Associate Cyber Claim Counsel
Company: The Travelers Companies
Location: New York
Posted on: June 12, 2021
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
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
- 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
- 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
- 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
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
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
- 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
- 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
- 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
Education, Work Experience, & Knowledge
- 0-3 years of general legal or claim handling work experience
- Exposure to cyber and data privacy issues
- Maintain license to practice law and remain current with all
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
- 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
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
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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