Travelers 2007 Annual Report Download - page 15

•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, generally utilizing loss-sensitive products such as collateralized
deductibles or self-insured programs. 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 differentiated
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, umbrella, commercial auto, property and inland marine coverages, and
other risk management solutions.
•Technology serves small to large 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 and services 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 gathering platforms, 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 provides traditional and customized property insurance programs to large
and mid-sized customers, including office building owners, manufacturers, municipalities and
schools, retailers, and service businesses. These insurance programs cover losses on
buildings, business assets, personal property 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.
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