AVP, Complex Claim Liability Specialist-Business Torts Life Sciences Position Available In Kennebec, Maine

AVP, Complex Claim Liability Specialist-Business Torts Life Sciences at Travelers Insurance Company in Augusta, Maine, United States Job Description 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? Investigate, evaluate, reserve, negotiate and resolve the company’s most severe and/or 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, in multiple jurisdictions, in accordance with Best Practices. Provide quality claim handling and superior customer service on assigned claims, while engaging in indemnity & expense management. Promptly manage claims by completing essential functions including contacts, investigation, damages development, evaluation, reserving, litigation management, negotiating and resolution. 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. 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. + 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. + Actively engage in the identification, selection and direction of appropriate internal and./or external resources for specific activities required to effectively evaluate claims, such as Subro, Risk Control, nurse consultants, the Travelers Lab, Claim Legal, and fire or fraud investigators and other experts. + Verify the nature and extent of injury or property damage by obtaining and reviewing appropriate records and damages documentation. + Utilize diary management system to ensure that all claims are handled timely. + At required time intervals, evaluate liability & damages exposure. + Establish and maintain proper indemnity & expense reserves. + Share experience and deep knowledge of creative resolution techniques to improve the claim results of others. + Apply the Company’s claim quality management protocols, Best Practices and metrics to all claims; document the rationale for any departure from applicable protocols and metrics. + Develop and employ creative resolution strategies. + Effectively and efficiently manage both allocated and unallocated loss adjustment expenses + Evaluate all claims for recovery potential; directly handle recovery efforts and/or engage and direct Company resources for recovery efforts. + Responsible for prompt and proper disposition of all claims within delegated authority. Negotiate disposition of claims with insureds and claimants or their legal representatives. + Ensure that the right resources are being applied to each claim to achieve the best result at the most optimal cost. +

LEADERSHIP:

+ Actively provide mentoring and coaching to less experienced claim professionals to increase the technical expertise and improve bench strength. +

COMMUNICATION/INFLUENCE:

+ Consult with Manager on use of Claim Coverage Counsel as needed. + Provide guidance to underwriting business partners with respect to the accuracy and adequacy of, and potential future changes to, loss reserves on assigned claims. + Recommend appropriate cases for discussion at roundtable. + Attend and or present at roundtables/authority discussions for collaboration of technical expertise resulting in improved payout on indemnity and expense. + Update appropriate parties as needed, providing new facts as they become available, and their impact upon the liability analysis and settlement options. + Represent the company as a technical resource, attend legal proceedings as needed, act within established professional guidelines as well as applicable state laws + Obtain and evaluate current information regarding trends in the law; digest and communicate this information to other Company departments and divisions to assist in underwriting and management decisions. + Assist underwriting business partners in marketing efforts and account stewardship. + Conduct contract reviews to assist in underwriting of E&O exposures. + Conduct reviews of other carriers’ Medical Products policies on Life Sciences accounts where Travelers is not writing the products coverage. + Assist if development of Life Sciences coverage forms and endorsements and conduct coverage training for underwriters. + OTHER

ACCOUNTABILITIES

+ Apply expert litigation management through the selection of counsel, evaluation and direction of claim and litigation strategy. + 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 our customers. + Track and control legal expenses to assure cost-effective resolution. + Develop and employ innovative techniques to manage expense and outcome when independent counsel is engaged. + Attend depositions, mediations, arbitrations, pre-trials, trials and all other legal proceedings, as needed. + Closely monitor independent counsel to ensure quality product. + Actively participate in periodic file quality reviews. + Appropriately deal with information that is considered personal and confidential. + Fulfill specific service commitments made to certain accounts, as outlined in Special Account Communication (SAC) instructions, and inquiries from agents and brokers. + Perform other duties as assigned. What Will Our Ideal Candidate Have? + Law degree preferred. + 5-7 years medical products and/or pharmaceutical litigation or claim handling experience. + Advanced level knowledge in coverage, liability and damages analysis and has a thorough understanding of the litigation process, relevant case and statutory law and expert litigation management skills. + Position requires a proficiency in oral and written communications. + Advanced communications skills are required to understand, interpret and convey highly technical information in simple terms to others. + Thorough understanding of product lines, objectives of claim management, and legal theory issues involving claim resolution. Familiarity with commercial li