Travelers 2006 Annual Report Download - page 15

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are now included in the Industry-Focused Underwriting, Target Risk Underwriting or Specialized
Distribution groups.
•National Accounts comprises three business units. The largest provides casualty products and
services to large companies, with particular emphasis on workers’ compensation, general liability
and automobile liability. National Accounts also includes Discover Re, which provides property and
casualty insurance products on an unbundled basis using third-party administrators for insureds
who utilize programs such as collateralized deductibles, captive reinsurers and self-insurance. In
addition, National Accounts includes the commercial residual market business, which primarily
offers workers’ compensation products and services to the involuntary market.
•Industry-Focused Underwriting. The following units serve targeted industries with unique
combinations of insurance coverage, risk management, claims handling and other services:
•Construction serves a broad range of construction businesses, offering guaranteed cost products
for small to mid-sized policyholders and loss sensitive programs for larger accounts. For the
larger accounts, the customer and the Company work together in actively managing and
controlling exposure and claims and they share risk through policy features such as deductibles
or retrospective rating. Products offered include workers’ compensation, general liability and
commercial auto coverages, and other risk management solutions.
•Technology serves companies of all sizes involved in telecommunications, information
technology, medical technology and electronics manufacturing, offering a well-balanced
comprehensive portfolioof products and services. These products include property,
commercial auto, general liability, workers’ compensation, umbrella, internet liability,
technology errors and omissions coverages and global companion products.
•Public Sector Services markets insurance products andservices to public entities including
municipalities, counties, Indian Nation gaming and selected special government districts such
as water and sewer utilities. The policies written by this unit typically cover property,
commercial auto, general liability and errors and omissions exposures.
•Oil & Gas provides specialized property and liability products and services for customers
involved in the exploration and production of oil and natural gas, including operators and
drilling contractors, as well as various service and supply companies and manufacturers that
support upstream operations. The policies written by this business group insure drilling rigs,
natural gas facilities, and production and gatheringplatforms, and cover risks including
physical damage, liability and business interruption.
•Agribusiness serves small to medium-sized agricultural businesses, including farms, ranches,
wineries and related operations, offering property and liability coverages other than workers’
compensation.
•Target Risk Underwriting. The following units serve commercial businesses requiring specialized
product underwriting, claims handling and risk management services:
•National Property serves large andmid-sized customers, including retailers, hospitals, colleges
and universities, and owners of industrial parks, office buildings, apartments and amusement
parks, covering losses on buildings, business assets and business interruption exposures.
•Inland Marine provides insurance for goods in transit and movable objects for customers such
as jewelers, museums, contractors and the transportation industry. Builders’ risk insurance is
also offered to customers during the construction, renovation or repair of buildings and other
structures.