Claim Counsel, Bond
Dynamic professional sought with claim experience in handling moderate severity claim and/or litigation, to include Employment Practices Liability, Directors & Officers Liability, Fiduciary Liability, Lawyers Professional Liability, Fidelity/Commercial Crime, and Cyber Liability. Within authority limit, thoroughly analyze, investigate, negotiate and resolve claims with moderate supervision, making appropriate recommendations to management when necessary. Provide world class customer service to our Insureds, Agents, Brokers and Underwriters.
Primary Job Duties & Responsibilities
Maintain timely and accurate file documentation/information in our claim management system as per claim handling best practices including coverage analysis, damage and liability evaluations, proactive claim/litigation resolution management and settlement rationale, claim file diary to ensure claim handling deadlines are met and preparation of required claim reports. Identify recovery management opportunities in the earliest stages of claim development. Within authority limit, retain, monitor, manage and approve payments to outside counsel actively utilizing litigation management plans and budgets. Maintain knowledge of coverage law, legislative and industry-related initiatives and judicial trends and provide claim updates and coverage interpretation to regional underwriters.
Maintain strong and effective communication skills (written and oral), superior customer service skills, be self-motivated, practice excellent time management and successful multi-tasking skills, prove the ability to work in a team environment and ability to successfully function independently.
Education, Work Experience & Knowledge
Law degree preferred with 5+ years of litigation experience, and/or 4 year college degree with 5+ years managing Claims/Litigation handling: 3rd Party Liability: Employment Practices Liability, Directors and Officers Liability, Cyber Liability, Fiduciary Liability, Lawyers Professional Liability. 1st party coverages: Commercial Crime, Financial Institution Bonds, Cyber Liability.
Job Specific & Technical Skills & Competencies
Familiarity with complex Employment Practices, Directors & Officers, Fiduciary, Fidelity/Crime, and Professional Liability litigation from inception to final resolution; Ability to review insurance contracts to clearly and correctly interpret coverage; Strong technical and organizational skills (written and verbal), with the ability to influence, negotiate, and resolve claims; Strong listening and communication skills to effectively communicate coverage decisions and claim strategies; Focus on customer service and the development of productive internal and external relationships; Maintain a positive and professional ‘team’ approach with customers and Bond colleagues; Present a positive, professional image of the company through demonstrated expertise and knowledge of the company, its products and services.
COMPETENCIES – LEGAL SUPPORT 1. Strong legal research skills. 2. Effectively articulates legal issues to claim team, business partners and customers. COMPETENCIES – TEAMWORK 1. Builds and maintains effective working relationships with peers and managers within and across organizational lines. 2. Developing ability to build strong teams of internal and external resources that are technically competent and characterized by a high level of coordination and trust to resolve claim matters. 3. Balances individual needs with Business Unit goals and fosters cooperation throughout the team. 4. Works with peers to resolve issues by listening for understanding, discussing all issues related to the situation, and coming to a solution. COMPETENCIES – TECHNICAL ABILITY 1. Knowledge of moderately complex claims (e.g. non-routine, multi-party litigation). 2. Assures compliance with litigation management and budgeting plans, including fee audit. 3. Develops claim strategies and implements within limits of authority. 4. Ability to use Bond technology tools proficiently.COMPETENCIES ? LEADERSHIP ? BOND & FINANCIAL PRODUCTS 1. Sets clear direction by defining goals and priorities. 2. Takes ownership and responsibility for decisions and outcomes. 3. Shares success with the team. 4. Professional image. 5. Respect and trust of colleagues. 6. Well organized. 7. Meets deadlines. 8. Consistently demonstrates integrity, initiative and innovation in achieving results. 9. Takes accountability for development 10. Sense of urgency. 11. Self-motivated. COMPETENCIES – LEADERSHIP-TRAVELERS LEADING SELF Exhibits Courage, Conviction, and Credibility Takes the lead on unpopular though necessary actions. Acts decisively to tackle difficult problems. Exhibits character through words and deeds, encourage honesty throughout the organization. Is viewed as capable, effective, and able to enlist others. Communicated Effectively and Influences Others Clearly articulates even the most complex concepts so others understand. Influences others without using formal authority. Is open to being influenced to explore new possibilities. Adjusts own style according to the demands of the situation. Applies Critical Thinking Analyzes complex issues and problems then synthesizes information to identify key issues and make decisions. Focuses on the big picture in a complex situation and relies on guiding values and intuition to arrive at the best course of action. Integrates different perspectives and ideas. Demonstrates Self-Awareness Demonstrates a strong drive to achieve with a balance of humility. Seeks and embraces candid feedback with resiliency. Reflects on and learns from experience. Admits mistakes and faults.
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