- Follow operational policies to analyze, investigate, and resolve BSI claims of varying levels of severity with moderate 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.
- Continue to develop the ability to 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.
- Recovery Management specific:
- Coordinate recovery efforts with Claim Professionals to identify potential sources of recovery and optimize loss mitigation opportunities.
- Continue to develop the ability to identify potential sources of recovery, and to analyze, investigate, develop and refine recovery strategies, and resolve claims within authority; retain, manage and direct outside counsel and vendors to optimize outcomes and resolve recovery claims of varying levels of severity.
- Research, analyze and provide recovery and loss mitigation advice to claim and underwriting colleagues on claims of varying complexity, including drafting/reviewing settlement agreements, releases, assignments, and/or other documents modifying recovery policy provisions or impacting recovery opportunities, and provide transactional support to claim and underwriting colleagues.
- Provide legal review and advice to underwriters on bond obligations and project contract documents. Review, draft and/or modify bond forms, contract documents and other agreements including, indemnity, takeover, completion, subcontractor ratification, financing and collateral.
- 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. Draft and file proofs of claim and advise as to potential recovery. 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 indemnity agreements, letters of credit, set aside letters from lenders, intercreditor agreements and subordination agreements.
- Determine whether bond exposure has expired, including for the purpose of releasing collateral, by reviewing bond terms, applicable law, and court dockets (when applicable).
- Monitor marketplace conditions, 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 and negotiate 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.
- Five or more years of relevant legal or claim handling work 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.
- 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.
- Two years of relevant legal experience.
- 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.
-
Assistant General Counsel
1 week ago
Exelon Corporation Philadelphia, United States**Description** · We're powering a cleaner, brighter future. · Exelon is leading the energy transformation, and we're calling all problem solvers, innovators, community builders and change makers. Work with us to deliver solutions that make our diverse cities and communities stro ...
-
Security Manager- Corporate
2 weeks ago
NFI Industries Camden, United StatesThe Security Manager · - Corporate will report to the Vice President of CSS. The Security Manager - Corporate will be responsible to support and direct NFI's Corporate strategy and programs for the Unites States and and Canada. · The Corporate Security Manager is a key leader amo ...
-
Security Manager- Corporate
2 weeks ago
NFI Management Services LLC Camden, United StatesThe Security Manager · - Corporate will report to the Vice President of CSS. The Security Manager - Corporate will be responsible to support and direct NFI's Corporate strategy and programs for the Unites States and and Canada. · The Corporate Security Manager is a key leader amo ...
-
Coach
3 weeks ago
Acenda Integrated Health Glassboro, United StatesIf you want to make a living by making a difference, join Acenda as an · Coach · Acenda Integrated Health is recruiting for a Visitation Counselor to support the Therapeutic Visitation Program in Atlantic County, New Jersey. · As a non-profit organization, we are solely committed ...
-
Registered Dietitian
2 weeks ago
Fresenius Medical Care Wilmington, United States Full timePOSITION FEATURES:State Licensure Required · Full Time RD: 36 Hours Per Week · Full Benefits Included · Associate Level or Registered Dietitian. · Description · Provide your personal attention and kindness, professional insight, and a generosity of spirit. Offer expertise and en ...
-
Manager, Power, Signals
4 days ago
Delaware River Port Authority Lindenwold, United States**This position will be posted from April 29, 2024 to May 10, 2024 by 4:00pm.** · **Basic Purpose of Position**: · The position of Manager-Power, Signals & Communications is responsible for directly supervising the Power & Signals Electrical Foremen in the construction and mainte ...
-
PFMAM Arbitrage Rebate Financial Analyst
4 days ago
U.S. Bank Philadelphia, United StatesAt U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each ...
-
PFMAM Arbitrage Rebate Financial Analyst
1 week ago
U.S. Bank Philadelphia, United StatesAt U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each ...
-
Contract Coordinator
3 weeks ago
The University of Pennsylvania Philadelphia, United StatesUniversity OverviewThe University of Pennsylvania, the largest private employer in Philadelphia, is a world-renowned leader in education, research, and innovation. This historic, Ivy League school consistently ranks among the top 10 universities in the annual U.S. News & World Re ...
-
Senior Account Executive
1 week ago
Digitas Health Philadelphia, United StatesJob Description · Job DescriptionCompany Description · Digitas Health is the Agency of Now: the first global connected-health agency, purpose-built for marketing today. Digitas Health specializes in helping health brands navigate a complex and shifting media environment to create ...
-
Senior Account Executive
1 week ago
Digitas Health Philadelphia, United StatesJob Description · Job DescriptionCompany Description · Digitas Health is the Agency of Now: the first global connected-health agency, purpose-built for marketing today. Digitas Health specializes in helping health brands navigate a complex and shifting media environment to create ...
-
Assistant General Counsel
4 days ago
Exelon Career Site New PHILADELPHIA, United StatesDescription · We're powering a cleaner, brighter future. · Exelon is leading the energy transformation, and we're calling all problem solvers, innovators, community builders and change makers. Work with us to deliver solutions that make our diverse cities and communities stronge ...
-
Loan Agency Specialist
1 day ago
WSFS Bank Wilmington, United StatesJob Description · The Loan Agency Specialist position requires an individual to be responsible for the processing of domestic and foreign (including foreign currency) wires for the Global Capital Markets ("GCM") team. The position requires the Loan Agency Specialist to coordinate ...
-
Selling Sales Manager
17 hours ago
New Home Star Philadelphia, United StatesJob Description · Job DescriptionWe are looking for a New Home Selling Sales Manager who is able and willing to relocate to the greater Harrisburg, Pennsylvania area. Must have previous new home sales experience directly with a home builder in order to be considered. · Want a cha ...
-
Selling Sales Manager
1 day ago
New Home Star Philadelphia, United StatesJob Description · Job DescriptionWe are looking for a New Home Selling Sales Manager who is able and willing to relocate to the greater Harrisburg, Pennsylvania area. Must have previous new home sales experience directly with a home builder in order to be considered. · Want a cha ...
-
Assistant General Counsel
3 days ago
Exelon Corporation Trenton, United States**Description** · We're powering a cleaner, brighter future. · Exelon is leading the energy transformation, and we're calling all problem solvers, innovators, community builders and change makers. Work with us to deliver solutions that make our diverse cities and communities stro ...
-
Security Manager- Corporate
4 days ago
NFI Industries Camden, United StatesThe Security Manager- Corporate will report to the Vice President of CSS. The Security Manager - Corporate will be responsible to support and direct NFI's Corporate strategy and programs for the Unites States and and Canada. · The Corporate Security Manager is a key leader among ...
-
Director of Corporate Security
4 days ago
NFI Industries Camden, United StatesPOSITION SUMMARY: · The Director of Corporate Security Services (CSS) will report to the Vice President of CSS.The Director will be responsible to support and direct NFI's administrative strategy and programs for North America. · The Administrative Director is a key leader amon ...
-
Security Manager- Corporate
5 days ago
NFI Industries Camden, United StatesThe Security Manager- Corporate will report to the Vice President of CSS.The Security Manager - Corporate will be responsible to support and direct NFI's Corporatestrategy and programs for the Unites States andand Canada. · The Corporate Security Manager is a key leader among th ...
-
Director of Corporate Security
3 weeks ago
NFI Industries Camden, United StatesPOSITION SUMMARY: · The Director of Corporate Security Services (CSS) will report to the Vice President of CSS. The Director will be responsible to support and direct NFI's administrative strategy and programs for North America. · The Director is a key leader among the CSS team ...
Surety Claim Counsel Bond - Philadelphia, United States - Travelers Insurance
Description
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
$105, $173,400.00Target Openings
1What 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?
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 believe that we can deliver the very best products and services when our workforce reflects the diverse customers and communities we serve. We are committed to recruiting, retaining and developing the diverse talent of all of our employees and fostering an inclusive workplace, where we celebrate differences, promote belonging, and work together to deliver extraordinary results.
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