Legal

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

$85,900.00 - $141,800.00

1

Under moderate 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.

Effectively manage all assigned Bond claims, typically of moderate severity or complexity, including Employment Practices Liability, Directors and Officers Liability, Fiduciary Liability and Miscellaneous Professional Liability.

Interact with, collaborate with, and provide legal advice and transactional support to claim and underwriting colleagues.

This job does not manage others.

Travelers offers a hybrid work location model that is designed to support flexibility.

What Will You Do?

• Claim Handling Responsibilities:
  Within authority limit, thoroughly analyze, investigate, negotiate and resolve moderate severity Bond claims with moderate supervision by claims management.
   
  Make appropriate decisions within own claim authority and make appropriate recommendations to management when necessary.
   
  Follow operational policies and procedures, including compliance, regulatory and Bond performance and customer service standards.
   
  Maintain 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).
   
  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.
   
  Identify and optimize pre-loss recovery opportunities through identification of potential sources of recovery, to include any third parties (Employment Agencies, E&O, or other insurance, etc.).
   
  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. Guidance is needed for non-routine litigation.
   
  Solicit input and guidance from management when resolving claims which are beyond authority level.   Communicate reserve adjustments to underwriting.
  
  Assist/mentor less experienced colleagues in claim resolutions.
   
  Represent Management Liability Claim in claim strategic initiatives (or lead team); lead Management Liability Claim strategic initiatives.
    
  Legal Support Responsibilities:
  Answer legal questions posed by underwriters that impact underwriting decisions, combining legal research with knowledge gained based on experience handling claims.
  Advise underwriters regarding the legal effect of bond and policy language and the extent of coverage.
  Answer 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:
  Policy interpretation/coverage analysis.
  Draft or review/revise new product initiatives, policies and policy endorsements and provide legal opinions relative to same.
   
  Transactional Work and Negotiation:
  Reviewing and drafting releases and settlement agreements, including confidentiality and non disclosure provisions, for sufficiency, and drafting same for direct handled matters. Advise non-attorney claim professionals on the same.
  Negotiate settlements/resolutions directly or via counsel using legal arguments relevant to liability, damages, and coverage. 
  
  Legal Research and Writing:
  Based on 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 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.

What Will Our Ideal Candidate Have?

• One to five years of relevant legal or claim handling work experience.
• 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?

• Bachelor’s Degree.
• Juris Doctorate Degree.
• Properly licensed, registered or authorized, and in good standing, to practice law in the jurisdiction in which you will be working.