Travelers 2005 Annual Report Download - page 16

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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 underwriting units exist to complement the
middle market or specifically respond to the unique or unusual business client insurance needs. These
units are as follows:
•National Property provides insurance coverage for large commercial property schedules and mid-
sized risks covering losses onbuildings, business assets and business interruption exposures.
•Transportation provides auto liability, damage coverage, cargo and general liability coverages to the
trucking industry. Products have been developed for Non-fleet (generally 1-10 units) and Fleet
(11+ units) customers and are distributed through general agents.
•Boiler and Machinery provides comprehensive breakdown coverages for equipment including
property and business interruption coverages. Through the BoilerRe unit, Boiler and Machinery
also provides reinsurance, underwriting, engineering, claim handlingand risk management services
to other property casualty carriers that do not have in-house expertise.
•Inland Marine provides insurance which generally covers articles that may be transported from one
place to another, goods in transit (other than transoceanic) and movable objects. Coverages include
builder’s risk, contractor’s equipment, fine arts, jewelers, motor truck cargo and transportation
risks.
•Agribusiness offers property and liability coverages other than workers’ compensation for farms,
ranches and larger commercial growers of agricultural products.
•Excess and Surplus coverages are written on a non-admitted basis through established wholesalers.
Coverages typically underwritten include commercial auto and general liability.
•National Programs offers tailored insurance products to commercial insureds with similar risk
characteristics, underwritten on a program basis. Programs are typically marketed through a single
distribution channel. The targeted industries include entertainment,leisure, service, retail and
sports.
Select Accounts is a leading provider of property casualty products to small businesses. It serves firms
with generally fewer than 50 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 and brokers, who are often the same agents and brokers that sell the Company’s Commercial
Accounts, Specialty and Personal products. In addition to the traditional small commercial agency
network, Select Accounts has a dedicated servicing unit that serves unique customer needs, including small
national programs, architects and engineers, and emerging distribution markets.
Select Accounts offers its independent agents a system for small businesses that helps them connect
all aspects of sales and service through a comprehensive service platform. Components of the platform
include agency automation capabilities and service centers that function as an extension of an agency’s
customer service operations, both of which are highly utilized by agencies. More than86% of Select
Accounts’ eligible business volume is processed by agencies using its automated issuance systems, which
allow agents to quote and issue policies from agency offices. Approximately 4,600 agencies have chosen to
take advantage of Select Accounts’ service centers, which offer agencies a wide range of services, including
coverage and billinginquiries, policy changes, the assistance of licensed service professionals and extended
hours of operations.
National Accounts sells a variety of casualty products and services to large companies. National
Accounts clients generally select loss-sensitive products in connection with a large deductible or self-