Travelers 2006 Annual Report Download - page 256

244
Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
Not Applicable.
Item 9A. CONTROLS ANDPROCEDURES
The Company maintains disclosure controls and procedures (as that term is defined in
Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (Exchange Act))
that are designed to ensure that information required to be disclosed in the Company’s reports under the
Exchange Act is recorded,processed, summarized and reported within the time periods specified in the
Securities and Exchange Commission’s rules and forms,and that such information is accumulated and
communicated to the Company’s management, including its Chief Executive Officer and Chief Financial
Officer, as appropriate, to allow timely decisions regarding required disclosures. Any controls and
procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving
the desired control objectives. The Company’s management, with the participation of the Company’s Chief
Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the design and operation
of the Company’s disclosure controls and procedures as of December31, 2006. Based upon that evaluation
and subject to the foregoing, the Company’s Chief Executive Officer and ChiefFinancial Officer
concluded that the design and operation of the Company’s disclosure controls and procedures provided
reasonable assurance that the disclosure controls andprocedures are effective to accomplish their
objectives.
In addition, except as described above, there was no change in the Company’s internal control over
financial reporting (as that term is definedin Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that
occurred during the quarter ended December 31, 2006 that has materially affected, or is reasonably likely
to materially affect, the Company’s internal control over financial reporting.