Travelers 2006 Annual Report Download - page 178

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
166
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
•Technology serves small to mid-sized companies involved in telecommunications, information
technology, medical technology and electronics manufacturing, offering a well-balanced
comprehensive portfolio of 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 business units serve commercial businesses requiring
specialized product underwriting, claims handling andrisk managementservices:
•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 Marineprovides 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.
•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 businesses to Fortune 100 companies,
offering comprehensive breakdown coverages for equipment, including property and business
interruption coverages. Through the BoilerRe unit, Boiler & Machinery also serves other