Associate Claim Counsel

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 160 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.

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

$87,400.00 - $144,400.00

Target Openings

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 performance and payment bond claims of varying levels of severity with active 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.
• Travel to and attend mediations, settlement conferences, claim conferences, field office visits, trials and depositions.
• Develop the ability to identify all recovery opportunities and coordinate recovery efforts with the Recovery Management Unit and Claim management.
• Provide legal review and advice to underwriters on bond obligations and project contract documents.
• 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. 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 takeover, completion, subcontractor ratification, financing and collateral.
• 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 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?

What is a Must Have?

What Is in It for You?

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 / .

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