Sr. Claim Counsel - Surety, Construction Services

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 170 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. Compensation Overview The annual base salary range for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary 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. Employees are also eligible for performance-based cash incentive awards. Salary Range $139,400.00 – $230,000.00 Target Openings 1 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 team 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 will also provide legal advice to our underwriting colleagues and non‑attorney claim colleagues, and participate in BSI claim strategic initiatives. What Will You Do? Follow operational policies to analyze, investigate, and resolve BSI claims of varying levels of severity with limited 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. 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. Identify potential sources of recovery, investigate, develop and refine recovery strategies, and resolve claims within authority. Research, analyze and provide recovery and loss mitigation advice to claim and underwriting colleagues on claims of varying complexity, including drafting and reviewing settlement agreements, releases, assignments, and other documents modifying recovery policy provisions or impacting recovery opportunities. Provide legal review and advice to underwriters on bond obligations and project contract documents. Review, draft and modify bond forms, contract documents and other agreements such as indemnity, takeover, completion, subcontractor ratification, financing and collateral. Engage in account workout risk mitigation analysis and assist in execution of strategies. Monitor account bankruptcy proceedings and document post‑bankruptcy indemnity. Draft and file proofs of claim and advise on potential recovery. Retain outside counsel where appropriate to protect or enforce surety rights. Negotiate the resolution of bonded obligations on defaulted contracts, including indemnity agreements, letters of credit, set‑aside letters from lenders, intercreditor agreements and subordination agreements. Determine whether bond exposure has expired by reviewing bond terms, applicable law, and court dockets. Support underwriting marketing efforts, including participation in broker and account visits and risk mitigation seminars, and author customer‑focused white papers and articles. Obtain and maintain required adjusters’ licenses. Perform other duties as assigned. What Will Our Ideal Candidate Have? Six 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. Three 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. Travelers also offers a Pension Plan that is 100% funded by Travelers and a Paying it Forward Savings Program for student loan debt. Paid Time Off: Minimum of 20 days Paid Time Off annually, plus nine paid company holidays. Wellness Program: Access to free professional counseling services, health coaching and other resources to support your daily life needs. Volunteer Encouragement: Matching Gift and Volunteer Rewards programs to support charitable giving. 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. In accordance with local law, candidates seeking employment in Colorado are not required to disclose dates of attendance at or graduation from educational institutions. 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. To learn more about our comprehensive benefit programs please visit #J-18808-Ljbffr