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Associate Cyber Claim Counsel

Company: The Travelers Companies
Location: New York
Posted on: June 12, 2021

Job Description:

Company Summary

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.

Target Openings


Job Description Summary

Effectively manage all assigned First Party Cyber claims of moderate severity or complexity. Fulfill Bond & Specialty Insurance ("Bond") Claim's mission by conducting thorough investigation, analysis, evaluation and disposition of claims to achieve superior customer service and claim results at the most reasonable cost. Interact and collaborate with underwriting colleagues as well as with external business associates.

Primary Job Duties & Responsibilities

  • Learn Cyber Bond business, products, policies and procedures through work experiences and structured training.
  • Effectively manage all assigned Bond claims.
  • Interact with, collaborate with, and provide legal advice and transactional support to claim and underwriting colleagues.

Claim Handling Responsibilities:

  • Within authority limit, thoroughly analyze, investigate, negotiate and resolve Bond claims with active supervision by claims management.
  • Make appropriate decisions within own claim authority and make appropriate recommendations on matters outside of authority to management when necessary.
  • Follow operational policies, procedures, workflow and performance standards to comply with all regulatory and Bond customer service standards.
  • Maintain accurate documentation/information in claim file and Bond Claim
  • Management System (BCMS).
  • Follow Claim documentation standards (e.g. coverage analysis, reserve and settlement rationale, current diary).
  • Prepare reports (e.g. Large Loss Memos, quarterly claim, EC, trial, class action) for management that accurately reflect loss development, potential/actual financial exposure, coverage issues, and 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 vendors on matters, actively utilizing statements of work and budgets.
  • Communicate reserve adjustments to underwriting.
  • Represent Management Liability Claim in claim strategic initiatives.

Legal Support Responsibilities:

  • Answer routine legal questions posed by underwriters that impact underwriting decisions, combining legal research with knowledge gained based on experience handling claims. Answer more complex legal questions with some guidance.
  • Advise underwriters regarding the legal effect of bond and policy language and the extent of coverage.
  • Maintain an active license in the state of your principal office location and remain current with all CLE credits.

Transactional Work and Negotiation:

  • Review and draft routine releases and settlement agreements, including confidentiality and no disclosure provisions, for sufficiency, and drafting same for direct handled matters.
  • Negotiate routine 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 50 state surveys and white papers.
  • Based on basic 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, transactional 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.

Minimum Qualifications

  • 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

  • 0-3 years of general legal or claim handling work experience preferred.
  • Exposure to cyber and data privacy issues
  • Maintain license to practice law and remain current with all CLE credits.

Job Specific Technical Skills & Competencies

  • Able to learn 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 with input from manager.
  • Able to develop proficiency in drafting transactional documents.
  • Can develop the ability to effectively work through conflict and resolve issues with a professional demeanor.

Licensing or Certificates

Maintain all necessary active adjusters licenses and remain current with all CE credit requirements.

Environmental / Work Schedules / Other

  • Travel Requirements: Travel Occasionally

Employment Practices

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 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.

Keywords: The Travelers Companies, New York , Associate Cyber Claim Counsel, Other , New York, New York

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