Travelers 2013 Annual Report Download - page 48

free of charge on its website or provides a link on its website to the Company’s Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and any amendments
to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of
1934, as soon as reasonably practicable after those reports are electronically filed with, or furnished to,
the SEC. To access these filings, go to the Company’s website, then click on ‘‘SEC Filings’’ under the
‘‘For Investors’’ heading.
From time to time, the Company may use its website and/or social media outlets, such as Facebook
and Twitter, as distribution channels of material company information. Financial and other important
information regarding the Company is routinely posted on and accessible through the Company’s
website at http://investor.travelers.com, its Facebook page at http://www.facebook.com/travelers and its
Twitter account (@TRV_Insurance) at http://www.twitter.com/TRV_Insurance. In addition, you may
automatically receive email alerts and other information about the Company when you enroll your
email address by visiting the ‘‘Email Alert Service’’ section at http://investor.travelers.com.
Glossary of Selected Insurance Terms
Accident year .............. The annual calendar accounting period in which loss events
occurred, regardless of when the losses are actually reported,
booked or paid.
Adjusted unassigned surplus . . . Unassigned surplus as of the most recent statutory annual report
reduced by twenty-five percent of that year’s unrealized
appreciation in value or revaluation of assets or unrealized profits
on investments, as defined in that report.
Admitted insurer ........... A company licensed to transact insurance business within a state.
Agent ................... A licensed individual who sells and services insurance policies,
receiving a commission from the insurer for selling the business and
a fee for servicing it. An independent agent represents multiple
insurance companies and searches the market for the best product
for its client.
Annuity .................. A contract that pays a periodic benefit over the remaining life of a
person (the annuitant), the lives of two or more persons or for a
specified period of time.
Assigned risk pools .......... Reinsurance pools which cover risks for those unable to purchase
insurance in the voluntary market. Possible reasons for this inability
include the risk being too great or the profit being too small under
the required insurance rate structure. The costs of the risks
associated with these pools are charged back to insurance carriers
in proportion to their direct writings.
Assumed reinsurance ........ Insurance risks acquired from a ceding company.
Average value analysis ....... A conventional actuarial method used to estimate ultimate losses
for a given cohort of claims such as an accident year/product line
component. If the paid-to-date losses are then subtracted from the
estimated ultimate losses, the result is an indication of the unpaid
losses.
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