Claim Counsel, Surety
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About The Position
As a Claim Counsel within the Bond & Specialty Insurance (BSI) team at Travelers Insurance Company, you will play a crucial role in managing and resolving claims related to surety bonds and construction services. This position involves conducting thorough investigations, analyses, and evaluations of claims and claim litigation to ensure superior customer service and optimize claim results. You will work closely with a team of legal, accounting, and engineering professionals to handle claims on construction-related surety bonds, mitigate exposures, and provide a wide range of business support and legal services. Your responsibilities will also include providing legal advice to underwriting colleagues and participating in strategic initiatives within the BSI claims team. In this role, you will follow operational policies to analyze, investigate, and resolve claims of varying severity with moderate supervision. You will prepare and present detailed reports for management that reflect loss development, financial exposure, reserve adjustments, and recovery strategies. Additionally, you will manage outside counsel, communicate significant claim exposures to underwriting, and identify recovery opportunities. Your duties will also involve attending mediations, settlement conferences, and trials, as well as providing legal reviews and advice on bond obligations and project contracts. You will engage in risk mitigation analysis, monitor bankruptcy proceedings, negotiate resolutions of bonded obligations, and review documents related to mergers and asset sales. Supporting underwriting marketing efforts and maintaining required adjusters' licenses will also be part of your responsibilities. This position requires a strong ability to build collaborative relationships and effectively communicate coverage determinations, making sound decisions within your authority limit.
