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Claim Counsel, Bond and Specialty Insurance (Bond)
Refer job# NMIC135845
 
Claim Counsel, Bond and Specialty Insurance (Bond) The candidate, under moderate supervision, will fulfill Bond and Specialty Insurance (Bond) Claims mission by conducting thorough investigation, analysis, evaluation and disposition of claims to achieve superior customer service and claim results at the most reasonable cost. Will effectively manage all assigned bond claims, typically of moderate severity or complexity, including employment practices liability, directors and officers liability, fiduciary liability and miscellaneous professional liability. Interact with, collaborate with, and provide legal advice and transactional support to claim and underwriting colleagues. Within authority limit, thoroughly analyze, investigate, negotiate and resolve moderate severity Bond claims with moderate supervision by claims management. Make appropriate decisions within own claim authority and make appropriate recommendations to management when necessary. Follow operational policies and procedures, including compliance, regulatory and Bond performance and customer service standards. Maintain accurate documentation/information in claim file and Bond Claim Management System (BCMS) and adhere to Claim documentation standards (i.e. coverage analysis, reserve and settlement rationale, current diary). Prepare reports (i.e., Large Loss Memos, quarterly claim, EC, trial, class action) to management which accurately reflect loss development, potential/actual financial exposure, coverage issues, claim and recovery strategies. Identify and optimize pre-loss recovery opportunities through identification of potential sources of recovery, to include any third parties (Employment Agencies, E&O, or other insurance, etc.). 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 counsel on routine litigation matters, actively utilizing litigation management plans and budgets. Solicit input and guidance from management when resolving claims which are beyond authority level. Communicate reserve adjustments to underwriting. Assist/mentor less experienced colleagues in claim resolutions. Represent Management Liability Claim in claim strategic initiatives (or lead team). Lead Management Liability Claim strategic initiatives. Answer legal questions posed by underwriters that impact underwriting decisions, combining legal research with knowledge gained based on experience handling claims. Advise underwriters regarding the legal effect of bond and policy language and the extent of coverage. Answer legal questions posed by non-lawyer claim professionals to assist them in determining the legal standards applicable to claim handling and claim decisions. Maintain an active license in the state of principal office location and remain current with all CLE credits. Draft or review/revise new product initiatives, policies and policy endorsements and provide legal opinions relative to same. Review and draft releases and settlement agreements, including confidentiality and no disclosure provisions, for sufficiency, and drafting same for direct handled matters. Advise non-attorney claim professionals on the same. Negotiate settlements/resolutions directly or via counsel using legal arguments relevant to liability, damages, and coverage. Based on 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. 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. Bachelor's degree and J.D. degree are required. Should be licensed to practice law in California. Should preferably have 3-5 years of general legal or claim handling work experience, in one or more of the following areas: employment practices liability, directors and officers liability, fiduciary liability and miscellaneous professional liability.
 
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This particular job is currently not active. However, since our clients regularly share with us similar and other job openings, we strongly recommend that you submit your resume. We shall review your resume and get in touch with you as soon as a suitable vacancy comes up to further discuss your interest in exploring the opportunity. Assisting you is our highest priority.

Please be assured that none of your materials will be forwarded to any employer without your consent. Of course, all inquiries are kept strictly confidential.
 
 

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