Travelers 2003 Annual Report Download - page 27

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25
Travelers residual market business sells claims and policy management services to workers’ compensation and
automobile assigned risk plans and to self-insurance pools throughout the United States. Travelers services
approximately 35% of the total workers’ compensation assigned risk market. Travelers is one of only two servicing
carriers that operate nationally. Assigned risk plan contracts generated approximately $197.3 million in service fee
income in 2003.
Commercial Accounts sells a broad range of property and casualty insurance products through a large network of
independent agents and brokers. Commercial Accounts’ casualty products primarily target mid-sized businesses with
75 to 1,000 employees, while its property products target large, mid-sized and small businesses. Travelers offers a full
line of products to its Commercial Accounts customers with an emphasis on guaranteed cost programs.
A key objective of Commercial Accounts is continued focus on first party product lines of business, which cover risks
of loss to property of the insured. Beyond the traditional middle market network, dedicated units exist to complement
the middle market or specifically respond to the unique or unusual business client insurance needs. These units are:
• Construction - dedicated claim, engineering and underwriting expertise solely targeting construction risks;
• National property - underwrites large property schedules insuring buildings, property and business interruption
exposures;
• Transportation - auto products tailored to the trucking industry distributed via general agents;
• Boiler and machinery - comprehensive breakdown coverages for equipment;
• Marine - inland and ocean coverages for mid-sized to large accounts;
• Agribusiness - insurance programs for small to mid-sized farmowners, ranchowners and commercial growers;
• Specialty excess and surplus - products sold through general agents targeting small commercial risks; and
• Affinity - programs sold to association, franchise, trade or affinity groups.
Select Accounts is one of the leading providers of property casualty products to small businesses. It generally serves
firms with one to 75 employees. Products offered by Select Accounts are guaranteed cost policies, often a packaged
product covering property and liability exposures. Products are sold through independent agents, who are often the
same agents that sell Travelers Commercial Accounts and Personal Lines products.