• Analyze, investigate, and resolve Bond & Specialty Claims of lower severity and complexity with close supervision, following operational policies.
• With close management supervision, retain, monitor, and manage outside counsel (and other vendors, as applicable) by actively utilizing incident response and/or litigation management plans and budgets, and negotiate settlements when appropriate to ensure effective legal and/or claim outcomes, involving litigation matters of lower severity and complexity.
• Prepare management reports on loss development, financial exposure, and resolution strategies with a high degree of guidance from management.
• Develop and coordinate recovery efforts with the Recovery Management Unit to optimize loss mitigation opportunities, as needed.
• Attend mediations, settlement conferences, trials, depositions to support claim resolution, and may attend other internal/external business meetings with supervision as needed.
• With significant supervision, provide a variety of legal and business support to underwriting colleagues which varies by business unit and may include negotiating indemnity documentation, drafting product forms and endorsements, reviewing contracts and bond forms, all involving matters of lower complexity, and supporting marketing and/or risk management efforts through broker visits and seminars.
• Ensure stakeholders/customers feel ‘secure, respected, and cared for’ throughout the duration of the claims process.
• Ensure compliance with BSI Claims processes, procedures, and best practices.
• Maintain thorough documentation of claim activities, decisions, and communications, adhering to record-keeping standards and confidentiality protocols.
• To perform the essential functions of this job, acquisition and maintenance of Insurance Adjuster License(s) is required to comply with state and Travelers’ requirements. Generally, license(s) must be obtained within three months of starting the job and must obtain ongoing continuing education credits as mandated. Additionally, the maintenance of an active legal license in the state of your principal office location and remaining current with all Continuing Legal Education (CLE) is required to perform this role.
• coverage evaluations and correspondence to Insureds.
• Maintain and note claim files pursuant to company best practices.
• Perform other duties as assigned.