Surety Claims Counsel

Industry: Accounting, Finance & Insurance

  •  

Less than 5 years

Posted 155 days ago

This job is no longer available.

Description

The Surety Claim Representative will acknowledge and conduct legal investigation and coordination of financial and construction accounts for low to moderate complex claims to comply with all statutory and regulatory requirements.

The preferred location for this role is Hartford, CT but can be based at any of our offices within the northeast region.

This position can be hired at various levels depending on background and experience.

Responsibilities:

  • Communicate with principals, obligees, insureds, claimants and others to analyze and resolve claims on Hartford fidelity and surety products.
  • Acknowledge and conduct legal investigation and coordination of financial and construction services resources on low to moderate complex claims on Hartford bonds and fidelity policies
  • Review proofs of loss and support documentation on fidelity/commercial claims
  • Investigate payment and performance claims on construction bonds including recommendation of mitigation strategy, reporting to management and implementation of agreed strategy
  • Marshal assets and pursue salvage and subrogation opportunities.
  • Refer litigation matters and actively manage outside litigation to achieve the most cost effective result
  • Select and amend as necessary appropriate form documents to implement mitigation strategy including takeover agreements, completion contracts, and default documents from the principal and salvage agreements
  • Works with more senior staff on large or complex claim situations
  • Self-study, reading and training, to advance development and skills
  • Assist management with special projects including legal research, drafting, document review and other assignments

Qualifications

  • BS/BA degree or appropriate comparable experience
  • J.D. is preferred although significant (5+ years) claim experience in the surety industry may substitute for advanced degree
  • Minimum 3+ years claim experience in handling increasingly complex surety claims is preferred
  • Requires familiarity with standard policy and contract language and the ability to interpret and evaluate contract and policy language
  • Claim Adjuster License in Connecticut or other state with reciprocity required. Must obtain license in all other required states within three months

Compensation

1803539