Travelers 2006 Annual Report Download - page 16

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•Ocean Marine serves the marine transportation industry and related services, as well as other
businesses involved in international trade. The Company’s product offerings fall under six main
coverage categories: marine liability, cargo, hull and machinery, protection and indemnity,
pleasure craft, and marine property and liability.
•Excess Casualty serves small to mid-sized commercial businesses, offering mono-line umbrella
and excess coverage where the Company does not write the primary casualty coverage, or
where other business units within the Company prefer to outsource the underwriting of
umbrella and excess business based on the expertise and/or limit capacity of Excess Casualty.
•Boiler & Machineryserves customers ranging from small commercial firms to Fortune 100
companies, offering comprehensive breakdown coveragesfor equipment, including property
and business interruption coverages. Through the BoilerRe unit, Boiler & Machinery also
serves otherproperty casualty carriers that do not have in-house expertise with reinsurance,
underwriting, engineering, claim handling and risk management services for this type of
coverage.
•Global Accounts provides insurance to U.S. companieswith foreignproperty and liability
exposures (“home-foreign”), and foreign organizations with property and liability exposures
located in the United States (“reverse-flow”), as part of a global program.
•Specialized Distribution.The following units market and underwrite their products to customers
predominantly through licensed wholesale, general and program agents that manage
•Northland provides insurance coverage forthe commercial transportation industry, and
commercial liability and package policies for small, difficult to place specialty classes of
commercial business on an admitted or excess and surplus lines basis.
•National Programs offers tailored property and casualty programs on an admitted basis for
customers with common risk characteristics or coverage requirements. Programs available
include those for entertainment, architects andengineers, equipment rental and golf services.
•Underwriting Facilitiesserves small commercial businesses, offering general liability, property
and commercial auto physical damage coverages on an admitted or excess andsurplus lines
basis.
Business Insurance also includes the Special Liability Group (which manages the Company’s asbestos
and environmental liabilities); the assumed reinsurance, health care, and certain international and other
runoff operations; policies written by the Company’s Gulf operation (Gulf), which was placedinto runoff
during the second quarter of 2004; and the Company’s Personal Catastrophe Risk operation, which was
sold in November 2005. The Personal Catastrophe Risk operation had been included in theSpecialty
segment prior to the August 2006 segment realignment. These are collectively referred to as Business
Insurance Other. The Personal Catastrophe Risk operation accounted for the majority of net written
premiums in this category in 2005. In2004, Gulf and the Personal Catastrophe Risk operation accounted
for the majority of written premiums in this category.
customers’ unique insurance requirements.