EPL & D&O Liability Claim Counsel

Travelers • Boston, MA

5d • $111,600 - $184,200

About The Position

Travelers Insurance is seeking a Claim Counsel to join its Bond & Specialty Insurance (BSI) team, which provides management and professional liability, cyber, crime insurance, and surety bonds to or on behalf of businesses and nonprofits of all sizes. The BSI Claim Counsel team investigates, analyzes, evaluates, and resolves claims and claim litigation to provide superior customer service and optimize claim outcomes.

The Claim Counsel manages assigned BSI claims, typically of lower to moderate severity and complexity, with moderate guidance from management. The role includes managing outside counsel relationships, negotiating settlements, supporting stakeholders throughout the claims process, providing legal advice and insight to underwriting and non-attorney claim colleagues, and contributing to BSI claim strategic initiatives. The role requires an active legal license in the state of the principal office and an Insurance Adjuster License or licenses, which generally must be obtained within three months of starting. Ongoing continuing legal education and adjuster-license continuing education are required.

Requirements

• Bachelor’s degree.
• Juris Doctor degree.
• Properly licensed, registered, or authorized and in good standing to practice law in the jurisdiction where the employee will work.
• At least two years of relevant legal experience.
• Valid driver’s license or access to alternative transportation for travel to mediations, conferences, field offices, trials, and/or depositions.
• Acquire required Insurance Adjuster License(s), generally within three months of starting, and complete mandated continuing education.
• Maintain an active legal license in the state of the principal office location and remain current with Continuing Legal Education.
• Ability to work through conflict and resolve issues professionally.
• Ability to make sound decisions and negotiate terms and conditions within designated authority limits.
• Strong verbal and written communication skills, including the ability to clearly articulate coverage determinations.
• Strong time-management skills, ability to proactively manage multiple priorities, and attention to detail, data, and analytics.
• Ability to build and maintain effective, collaborative relationships with colleagues.

Nice To Haves

• Five or more years of relevant legal or claim-handling work experience.

Responsibilities

• Analyze, investigate, and resolve Bond & Specialty claims of predominantly lower to moderate severity and complexity, following operational policies.
• Retain, monitor, and manage outside counsel and other applicable vendors using incident-response or litigation-management plans and budgets; negotiate settlements when appropriate.
• Prepare management reports on loss development, financial exposure, and resolution strategies.
• Develop and coordinate recovery efforts with the Recovery Management Unit as needed.
• Attend mediations, settlement conferences, trials, and depositions to support claim resolution, and attend other internal or external business meetings as appropriate.
• Provide legal and business support to underwriting colleagues, which may include negotiating indemnity documentation, drafting product forms and endorsements, reviewing contracts and bond forms, and supporting marketing or risk-management efforts through broker visits and seminars.
• Monitor industry trends and market dynamics and communicate key insights and strategic initiatives to relevant stakeholders.
• Ensure stakeholders and customers feel secure, respected, and cared for throughout the claims process.
• Ensure compliance with BSI Claims processes, procedures, and best practices.
• Maintain thorough documentation of claim activities, decisions, and communications in accordance with record-keeping standards and confidentiality protocols.
• Acquire and maintain required Insurance Adjuster License(s) and continuing education credits.
• Maintain an active legal license in the state of the principal office location and remain current with Continuing Legal Education requirements.
• Prepare timely and thorough coverage evaluations and correspondence to insureds.
• Maintain and note claim files pursuant to company best practices.
• Perform other duties as assigned.

Benefits

• Health insurance coverage for eligible employees and family members from the first day of employment.
• Dollar-for-dollar 401(k) matching on contributions up to the first 5% of eligible pay, subject to an annual maximum.
• Paying it Forward Savings Program contributions to an employee’s 401(k) when the employee makes student-loan payments.
• Pension Plan funded 100% by Travelers.
• At least 20 days of paid time off annually.
• Nine paid company holidays.
• Wellness program with tools, discounts, and resources for wellness goals and caregiving needs.
• Mental health program with access to free professional counseling services, health coaching, and other resources.
• Matching Gift and Volunteer Rewards program.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Ph.D. or professional degree