Travelers 2007 Annual Report Download - page 16

•Ocean Marine serves the marine transportation industry and related services, as well as
other businesses involved in international trade. The Company’s product offerings in this
unit 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 coverage based on the expertise and/or limit capacity of
Excess Casualty.
•Boiler & Machinery serves small to large companies, offering comprehensive breakdown
coverages for equipment, including property and business interruption coverages. Through
the BoilerRe unit, Boiler & Machinery also serves other property 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. companies with foreign property 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 customers’
unique insurance requirements.
•Northland provides insurance coverage for the commercial transportation industry, as well as
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 and engineers, equipment rental and golf
services.
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 is in
runoff; and the Company’s Personal Catastrophe Risk operation, which was sold in November 2005.
These are collectively referred to as Business Insurance Other. The Personal Catastrophe Risk
operation accounted for the majority of net written premiums in Business Insurance Other in 2005.
Certain business previously written by Gulf is now being written in the Specialized Distribution market
and in the Financial, Professional & International Insurance segment. Gulf provided specialty coverages
including management and professional liability, excess and surplus lines, environmental, umbrella and
fidelity. Gulf also provided insurance products specifically designed for financial institutions, the
entertainment industry and sports organizations.
4