Travelers Cyber Claim Counsel, Bond & SI in Overland Park, Kansas
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 Description Summary
Under moderate supervision, fulfill Bond & Specialty Insurance (Bond) Claims mission by conducting thorough investigation, analysis, evaluation and disposition of First Party Cyber Claims to achieve superior customer service and claim results at the most reasonable cost.
Travelers offers a hybrid work location model that is designed to support flexibility.
Primary Job Duties & Responsibilities
CLAIM HANDLING RESPONSIBILITIES:
Within authority limit, thoroughly analyze, investigate, negotiate and resolve moderate severity Bond First Party Cyber 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 (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, co-conspirators, beneficiaries and any third parties.
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 matters,.
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 Management Liability Claim in claim strategic initiatives (or lead team); lead Management Liability Claim strategic initiatives.
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.
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.
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.
Draft reference materials to assist claim and underwriting colleagues in understanding the law that impacts the Company’s underwriting and claim decisions, such as 50 state 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 American Bar Association Tort and Insurance Practice Section.
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.
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 Cyber related legal or claim handling work experience preferred.
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.
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 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/ .