at Travelers Insurance Company in Naperville, Illinois, United States
Job 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.
Job Category
Claim, Legal
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
$105,100.00 – $173,400.00
Target Openings
1
What 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 position conducts thorough investigation, analysis, evaluation, and disposition of claims and claim litigation to achieve superior customer service and to optimize claim results. As a valued member of our team, you also will provide legal advice to our underwriting colleagues and non-attorney claim colleagues, and participate in BSI claim strategic initiatives. Travelers’ Recovery Management Team focuses on subrogation, salvage, and loss mitigation on Surety and Management Liability claims.
What Will You Do?
+ 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.
+ 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.
+ Obtain and maintain required licenses.
+ Perform other duties as assigned.
What Will Our Ideal Candidate Have?
+ 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.
What is a Must Have?
+ 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.
What Is in It for You?
+ 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.
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 (4-ESU@travelers.com) 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 http://careers.travelers.com/life-at-travelers/benefits/ .
