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Under moderate supervision, fulfill Bond & Specialty Insurance (Bond) Claims mission by conducting thorough coverage opinions, investigation, analysis, evaluation and disposition of claims to achieve superior customer service and claim results at the most reasonable cost. Effectively manage all assigned Specialty claims, including cyber claims, typically of moderate severity or complexity. Interact with, collaborate with, and provide legal advice and transactional support to claim and underwriting colleagues. This job does not manage others.
The Specialty Claim Team handles claims under a number of different policies. Coverages include: cyber liability, directors and officers liability, employment practices liability, fidelity and Crime, and other types of miscellaneous professional liability policies.
Toronto - Ontario - Canada
Primary Job Duties & Responsibilities
CLAIM HANDLING: Within authority limit, thoroughly conduct coverage analysis and coverage opinions 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 (e.g Merlin) 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 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 Specialty Claim in claim strategic initiatives (or lead team); lead Specialty Claim strategic initiatives. LEGAL
SUPPORT: Conduct coverage analysis and provide coverage opinions 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 and remain current with all CLE credits. Specialty Claim Specific: Policy interpretation/coverage analysis including drafting coverage opinions with case law included. Provide input in review/revise new product initiatives, policies and policy endorsements and provide legal opinions relative to same. TRANSACTIONAL WORK AND NEGOTIATION: Review and draft moderate to complex coverage and reservation of rights letters and advise broker ,clients as appropriate. Reviewing and drafting releases and settlement agreements, including confidentiality and no disclosure provisions, for sufficiency, and drafting same for direct handled matters. Advise non-lawyer 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: Draft reference materials to assist claim and underwriting colleagues in understanding the law that impacts the Company's underwriting and claim decisions, such as jurisdictional surveys and white papers. 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. Author and /or edit legal treatises/articles (including seminar materials) concerning bond claims in connection with outside organizations (such as the trade or legal as Association). 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.
Bachelors degree required. Juris doctorate degree required. Duly qualified practitioner of law in the province in which you will be working. Minimum of 3 years work experience as a lawyer (including in-house) or claims handling required.
Education, Work Experience & Knowledge
The ideal candidate will have prior specialty insurance work experience in the areas of privacy/cyber, director and officer liability, and errors and omissions liability insurance. 4 or more years of work experience as a lawyer (including in-house) or claims handling preferred.
Job Specific & Technical Skills & Competencies
Able to use negotiation skills and strategies within a litigation and non-litigation context. Able to communicate effectively through writing and in face to face presentations. 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.
Operates standard office equipment (Continuously) Sitting (can stand at will) (Continuously) Use of Keyboards, Sporadic 10-Key (Continuously)
Equal Employment Opportunity Statement
Travelers is an equal opportunity employer.
We are committed to providing accommodation to persons with disabilities. If you require accommodation during the recruitment or interview process we will work with you to accommodate your needs.