AVP, Complex Claim Liability Specialist

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 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 Category

Claim

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position 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. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range

$129,200.00 - $213,200.00

Target Openings

1

What Is the Opportunity?

Under general supervision, this position is responsible for investigating, evaluating, reserving, negotiating and resolving assigned serious and complex Life Science medical products, clinical trial and pharmaceutical bodily injury claims, as well as General Liability Coverage B claims and E&O claims involving Life Sciences insureds. Provides quality claim handling throughout the claim life cycle (customer contacts, coverage, investigation, evaluation, reserving, litigation management, negotiation, and resolution) including maintaining full compliance with internal and external quality standards and state specific regulations. Provides consulting and training and serves as an expert technical resource to other claim professionals, business partners, customers, and other stakeholders as appropriate or required. This position does not manage staff.

What Will You Do?

• CLAIM HANDLING:
• Directly handle assigned severe/complex Life Science medical products, clinical trial and pharmaceutical bodily injury claims, as well as General Liability Coverage B claims and E&O claims involving Life Sciences insureds.
• Provide quality customer service and ensure file quality, timely coverage analysis and communication with insured based on application of policy information to facts or allegations of each case.
• Consult with Manager on use of Claim Coverage Counsel as needed.
• Directly investigate each claim through prompt and strategically-appropriate contact with appropriate parties such as policyholders, accounts, claimants, law enforcement agencies, witnesses, agents, medical providers and technical experts to determine the extent of liability, damages, and contribution potential. Interview witnesses and stakeholders; take necessary statements, as strategically appropriate.
• Complete outside investigation as needed per case specifics.
• Utilize evaluation documentation tools in accordance with department guidelines.
• Proactively review Evaluation Tool for adherence to quality standards and trend analysis.
• Utilize diary management system to ensure that all claims are handled timely. At required time intervals, evaluate liability and damages exposure.
• Establish and maintain proper indemnity and expense reserves.
• Recognize and implement alternate means of resolution.
• Manages litigated claims.
• Develop litigation plan with staff or panel counsel, including discovery and legal expenses, to assure effective resolution and to satisfy customers.
• Attend depositions, mediations, arbitrations, pre-trials, trials and all other legal proceedings, as needed.
• Update appropriate parties as needed, providing new facts as they become available, and their impact upon the liability analysis and settlement options.
• Evaluate all claims for recovery potential; directly handle recovery efforts and/or engage and direct Company resources for recovery efforts.
• Assist underwriting business partners in marketing and account contact efforts, as well as contract and policy reviews.
• Attend and/or present at roundtables/ authority discussions for collaboration of technical expertise resulting in improved payout on indemnity and expense.
• Share experience and deep knowledge of creative resolution techniques to improve the claim results of others.
• LEADERSHIP
• Actively provide mentoring and coaching to less experienced claim professionals to increase the technical expertise and improve bench strength.
• COMMUNICATION/INFLUENCE:
• Provide guidance to underwriting business partners with respect to accuracy and adequacy of, and potential future changes to, loss reserves on assigne