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Crum & Forster Holdings. Gross Premium Written Mix Specialty vs. Standard. 2001 GPW: $827M. Jun YTD 2012 GPW: $776M. 2011 GPW: $1,327M. 2006 GPW: $1,353M. Specialty,18%. Standard,24%. Standard,25%. Specialty,44%. Standard,56%. Specialty,75%. Specialty,76%. Standard,82%.

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slide3

Gross Premium Written Mix

Specialty vs. Standard

2001

GPW: $827M

Jun YTD 2012

GPW: $776M

2011

GPW: $1,327M

2006

GPW: $1,353M

Specialty,18%

Standard,24%

Standard,25%

Specialty,44%

Standard,56%

Specialty,75%

Specialty,76%

Standard,82%

ted camp
Ted Camp

CoverXSpecialty

overview
Overview
  • We offer specialty commercial insurance products through 11 offices in the United States
  • The E&S casualty operations of Crum & Forster, Seneca, First Mercury and Valiant have been integrated into a $380+ million GPW business unit, referred to as CoverXSpecialty

2011 GPW: $386M

2011 gpw by top 10 states
2011 GPW by Top 10 States

1Top five classes in CA are security guards, roofing contractors, manufacturing, concrete/masonry/paving contractors and safety contractors

existing product lines
Existing Product Lines
  • Standard lines
    • Commercial Package/BOP
    • General Liability
    • Umbrella
  • Custom Property
    • E & S Property
    • Inland Marine
  • Surety
    • Bail Bonds
    • Contract & Commercial
steve fomchenko
Steve Fomchenko

Custom Property & Inland Marine

slide13

Product Lines

2011 GWP -$47.18 M

slide15

Inland Marine -Countrywide

Jack Moran - jmoran@senecainsurance.com

Northeast- Kathleen Alicks

Kalicks@senecainsurance.com

Western Region - Ken McClelland

Kmcclelland@senecainsurance.com

Central Region – David Hansen

Dhansen@senecainsurance.com

Midatlantic- Tom Diaczynsky

TDiaczynskysenecainsurance.com

Southeast- Joe Stanton

Jstanton@senecainsurance.com

growth opportunities
Growth Opportunities
  • Continue to offer participation on Primary/100% basis
  • Expand product capabilities to participate excess of a primary
  • Increase capacity on DIC Product to $10m
  • Expansion into the Western Region
product lines maps division
Product Lines - MAPS Division

Middle Market Accounts – Don Fischer, SVP

Management Liability

  • D&O/EPL/FID
  • Lawyers Professional
  • Miscellaneous E&O
  • Programs
    • Amerinst Accountants & Lawyers
    • Managed Insurance Services (MIS)
    • United Specialty Services (USS)

2011 GWP: $18.9M

Large Accounts –

Lori Marino, SVP

  • Management Liability
    • D&O/EPL/FID
    • Lawyers Professional
    • Accountants Professional
    • Miscellaneous E&O
    • Cyber/Technology Professional
    • Crime & Fidelity

2011 GWP: $15.3M

2011 TOTAL GWP: $34.2M

looking forward maps division
Looking Forward - MAPS Division
  • New head of Crime & Fidelity hired fall of 2012 to support growth potential
  • Cyber Liability resources in place for anticipated demand through 2013
  • Considering select opportunities within the A&E marketplace
  • Evaluating possibilities of geographic expansion into and through 2013
diana cossetti
Diana Cossetti

Umbrella/Excess

umbrella excess
Umbrella/Excess
  • Internal Goals attained and ongoing:
    • One set of policy forms - E&S
    • One set of guidelines – all
    • Unified file documentation/pricing model – all
    • Field authority - all
  • Looking Ahead:
    • Growth goals for both admitted and non-admitted
    • Expand our writings in our Targeted Segments area
    • Increase our physical presence in marketplace
chris pluchino
Chris Pluchino

Marine & Energy

overview1
Overview
  • Underwriting strategy
    • Focus on differentiating risks via an engineering informed underwriting process
    • Underwriting appetite reflects an expertise-based segment avoidance strategy
      • For example, in ocean marine – blue water hull not written owing to undervaluation of exposures/inadequate rates; in energy and production – drilling contractors avoided due to, among other things, high value of moveable assets (aggregation concerns)
    • Superior on-staff expertise via market leading underwriters, qualified risk engineers and claims professionals trained in maritime law
    • Typically focused on small to midsized clients, avoiding major corporations
    • Market entry for targeted classes via partnership strategy (MGU)
    • Look to maintain portfolio balance by keeping maximum policy limit offered within annual premium volume
overview cont
Overview (cont.)
  • Catastrophe management strategy
    • Line setting guidance in place based on specific account criteria such as client size, maximum loss potential and cat exposure
    • Maintain portfolio balance – per risk and portfolio / NAT CAT capacity
    • NAT CAT monitored by region / segment / occupancy, set against pre-determined loss thresholds
    • Platforms scored based on probability of failure in major wind event
    • Aggregate exposures measured, deterministically as the sum of all limits and coverages, captured using industry software; Exploration and Production: Open Xposure/Static Marine: Risk Browser/RMS
    • PMLs, storm tracks, Lloyds Realistic Disaster Scenario run nightly and/or as needed in real time
slide26

Second year of operation for C&F under the leadership of individuals with a combined 27 years marine and energy underwriting experience

Ocean Marine

Exploration & Production

2012 GPW: $9.3M

(Q1&2)

2012 GPW: $7.7M

(Q1&2)

mark brown
Mark Brown

Environmental Casualty

mark leblanc
Mark LeBlanc

Crisis Management

what do we do
What do we do?
  • recallPROTECT+
    • Consumable Products (food, cosmetics)
    • Consumer Goods & Products (hard goods, appliances, etc.)
    • Supplier & Component Parts (tech and auto)
  • restaurantPROTECT+
    • Restaurants Chains (fast food, chains, franchises)
  • Coverage:
    • First and third party recall costs (consumable, component)
    • First Party Business Interruption
    • Customer Loss of Profit
    • Brand Rehabilitation
    • Replacement Costs
    • Consultant Costs
growth opportunities1
Growth Opportunities
  • Restaurant Accounts: Solutions:
    • High per account premium Targeted Marketing
    • No diversity Spread the word
  • Consumables:
    • Competitive landscape Mind the gap: avoid pitfalls
    • Coverage Constantly evolving Flexible terms, know your competition
    • Mature market place There are good accounts, find them
    • Knowledgeable buyers There are good buyers, find them
    • Knowledgeable brokers Underwriter beware
  • Components:
    • Adverse Selection Determine the real need
    • Contract Requirements Is the coverage being used correctly?
    • Heavy severity, light frequency Know your exposure
    • Lonely landscape Know when to compete
  • Consumer
    • More frequency than severity Avoid chasing down attachments
    • Limited exposure Potential for balance
    • Limited need Manage Capacity