Senior Claim Counsel PCL D&O and Transactional Liability
Location: New York City , New York
Required Education: Doctorate
Internal Number: R-19631
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. As a valued member of our team, in addition to claim handling, you also will provide legal advice to our underwriting colleagues and non-attorney claim colleagues, and participate in BSI claim strategic initiatives. Travelers' Public Company Liability Team provides management liability coverage for publicly traded companies of all types and sizes and private companies with public debt. The Public Company Liability Team also provides transactional liability coverage for mergers and acquisitions.
Travelers offers a hybrid work location model that is designed to support flexibility. #LI-Hybrid.
What Will You Do?
Follow operational policies to analyze, investigate, and resolve BSI claims of varying levels of severity with limited 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.
Identify all 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.
Refine policy interpretation/coverage analysis skills including drafting coverage opinions with case law included.
Negotiate settlements/resolutions, review releases and settlement agreements, including confidentiality and non-disclosure provisions.
Support underwriting marketing efforts, including participation in broker and account visits and risk mitigation seminars and authoring customer-focused white papers and articles.
Monitor marketplace conditions, conduct research, and draft reference materials to inform claim and underwriting colleagues on law impacting Travelers’ underwriting and claim decisions.
Obtain and maintain required adjusters’ licenses.
Perform other duties as assigned.
What Is in It for You?
Health Insurance: Employees and their eligible family members – including spouses, domestic partners, and children – are eligible for coverage from the first day of employment.
Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
Wellness Program: The Travelers wellness program is comprised of tools and resources that empower you to achieve your wellness goals. In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs. Through Life Balance, you’re eligible for five free counseling sessions with a licensed therapist.
Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.
What Will Our Ideal Candidate Have?
Six or more years of relevant legal or claim handling work experience.
Public Company D&O and Reps & Warranties claim handling 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 limit.
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 is a Must Have?
Juris Doctorate Degree.
Properly licensed, registered or authorized, and in good standing, to practice law in the jurisdiction in which you will be working.
Travelers has 30,000 employees in the United States, Canada, the United Kingdom, Ireland and Brazil.
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