid reputation, passionate people and endless opportunities. Thats Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers : and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.
Job SummaryFulfill Bond and Financial Products (+Bond+) Claim+s mission by conducting thorough investigation, analysis, evaluation and disposition of claims to achieve superior customer service and claim results at the most reasonable cost. Effectively manage all assigned Bond claims, typically of moderate severity or complexity. Interact and collaborate with claim and underwriting colleagues as well as with external business associates.
Primary Job Duties and ResponsibilitiesRESPONSIBILITIES + CLAIM HANDLING 1. Maintain all necessary active adjusters+ licenses and remain current with all CE credit requirements. 2. Within authority limit, thoroughly analyze, investigate, negotiate and resolve moderate severity Bond claims with moderate supervision by claims management. 3. Make appropriate decisions within own claim authority and make appropriate recommendations to management when necessary. 4. Comply with all policies and procedures, including compliance, regulatory and Bond performance and customer service standards. 5. Be accountable for accurate documentation/information in claim file and Bond Claim Management System (BCMS) and adhere to Claim documentation standards (i.e. coverage analysis, reserve and settlement rationale, current diary). 6. Prepare reports (i.e., Large Loss Memos, quarterly claim, EC, trial, class action) to management which accurately reflect loss development, potential/actual financial exposure, coverage issues, claim and recovery strategies. 7. Proactively optimize pre:loss recovery opportunities through indemnitors and collateral. 8. Identify all recovery opportunities and coordinate recovery efforts with the Recovery Management Unit and claims management. 9. Within authority limit, retain, monitor, manage and approve payments to outside counsel on routine litigation matters, actively utilizing litigation management plans and budgets. Guidance is needed for non:routine litigation. 10. Within authority limit, make quick, sound decisions and negotiate terms and conditions consistent with Bond standards. 11. Solicit input and guidance from management when resolving claims which are beyond authority level. Communicate reserve adjustments to underwriting. 12. Assist/mentor less experienced colleagues in claim resolutions. 13. Recognize issues with broader implications to Bond and Travelers. 14. Represent Surety or Management Liability Claim in claim strategic initiatives (or lead team); lead Surety or Management Liability Claim strategic initiatives. 15. Maintain knowledge of coverage, legislative and industry:related initiatives and judicial trends. 16. Share newsletters, webinar information, case analyses, results of counsel+s legal research and/or litigation strategies with underwriting, Claim and Claim management. RESPONSIBILITIES + LEGAL SUPPORT 1. Maintain an active license in the state of your principal office location and remain current with all CLE credits. 2. Provide legal support to business partners. Review transactional documents to provide legal advice and risk analysis to business partners on impact to indemnity and security packages. Review customer contracts to provide input on legal advice and risk analysis of contract language. Participate in drafting internal topic documents (e.g., white papers, 50 state surveys). 3. Review and analyze Bond forms to provide input on legal ad
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