Travelers 2003 Annual Report Download - page 106

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104
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
Net written premiums by market were as follows:
(for the year ended December 31, in millions) 2003 2002 2001
Core
National Accounts $ 902.8 $ 734.6 $ 418.9
Comme
r
cial Accounts 3,725.7 3,556.1 2,407.1
Select Accounts 2,047.6 1,869.5 1,713.2
Total Core 6
,
676.1 6
,
160.2 4
,
539.2
S
p
ecialt
y
Bond 780.5 629.9 590.2
Gulf 662.8 579.4 608.2
Total Specialty 1,443.3 1,209.3 1,198.4
Total net written
p
remiums $ 8,119.4 $ 7,369.5 $ 5,737.6
Personal Lines
Personal Lines writes virtually all types of property and casualty insurance covering personal risks. The primary
coverages in Personal Lines are automobile and homeowners insurance sold to individuals. These products are
distributed through independent agents, sponsoring organizations such as employee and affinity groups, and joint
marketing arrangements with other insurers.
Automobile policies provide coverage for liability to others for both bodily injury and property damage, and for
physical damage to an insured’s own vehicle from collision and various other perils. In addition, many states
require policies to provide first-party personal injury protection, frequently referred to as no-fault coverage.
Homeowners policies are available for dwellings, condominiums, mobile homes and rental property contents.
Protection against losses to dwellings and contents from a wide variety of perils is included in these policies, as
well as coverage for liability arising from ownership or occupancy.
Net written premiums by product line were as follows:
(for the year ended December 31, in millions) 2003 2002 2001
Automobile $ 3,053.3 $ 2,842.9 $ 2,590.7
Homeowners and other 2,028.1 1,732.1 1,517.2
Total net written premiums $ 5,081.4 $ 4,575.0 $ 4,107.9