Job Description
Employee Resource Groups: Our inclusive Employee Resource Groups empower employees to be their best authentic selves by leveraging their unique perspectives to make a positive impact across Travelers. Employee Resource Groups include Black Professionals & Allies, Pride Plus, Veterans Network, Women’s Link, Multicultural Diversity, Emerging Professionals and Working Parents Network.
The Business Torts Life Sciences Major Case Specialist is a highly skilled and experienced individual responsible for investigating, evaluating, reserving, negotiating and resolving complex claims in the life sciences industry. This role requires a strong understanding of the legal and regulatory landscape in this field, as well as advanced analytical and negotiation skills. The ideal candidate will have a background in law and at least 5-7 years of experience in medical products and/or pharmaceutical litigation or claim handling.
As a member of the Travelers team, the Business Torts Life Sciences Major Case Specialist will be part of a company that has been providing exceptional property casualty insurance for over 160 years. The company's commitment to its customers, communities, and employees is reflected in its culture of innovation and collaboration. Employees are eligible for a comprehensive compensation and benefits program, including performance-based cash incentives.
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 depend on factors such as the scope, complexity, and location of the role, as well as the candidate's skills, education, training, credentials, and experience. Employees are also eligible for performance-based cash incentives.
Responsibilities:
- Investigate, evaluate, reserve, negotiate, and resolve assigned complex claims in the life sciences industry, including medical products, clinical trial, pharmaceutical bodily injury, General Liability Coverage B, and E&O claims. - Provide quality claim handling throughout the claim life cycle, including customer contacts, coverage analysis, investigation, evaluation, reserving, litigation management, negotiation, and resolution. - Maintain compliance with internal and external quality standards and state-specific regulations. - Consult with Manager on the use of Claim Coverage Counsel when needed. - Directly investigate each claim through prompt and strategic contact with relevant parties such as policyholders, claimants, law enforcement agencies, witnesses, agents, medical providers, and technical experts. - Utilize evaluation documentation tools and diary management system to ensure timely handling of claims. - Establish and maintain proper indemnity and expense reserves. - Manage litigated claims and develop litigation plans with staff or panel counsel. - Attend legal proceedings, such as depositions, mediations, arbitrations, and trials, as needed. - Evaluate claims for recovery potential and handle recovery efforts or engage and direct Company resources for recovery. - Assist underwriting business partners in marketing and account contact efforts, as well as contract and policy reviews. - Attend and/or present at roundtables and authority discussions to collaborate on technical expertise and improve claim results. - Actively mentor and coach less experienced claim professionals to increase technical expertise and improve bench strength. - Provide guidance to underwriting business partners on loss reserves and recommend appropriate cases for discussion at roundtable. - Fulfill specific service commitments to certain accounts, as outlined in Special Account Communication (SAC) instructions and inquiries from agents and brokers. - Represent the company as a technical resource and attend legal proceedings as needed, acting within established professional guidelines and applicable state laws. - Share accountability with business partners to achieve and sustain quality results. - Research and evaluate current information on legal trends and communicate to other Company departments and divisions to assist in underwriting and management decisions. - Participate in periodic file quality reviews. - Obtain and maintain Insurance License(s) as required by state and Travelers requirements. - Perform other duties as assigned.
Qualifications:
- Law degree preferred. - 5-7 years of medical products and/or pharmaceutical litigation or claim handling experience. - Advanced knowledge in coverage, liability, and damages analysis, as well as a thorough understanding of the litigation process, relevant case and statutory law, and expert litigation management skills. - Extensive claim and/or legal experience and technical expertise to evaluate complex claims. - Able to make independent decisions on most assigned cases without involvement of supervisor. - Thorough understanding of business line products, policy language, exclusions, ISO forms, and effective claims handling practices. - Technical ability/working knowledge of virtual tools (Zoom, Skype, etc). - Openness to the ideas and expertise of others and actively solicits input and shares ideas. - Strong customer service, coaching, influence, and persuasion skills. - Strong written and verbal communication skills to understand, synthesize, interpret, and convey complex data and information to audiences with varying levels of expertise. - Strong technology aptitude and ability to use business technology tools effectively. - Attention to detail and accuracy.
Requirements:
- High school degree or GED required with a minimum of 4 years of bodily injury litigation claim handling or comparable claim litigation experience.
Benefits:
- Health insurance from the first day of employment for employees and eligible family members, including spouses, domestic partners, and children. - Retirement benefits, including a 401(k) with a match up to 5% of eligible pay and a 100% funded Pension Plan. - Paid time off, including a minimum of 20 days annually and nine paid company holidays. - Wellness program, mental health program, and volunteer encouragement program. - Inclusive Employee Resource Groups.
Join the Travelers team and discover a culture of innovation and collaboration. Love what you do and where you do it as the Business Torts Life Sciences Major Case Specialist.
