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Job Description Summary
This position will manage Real Estate Professional Liability claims of low to moderate exposure, and may also handle some Accountants Professional Liability claims after a period of time. Real Estate Professional claims include errors and omissions (E&O) claims against real estate agents and brokers, and property managers. Accountants Professional claims include liability arising from tax preparation, audits, bookkeeping, payroll services, and other Accounting practice areas. Under moderate supervision, fulfill Bond & Specialty Insurance (Bond) Claims mission by conducting thorough investigation, analysis, evaluation and disposition of claims and litigation to achieve superior customer service and claim results at the most reasonable cost.
Primary Job Duties & Responsibilities
Manage and directly handle a variety of Real Estate Professional Liability claims and litigation, and potentially Accountants Professional Liability claims, reporting to the Managing Director for the team. Coordinate and collaborate on risk management services (presentations and written content) provided by the claim team in support of the Professional Liability business unit. Claims assigned will initially be of low to moderate exposure, but may increase in complexity and exposure over time as proficiency is demonstrated. This position will involve occasional travel for mediations/settlement conferences, account meetings, and risk management presentations.
CLAIM HANDLING RESPONSIBILITIES:
Within authority limit, thoroughly analyze, investigate, negotiate and resolve moderate severity Bond claims and litigation 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 potential responsible party,
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.
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 including drafting coverage opinions with case law included.
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 no 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.
Bachelors degree required.
Juris doctorate degree required.
Properly licensed, registered or authorized, and in good standing, to practice law in the jurisdiction in which you will be working.
Education, Work Experience, & Knowledge
3-5 years of general legal or claim handling work experience preferred (less experience may be considered at the Associate Claim Counsel level).
Preferred candidate will have experience in Professional Liability claims in an insurance environment and/or relevant prior private practice experience as an attorney.
Maintain license to practice law and remain current with all CLE credits.
Licensing or Certificates
Maintain all necessary active adjusters licenses and remain current with all CE credit requirements.
Job Specific Technical Skills & Competencies
Able to use negotiation skills and strategies within a litigation and non-litigation context.
Within designated authority limit, able to make decisions and negotiate terms and conditions consistent with Bond standards.
Able to communicate effectively through writing.
Able to communicate legal advice to underwriters and management independently and/or with input from manager.
Proficient in drafting transactional documents.
Can effectively work through conflict and resolve issues with a professional demeanor.
Strong verbal and written communication skills along with the ability to multi-task competing priorities.
Environmental / Work Schedules / Other
Travel Requirements: Travel Occasionally
Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.
If you have 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.