Claim Counsel, Surety

OverviewJoin to apply for the Claim Counsel, Surety role at Travelers Canada. This role is focused on Bond Insurance Claims, providing coverage opinions, and conducting thorough investigation, analysis, evaluation and disposition of claims to achieve superior customer service and claim results at a reasonable cost.Travelers Canada offers a solid reputation, energetic workspace and opportunities to make a difference. Our aim is to support customers with security and opportunities for our employees.What Is the Opportunity?Under moderate supervision, fulfill Bond Insurance Claims mission by providing coverage opinions, and conducting thorough investigation, analysis, evaluation and disposition of claims to achieve superior customer service and claim results at the most reasonable cost. Effectively manage all assigned Bond claims, typically of moderate severity or complexity. Interact with, collaborate with, and provide legal advice and transactional support to claim and underwriting colleagues.What Will You Do?CLAIM HANDLING: Within authority limit, analyze, investigate, negotiate and resolve moderate severity Bond claims with moderate supervision by claims management.Identify all recovery opportunities and coordinate recovery efforts with the Recovery Management Unit and claims management.Prepare reports (e.g., Large Loss Memos, quarterly claim, EC, trial, class action) to management reflecting loss development, potential/actual financial exposure, coverage issues, claim and recovery strategies.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.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 and adhere to Claim documentation standards (i.e., coverage analysis, reserve and settlement rationale, current diary).Solicit input and guidance from management when resolving claims beyond authority level. Communicate reserve adjustments to underwriting.Assist/mentor less experienced colleagues in claim resolutions.Represent Bond Claim in claim strategic initiatives (or lead team); lead Bond 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 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 help determine the legal standards applicable to claim handling and decisions.Maintain an active license and stay current with required continuing education.BOND CLAIM SPECIFIC: Policy interpretation/coverage analysis including drafting coverage opinions with case law.Provide input in reviewing/revising new product initiatives, policies and 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 directly handled matters.Advise non-lawyer claim professionals on the same.Negotiate settlements/resolutions directly or via counsel using arguments relevant to liability, damages and coverage.Perform other duties as assigned.What Will Our Ideal Candidate Have?Prior work experience in Bond industry preferred.4 or more years of work experience as a lawyer (including in-house) or claims handling preferred.Able to use negotiation skills and strategies within a litigation and non-litigation context.Able to communicate effectively through writing and in person.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.What Is a Must Have?Bachelor’s degree required.Juris Doctorate in provinces outside of Quebec; Bachelor of Civil Law in Quebec.Duly qualified practitioner of law in the province where you will be working.Minimum of 3 years work experience as a lawyer (including in-house) or claims handling required.What Is in It for You?Health Insurance: Employees and eligible family members – including spouses, partners, and children – are eligible for coverage from the first day of employment.Retirement: Travelers provides a core contribution of 3% of total eligible earnings to the Deferred Profit Sharing Plan. Travelers also matches your savings plan contribution up to 5% of base pay.Paid Time Off: Minimum 20 days PTO annually, plus opportunity to purchase up to 36 PTO days per year plus twelve paid company holidays.Wellness Program: Includes tools, discounts and resources, plus access to free counseling, health coaching and other resources for mental health and caregiving needs.Volunteer Encouragement: Matching Gift and Volunteer Rewards program to support giving back to the charity of your choice.Employment PracticesTravelers is an equal opportunity employer. We value the unique abilities and talents each individual brings and recognize that our differences contribute to our success. We are committed to providing accommodation to persons with disabilities during recruitment or interview process. If you have questions regarding physical requirements, please email us for assistance. Travelers reserves the right to fill this position at a level above or below the posting. For more on benefits, please visit http://careers.travelers.com/life-at-travelers/benefits/.Location: North York, Ontario, Canada. Salary: CA$150,000.00–CA$180,000.00. #J-18808-Ljbffr