Travelers 2009 Annual Report Download - page 190

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
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 and commercial auto coverages, and other risk management
solutions.
•Technology serves small to large companies involved in telecommunications, information
technology, medical technology and electronics manufacturing, offering a 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 organizations 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 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 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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