Compensation Advisory Organization of Michigan & Michigan Workers Compensation Placement Facility. Annual Report. Published: April 17, 2018

Transcription

1 2017 Compensation Advisory Organization of Michigan & Michigan Workers Compensation Placement Facility Annual Report Published: April 17, 2018

2 Table of Contents o Introduction Mission Statement Organizational Chart Governing Board Representatives Including Committee Designations o Company Operations CAOM Data Collection Risk Identification Proof of Coverage Experience Modification Promulgation Data Analysis Placement Facility Assigned Risk Specific Servicing Carrier Assignment Application Placement Underwriting Projects / Initiatives Industry Collaboration o Company Metrics Policy and Unit Statistical Reporting Processing Timeliness Reporting Fines Experience Rating Production Staffing Finances Assigned Risk Business o Michigan Work Comp Market Update Payroll and Premium History Market Share Top Class Codes Policy Size Distributions Experience Rating Distributions Aggregate Price Level History Class Code Rate Variations Profitability Trends o 2017 Circulars o Membership Listing

3 To View the full Annual Report online, please go to: About Us Annual Reports, or

4 CAOM / MWCPF INTRODUCTION

5 Introduction Mission Statement o The mission of the Compensation Advisory Organization of Michigan is to enhance the Michigan Workers' Compensation System through customer service, education and the administration of the Michigan Workers' Compensation Placement Facility. o The Compensation Advisory Organization of Michigan will perform its duties in an equitable, professional, and responsive manner when dealing with all participants in the system.

6 Introduction Organizational Chart President Senior VP & Chief Actuary Office Manager Senior VP of Operations Administration Actuarial Information Systems HR Data & Rating Services Customer & Policy Services Finance

7 Introduction Board and Committee Representation CAOM Governing Board Accident Fund Company Amerisure Mutual Auto-Owners Citizens Frankenmuth Mutual Harleysville Mutual Liberty Mutual The Traveler s Companies Zurich Committees Audit Committee Data Coordination Committee Operations Committee MWCPF Governing Board Blanchard Agency Citizens Farm Bureau Mutual Hastings Mutual Liberty Mutual The Traveler s Companies General Public Representative Insured Employer Representatives (2) Appeals Committee Claims Committee

8 CAOM / MWCPF COMPANY OPERATIONS

9 Company Operations About Us The Compensation Advisory Organization of Michigan (CAOM) is a private, not-for-profit association of insurance companies who are licensed to write workers compensation insurance in the state of Michigan. The organization was created in its current form on January 1, 1983 to collect, process and analyze workers compensation insurance data for member companies and state regulators. The CAOM has been the Designated Advisory Organization in Michigan for over three decades. This designation is maintained under a Memorandum of Understanding between The State of Michigan Data Collection Agency and the CAOM. Among its primary duties, the CAOM develops market information for its membership related to the proposed advisory pure premium s underlying the rates in the voluntary marketplace, and submits this information to the Data Collection Agency. It also promulgates policy experience modifications for member carriers under their respective filed Experience Rating Plan. The CAOM is continually looking to develop new products and services by leveraging technology that will provide value to its members, or by enhancing current offerings to increase efficiency or be more cost-effective solutions.

10 Company Operations About Us Con t The CAOM s sister organization is the Michigan Workers Compensation Placement Facility (MWCPF). The Facility is the market of last resort for employers who are statutorily required to have workers compensation insurance for their employees. It administers the process of employer policy assignment to the selected servicing carriers of the workers compensation assigned risk pool. The expenses for the MWCPF are shared proportionally among its members based on voluntary market share. The CAOM s revenues are derived solely from membership fees, quarterly member expense assessments, and revenue generated from certain products and services. No state money is used to fund the operations.

11 Company Operations CAOM Functions o Data Collection Some data elements associated with a work comp insurance transaction in the State of Michigan are required to be sent to CAOM. Policy Transactions - Data reporting required on initial risk (insured/employer), payroll and premium data submitted at policy issuance. Unit Statistical Report Transactions - Data reporting required six months after policy expiration that includes audited payroll and premium, as well as any indemnity and medical claim activity. Financial Call Submissions - Data reporting required annually to support aggregate pricing level analysis. o Risk Identification Insured (Employer) / Combinations / Mergers / Splits - Over time, businesses start-up, combine, merge, split, or re-emerge under a different scope of work. - CAOM maintains information related to employer s in Michigan, to identify and accurately process their policy, claim, and experience modification data. - As the composition of their business changes, CAOM reviews the plan rules and process their data accordingly.

12 Company Operations CAOM Functions Con t o Proof of Coverage State of Michigan employer documentation. In some industries, it is essential to be able to prove that the employer has work comp insurance in place. Partnering with the State of Michigan Workers Compensation Agency, the CAOM provides one avenue that allows the issuance of Proof of Coverage documentation. o Experience Modification Promulgation Plan manuals are maintained that document the rules-based experience rating process. Member carriers may use their own or elect to file to utilize the advisory experience rating plan parameters generated by CAOM for the voluntary and assigned-risk market. Certain products and services are available to members. - Online Experience Mod System (OEMS) Web application and/or data file transfer - MiMod Special experience modification request for prospective risks

13 Company Operations CAOM Functions Con t o Data Analytics Voluntary Pure Premiums / Assigned Risk Rates - Through the financial data reporting process (MIFDRA web application), the CAOM collects and aggregates market data for pricing level analysis. - For the Voluntary market, CAOM produces advisory pure premiums and associated rating values. - For the Assigned Risk market, CAOM produces market rates and associated rating values on the behalf of the Michigan Workers Compensation Placement Facility. Other Market Rating Values - Similarly, the aggregate market data allows for analysis supporting the development of other market rating plan parameters. - Experience rating plan Expected Loss Rates, D-Ratios, Weights, and Ballasts - Retrospective rating plan Excess loss pure premium factors for Loss and Loss & LAE combined.

14 Company Operations CAOM Functions Con t Market Data Access and Security Providing member carriers access to market information is useful in understanding the environment with regard to risk distributions and profitability. Ensuring that member data is secure and accessible to only a certain granularity threshold so that member and risk confidentiality is protected. Carrier Benchmarking Providing carriers access to see how their book of business shapes up against the market profile for various aspects of their exposures. Market share Size of risk distributions Profitability

15 Company Operations MWCPF Functions While the activities of CAOM also provide the basis of support for many MWCPF functions (related to risk identification, policy issuance, data collection, and experience mod promulgation), there are also functions specific to the Placement Facility. For services provided by CAOM, expenses are shared between the two organizations. Assigned Risk Specific o Servicing Carrier Bid and Selection Process The MWCPF administers the process to identify potential member carriers that meet statutory requirements eligible to be servicing carriers. Member carriers must meet certain quality and financial thresholds to be eligible and are reviewed by the MWCPF Governing Board for final selection based on criteria and cost scoring. o Insured/Employer Assignment Process The MWCPF staff administers the placement of risks to one of the designated servicing carriers. Maintains target proportions of servicing carrier premium agreed to in the bid process. Underwriting manuals are maintained that provide guidelines in the assignment process.

16 Projects / Initiatives o 2017 Completed New company website was released in March of Includes improved functionality and user administration enhancements. Created customer surveys that allow members to provide feedback on our suppport services and products & services initiatives. Updated special mod request web application (MiMod) in Nov of Search functionality, risk and experience period applicability, and user communication. o 2018 Planned Member Carrier Invoice Portal - Receive invoices and make payments electronically for product & service fees, membership, and expense share. Premium Change Transactions - Improve processing of premium-bearing endorsements on policy reporting. Data Delivery Assessment - Collect information and assess to find the most practical solution for storing data used in member products and services.

17 Industry Collaboration o CAOM is an active participant in the Workers Compensation Insurance Organizations (WCIO) Consists of 11 Independent state DCOs and the National Council on Compensation Insurance (NCCI) Principal goal is to simplify member carrier compliance across states while respecting State regulatory differences. o Some common WCIO members support two independent joint ventures American Cooperative Council on Compensation Technology (ACCCT) - Provides DCO flexibility in developing new products / services between two or more DCOs Compensation Data Exchange (CDX) - Member carrier portal for accessing production ready products / services produced through ACCCT o CAOM collaborates with NCCI to ensure consistency on countrywide issues Examples include: - Medical / Indemnity call data collection; - Excess loss factor actuarial methodology; and - Aggregate Loss Factor delivery (Table M replacement) o Workers Compensation Research Institute (WCRI) Non-profit organization dedicated to researching cost drivers in the Workers Compensation system

18 CAOM / MWCPF COMPANY METRICS

19 Company Operational Metrics

20 Company Operational Metrics

21 Company Operational Metrics

22 Company Operational Metrics

23 Company Operational Metrics

24 Company Operational Metrics - Facility Statewide Voluntary / Assigned Risk Split

25 Company Operational Metrics - Facility Assigned Risk Premium and Average Policy Size History

26 Company Operational Metrics - Facility Assigned Risk Processing Efficiency

27 Company Operational Metrics - Facility Operating Results

28 Company Operational Metrics CAOM / MWCPF Staffing and Finances

29 CAOM / MWCPF MICHIGAN WC MARKET UPDATE

30 Michigan Work Comp Market Update Payroll and Premium History

31 Michigan Work Comp Market Update Market Share Top Twenty Writers by Insurance Group By Standard Written Premium By Policy Count Rank Group Premium Share Rank Group Policy Share 1 ACCIDENT FUND 15.4% 1 ACCIDENT FUND 9.6% 2 TRAVELERS 4.5% 2 HARTFORD 9.3% 3 HARTFORD 3.7% 3 AUTO OWNERS 6.4% 4 AMERICAN HOME 3.1% 4 TRAVELERS 6.0% 5 AUTO OWNERS 3.1% 5 FARM BUREAU 4.6% 6 ZURICH 2.8% 6 HASTINGS 3.0% 7 AMERISURE 2.7% 7 FRANKENMUTH 3.0% 8 HASTINGS 2.3% 8 MICHIGAN INSURANCE COMPANY 2.5% 9 MICHIGAN INSURANCE COMPANY 2.2% 9 STATE FARM 2.2% 10 FRANKENMUTH 2.2% 10 HANOVER 2.0% 11 FARM BUREAU 1.9% 11 CINCINNATI 1.6% 12 LIBERTY MUTUAL 1.9% 12 EMPLOYERS 1.2% 13 BENCHMARK 1.5% 13 CONTINENTAL CASUALTY 1.2% 14 MANUFACTURING TECHNOLOGY 1.4% 14 LIBERTY MUTUAL 1.1% 15 ACUITY 1.3% 15 FREMONT 1.1% 16 HANOVER 1.3% 16 BROTHERHOOD MUTUAL 1.1% 17 CINCINNATI 1.2% 17 ACUITY 1.0% 18 EMPLOYERS 1.2% 18 FEDERAL 1.0% 19 FEDERAL 1.2% 19 MICHIGAN MILLERS 1.0% 20 OLD REPUBLIC 1.2% 20 BENCHMARK 0.8%

32 Michigan Work Comp Market Update Top Class Codes

33 Michigan Work Comp Market Update Policy Size Distributions

34 Michigan Work Comp Market Update Experience Rating Distributions Voluntary Market

35 Michigan Work Comp Market Update Experience Rating Distributions Assigned Risk Market

36 Michigan Work Comp Market Update Merit Mod Rating Distributions Voluntary & Assigned Risk Market

37 Michigan Work Comp Market Update Aggregate Price Level History Voluntary Market (CAOM) Assigned Risk Market (MWCPF)

38 Michigan WC Market Update Class Rate Quintiles o The following report shows the distribution of the Voluntary Market manual rate by quintile, or 20% increment ranges. o As Michigan is a competitively rated jurisdiction for workers compensation, carriers may elect to file class rates built in reference to the advisory pure premiums, or independently set their own class rates. o Report Criteria Top 100 Voluntary Individual Class Codes Policy Year 2017 data Maximum / Minimum Class Rate Distribution both by Payroll and Policy Count

39 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,084,628 2, Range Payroll % Policies % 33,691, ,398,918 7,986,237 5,000 3, , ,673,317 1, ,679, , , , ,006, ,258, ,424, ,632, ,577, ,113, ,064, ,388, ,708, ,072, , , ,535, ,135, ,702, , , ,

40 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,920, Range Payroll % Policies % 27,068,259 92,702,165 16,883,359 7,310,030 2,956, ,699, ,891, ,564, ,491, ,394, ,356, ,620, ,114, ,619, ,097, ,016, ,772, ,796, ,807, ,731, ,750, ,101, ,405, ,344, ,398, ,966, ,815, ,818, ,346,

41 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,431, Range Payroll % Policies % 26,700,398 78,070,343 43,652,718 12,859,622 20,148, ,049, ,593, ,254, ,481, , ,669, ,957, ,846, ,151, ,812, ,001, ,144, ,448, ,719, ,142, ,818, ,767, ,465, ,945, ,022, ,275, ,978, ,243,

42 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,197, Range Payroll % Policies % 268,235, ,439,480 41,214,449 22,434,828 2,873, ,387, ,514, ,292, ,026, ,437, ,116, ,466,813 1, ,336, ,418, ,961, ,718, ,031, ,673, ,574, ,876, , , ,423, ,976, ,640, ,367, , ,

43 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,847, Range Payroll % Policies % 87,129, ,861,264 16,022,498 1,220,849 2,613, ,466,121 1, ,782, ,801, ,916, ,700, ,263, ,395, ,715, ,544, ,961, ,183, ,989, ,950, ,004, ,094, ,626, , , ,682, ,259, ,529, ,321, ,227, ,

44 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,489, Range Payroll % Policies % 81,358, ,392,728 76,009,955 12,755,224 12,972, ,816, ,593, ,465, ,544, , ,368, ,963, ,276, ,988, ,248, , ,732, ,012, ,286, ,887, ,633, ,636, ,569, ,168,089, ,162, ,046, ,209, ,989, ,680,

45 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,476,829 1, Range Payroll % Policies % 851,567,843 88,163,525 16,001,903 10,737,048 6, , ,583, ,400, ,679, ,788, , , ,126, ,012, ,843, , , ,762,773 2, ,522, ,630, , ,203, ,401, , ,707,925 2, ,171, ,951, ,447, ,280, ,856,

46 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,348,803 1, Range Payroll % Policies % 365,388, ,700,090 73,941,734 33,750,133 8,568, ,752,615 1, ,565, ,782, ,757, ,702, ,944, ,871, ,784, ,908, ,253, ,229, ,696, ,015,899 2, ,456, ,725, ,581, ,250, ,002, ,533,945 1, ,461, ,986, ,197, ,701, ,187,

47 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,277, Range Payroll % Policies % 18,372,138 56,462,900 41,233,353 12,651,611 6,557, ,245,403 1, ,542, ,440, ,465, ,414, ,382, ,638,219 2, ,563, , ,203, ,722, ,340, ,808, ,089,426 3, ,752, ,535, , ,349, , , ,659,789 1, ,386, ,145, ,269, ,818, ,

48 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,100, Range Payroll % Policies % 30,716, ,667,371 40,589,423 3,068,135 1,058, ,071,856 1, ,994, ,906, ,085, ,399, ,685, ,491, ,774, ,505, ,848, ,835, ,527, ,521,302,171 8, , ,864, , ,794, , ,423, , ,640, , ,006, ,584, ,823, ,482, ,

49 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,063, Range Payroll % Policies % 719,384, ,000 62, ,651,765 1,851, ,368, ,182, ,500, ,378, ,878, , ,212, ,731, ,092, ,304, ,073, ,010, ,209, ,239, ,499, ,005, ,259, ,204, ,336,997 1, ,526, ,116, ,148, ,851, ,693,

50 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,163,512 1, Range Payroll % Policies % 338,933, ,023,820 58,351,452 28,684,298 8,170, ,118,456 3, ,831, ,420, ,727, , ,308, ,830, ,600, ,821, ,139, ,841, ,703, ,094, ,877,009,064 8, ,730, , ,870,386, , ,786, , ,980, , ,124, ,418,788 1, ,799, ,167, ,635, , ,615,

51 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,498, Range Payroll % Policies % 375,101, , ,242, ,496, ,374, , , , ,662, ,446, ,200, ,311, ,081, ,623, ,635, ,149, ,281, , , ,152, ,912, ,363, ,773, ,404, ,846, ,524,

52 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,064, Range Payroll % Policies % 99,783,316 27,321,994 6,761,747 4,937, , ,475, ,602, ,391, ,647, ,692, ,142, ,080,767 1, ,678, ,171, ,497, ,355, ,378, ,513, ,543, ,884, ,181, ,022, ,882, ,222, ,168, ,530, ,965, ,930, ,627,

53 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,435,098 1, Range Payroll % Policies % 137,442,684 87,156,100 27,786, , ,039,798 1, ,477, ,658, ,923, ,620, ,360, ,121,375,292 4, ,483, , ,630, , ,921, , ,333,627 1, ,972, ,275, ,473, ,611, ,364,831,246 2, ,356, ,286, , ,260, ,917, ,

54 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,219, Range Payroll % Policies % 51,477,275 63,727,593 30,683,454 18,474,687 5,856, ,510,665,835 26, ,429,911, , ,080,184, , , ,400, ,464, ,864, ,553, ,350, ,167, ,735, ,707, ,613, ,159, ,589, ,666, ,395,929,070 2, ,386,095, , ,702, ,130, ,

55 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,390,329,666 73, Range Payroll % Policies % 45,680,572, ,798,829 1,514, , ,528 4, ,305,350,329 2, ,227, , ,127, ,825, ,426, ,743, ,319, ,408, ,542, ,344, ,232, ,790, ,257,384 1, ,912, ,602, ,741, ,810, ,189, ,565,053,758 8, ,835,110, , ,588,605, , ,798, ,

56 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,086, Range Payroll % Policies % 544,930, ,891,183 83,586,609 28,427,848 14,250, ,628,067 1, ,063, ,765, ,923, , ,938, ,110,503,308 7, ,330,856, , ,453, , ,187, , ,244,225, ,696, ,688, ,323, ,059, ,457, ,953, ,689, ,505, , ,341, ,

57 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,648,256,981 13, Range Payroll % Policies % 671,777, ,653, ,724,543 57,091,105 10, ,967 6,432 2,245 1, ,226,137 1, ,864, ,565, ,370, ,422, ,003, ,352, ,031, ,581, ,597, ,141, ,366,695,621 11, ,678,622, , ,019,642, , ,330, , ,992, ,108, ,400,318 1, ,912, ,856, ,211, ,062, ,357,

58 Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate ,737,477 1, Range Payroll % Policies % 5,694,310 76,813,663 43,004,534 20,573, , ,731, ,491, ,918, ,498, ,009, ,812, ,624, ,599, ,023, ,474, ,162, , ,798, ,187, ,963, ,144, ,797, , ,439,279 1, ,913, ,157, ,146, ,116, ,106,

59 Michigan Work Comp Market Update Profitability Calendar Year Combined Ratio

60 Michigan Work Comp Market Update Profitability Policy Year Combined Ratio

61 Michigan Work Comp Market Update Trend Summary Unemployment

62 Michigan Work Comp Market Update Trend Summary Frequency

63 Michigan Work Comp Market Update Distribution of Ultimate Losses

64 Michigan Work Comp Market Update Trend Summary Indemnity Severity vs Wage Inflation

65 Michigan Work Comp Market Update Trend Summary Medical Severity vs Medical Price Inflation

66 CAOM / MWCPF 2017 CIRCULARS

67 2017 Circulars Released CAOM #290 CAOM - Board of Governors Announces President s Retirement January 16, 2017 #291 CAOM - Financial Calls for the State of Michigan January 31, 2017 #292 CAOM - New Website Release March 13, 2017 #293 CAOM - Annual Meeting with Proxy March 14, 2017 #294 CAOM - New CAOM/MWCPF President: D Brueckman May 3, 2017 #295 CAOM 2017 Reapportionment July 1, 2017 #296 CAOM - Data Collection Agency Workers' Compensation Insurance Statewide Average Pure Premium Michigan (Effective 1/1/2018) September 22, 2017 #297 CAOM Experience Ratings October 4, 2017 MWCPF #271 MWCPF - Annual Meeting with Proxy March 14, 2017 #272 MWCPF - Experience Rating Modification Factor Revision Endorsement WC April 26, 2017 #273 MWCPF 2017 Reapportionment July 1, 2017 #274 MWCPF - Experience Rating Modification Factor Revision Endorsement Update WC August 14, 2017 #275 MWCPF - ASSIGNED RISK RATES AND RATING VALUES FOR THE MICHIGAN WORKERS' COMPENSATION PLACEMENT FACILITY - EFFECTIVE 1/1/2018 October 9, 2017 #276 MWCPF - Experience Rating Modification Factor Endorsement WC October 18, 2017

68 CAOM / MWCPF MEMBERSHIP LISTING

69 Membership CAOM 21ST CENTURY CENTENNIAL INSURANCE COMPANY 21ST CENTURY SECURITY INSURANCE COMPANY ACADIA INSURANCE COMPANY ACCIDENT FUND GENERAL INSURANCE COMPANY ACCIDENT FUND INSURANCE COMPANY OF AMERICA ACCIDENT FUND NATIONAL INSURANCE COMPANY ACE AMERICAN INSURANCE COMPANY ACE FIRE UNDERWRITERS INS CO ACE PROPERTY & CASUALTY INS CO ACIG INSURANCE COMPANY ACUITY A MUTUAL INSURANCE COMPANY ADDISON INSURANCE CO ADVANTAGE WORKERS COMPENSATION INS CO AIG PROPERTY CASUALTY COMPANY AIU INSURANCE COMPANY ALL AMERICA INSURANCE COMPANY ALLIANZ GLOBAL RISKS US INSURANCE COMPANY ALLIED EASTERN INDEMNITY COMPANY ALLIED PROPERTY AND CASUALTY INSURANCE COMPANY ALLIED WORLD INSURANCE COMPANY ALLMERICA FINANCIAL ALLIANCE INSURANCE COMPANY ALLMERICA FINANCIAL BENEFIT INSURANCE COMPANY AMCO INSURANCE COMPANY AMERICAN ALTERNATIVE INSURANCE CORPORATION AMERICAN AUTOMOBILE INSURANCE COMPANY AMERICAN BUSINESS & PERSONAL INS MUTUAL AMERICAN CASUALTY COMPANY OF READING PA AMERICAN COMPENSATION INSURANCE COMPANY AMERICAN COUNTRY INSURANCE COMPANY AMERICAN ECONOMY INSURANCE COMPANY AMERICAN EUROPEAN INSURANCE COMPANY AMERICAN FAMILY HOME INSURANCE COMPANY AMERICAN FIRE AND CASUALTY COMPANY AMERICAN GUARANTEE AND LIABILITY INSURANCE CO AMERICAN HOME ASSURANCE COMPANY AMERICAN INSURANCE COMPANY AMERICAN INTERSTATE INSURANCE COMPANY AMERICAN MINING INSURANCE COMPANY AMERICAN MODERN HOME INSURANCE COMPANY AMERICAN SELECT INSURANCE COMPANY AMERICAN STATES INSURANCE COMPANY AMERICAN ZURICH INSURANCE COMPANY AMERISURE INSURANCE COMPANY AMERISURE MUTUAL INSURANCE COMPANY AMERISURE PARTNERS INSURANCE COMPANY AMERITRUST INSURANCE CORPORATION AMGUARD INSURANCE COMPANY AMTRUST INSURANCE COMPANY OF KANSAS ANSUR AMERICA INSURANCE COMPANY ARCH INDEMNITY INSURANCE COMPANY ARCH INSURANCE COMPANY ARGONAUT GREAT CENTRAL INSURANCE COMPANY ARGONAUT INSURANCE COMPANY ARGONAUT MIDWEST INSURANCE COMPANY ARROWOOD INDEMNITY COMPANY ASHMERE INSURANCE COMPANY

70 Membership CAOM ASSOCIATED INDEMNITY CORPORATION ATLANTA INTERNATIONAL INSURANCE COMPANY ATLANTIC SPECIALTY INSURANCE CO ATLANTIC STATES INSURANCE COMPANY AUTO OWNERS INSURANCE COMPANY AUTOMOBILE INSURANCE COMPANY OF HARTFORD CT AXIS INSURANCE COMPANY BADGER MUTUAL INSURANCE COMPANY BANKERS STANDARD INSURANCE COMPANY BEDIVERE INSURANCE COMPANY BENCHMARK INSURANCE COMPANY BERKLEY NATIONAL INSURANCE COMPANY BERKLEY REGIONAL INSURANCE COMPANY BERKSHIRE HATHAWAY DIRECT INSURANCE COMPANY BERKSHIRE HATHAWAY HOMESTATE INSURANCE COMPANY BITCO GENERAL INSURANCE CORPORATION BITCO NATIONAL INSURANCE COMPANY BLOOMINGTON COMPENSATION INSURANCE COMPANY BRICKSTREET MUTUAL INSURANCE COMPANY BROTHERHOOD MUTUAL INSURANCE COMPANY CAPITOL INDEMNITY CORPORATION CAROLINA CASUALTY INSURANCE COMPANY CASTLEPOINT NATIONAL INSURANCE COMPANY CENTRAL MUTUAL INSURANCE COMPANY CENTURY INDEMNITY COMPANY CHARTER OAK FIRE INSURANCE COMPANY CHEROKEE INSURANCE COMPANY CHUBB INDEMNITY INSURANCE COMPANY CHUBB NATIONAL INSURANCE COMPANY CHURCH MUTUAL INSURANCE COMPANY CINCINNATI CASUALTY COMPANY CINCINNATI INDEMNITY COMPANY CINCINNATI INSURANCE COMPANY CITIZENS INSURANCE COMPANY OF AMERICA CITIZENS INSURANCE COMPANY OF OHIO CITIZENS INSURANCE COMPANY OF THE MIDWEST COLONIAL AMERICAN CASUALTY AND SURETY COMPANY COMMERCE & INDUSTRY INSURANCE COMPANY COMMERCIAL CASUALTY INSURANCE COMPANY COMPWEST INSURANCE COMPANY CONIFER INSURANCE COMPANY CONSOLIDATED INSURANCE COMPANY CONTINENTAL CASUALTY COMPANY CONTINENTAL INDEMNITY COMPANY CONTINENTAL INSURANCE COMPANY CONTINENTAL WESTERN INSURANCE COMPANY COREPOINTE INSURANCE COMPANY CRUM & FORSTER INDEMNITY COMPANY DAKOTA TRUCK UNDERWRITERS DEPOSITORS INSURANCE COMPANY DIAMOND STATE INSURANCE COMPANY DISCOVER PROPERTY & CASUALTY INSURANCE CO DONEGAL MUTUAL INSURANCE COMPANY EASTERN ADVANTAGE ASSURANCE COMPANY EASTERN ALLIANCE INSURANCE COMPANY EASTGUARD INSURANCE COMPANY

71 Membership CAOM ELECTRIC INSURANCE COMPANY EMC PROPERTY & CASUALTY COMPANY EMCASCO INSURANCE COMPANY EMPLOYERS ASSURANCE COMPANY EMPLOYERS COMPENSATION INSURANCE COMPANY EMPLOYERS FIRE INSURANCE COMPANY EMPLOYERS INSURANCE COMPANY OF WAUSAU EMPLOYERS MUTUAL CASUALTY COMPANY EMPLOYERS PREFERRED INSURANCE COMPANY ENDURANCE ASSURANCE CORPORATION EVEREST DENALI INSURANCE COMPANY EVEREST NATIONAL INSURANCE CO EVEREST PREMIER INSURANCE COMPANY EXPLORER INSURANCE COMPANY FALLS LAKE NATIONAL INSURANCE COMPANY FARM BUREAU GENERAL INSURANCE COMPANY OF MICHIGAN FARM BUREAU MUTUAL INSURANCE COMPANY OF MICHIGAN FARMERS INSURANCE EXCHANGE FARMINGTON CASUALTY COMPANY FARMLAND MUTUAL INSURANCE COMPANY FCCI INSURANCE COMPANY FEDERAL INSURANCE COMPANY FEDERATED MUTUAL INSURANCE COMPANY FEDERATED RESERVE INSURANCE COMPANY FEDERATED RURAL ELECTRIC INSURANCE EXCHANGE FEDERATED SERVICE INSURANCE COMPANY FIDELITY & DEPOSIT COMPANY OF MARYLAND FIDELITY & GUARANTY INSURANCE COMPANY FIDELITY & GUARANTY INSURANCE UNDERWRITERS FIRE INSURANCE EXCHANGE FIREMANS FUND INSURANCE COMPANY FIREMENS INSURANCE COMPANY OF WASHINGTON, D.C. FIRST DAKOTA INDEMNITY COMPANY FIRST LIBERTY INSURANCE CORPORATION FIRST NATIONAL INSURANCE COMPANY OF AMERICA FLORISTS MUTUAL INSURANCE COMPANY FOREMOST INSURANCE COMPANY OF GRAND RAPIDS MICHIGAN FOREMOST PROPERTY AND CASUALTY INSURANCE COMPANY FOREMOST SIGNATURE INSURANCE COMPANY FRANK WINSTON CRUM INSURANCE INC FRANKENMUTH MUTUAL INSURANCE COMPANY FREEDOM SPECIALTY INSURANCE COMPANY FREMONT INSURANCE COMPANY GATEWAY INSURANCE COMPANY GENERAL CASUALTY COMPANY OF WISCONSIN GENERAL INSURANCE COMPANY OF AMERICA GENESIS INSURANCE COMPANY GRANGE INSURANCE COMPANY OF MICHIGAN GRANITE STATE INSURANCE COMPANY GRAY INSURANCE COMPANY GREAT AMERICAN ALLIANCE INSURANCE COMPANY GREAT AMERICAN ASSURANCE COMPANY GREAT AMERICAN INSURANCE CO OF NY GREAT AMERICAN INSURANCE COMPANY GREAT AMERICAN SECURITY INSURANCE COMPANY GREAT AMERICAN SPIRIT INSURANCE COMPANY

72 Membership CAOM GREAT DIVIDE INSURANCE COMPANY GREAT MIDWEST INSURANCE COMPANY GREAT NORTHERN INSURANCE COMPANY GREAT WEST CASUALTY COMPANY GREATER NEW YORK MUTUAL INSURANCE COMPANY GREENWICH INSURANCE COMPANY GUARANTEE INSURANCE COMPANY GUIDEONE MUTUAL INSURANCE COMPANY HAMILTON MUTUAL INSURANCE COMPANY HANOVER AMERICAN INSURANCE COMPANY HANOVER INSURANCE COMPANY HARCO NATIONAL INSURANCE COMPANY HARLEYSVILLE INSURANCE COMPANY HARLEYSVILLE LAKE STATES INSURANCE COMPANY HARLEYSVILLE PREFERRED COMPANY HARLEYSVILLE WORCESTER INSURANCE COMPANY HARTFORD ACCIDENT AND INDEMNITY COMPANY HARTFORD CASUALTY INSURANCE COMPANY HARTFORD FIRE INSURANCE COMPANY HARTFORD INSURANCE COMPANY OF ILLINOIS HARTFORD INSURANCE COMPANY OF THE MIDWEST HARTFORD INSURANCE COMPANY OF THE SOUTHEAST HARTFORD UNDERWRITERS INS CO HASTINGS MUTUAL INSURANCE COMPANY HDI GLOBAL INSURANCE COMPANY HIGHMARK CASUALTY INSURANCE COMPANY HOME OWNERS INSURANCE COMPANY ILLINOIS CASUALTY COMPANY ILLINOIS NATIONAL INSURANCE COMPANY IMPERIUM INSURANCE COMPANY INDEMNITY INSURANCE COMPANY OF NORTH AMERICA INDIANA INSURANCE COMPANY INDIANA LUMBERMENS MUTUAL INSURANCE COMPANY INSURANCE COMPANY OF GREATER NEW YORK INSURANCE COMPANY OF ILLINOIS INSURANCE COMPANY OF NORTH AMERICA INSURANCE COMPANY OF THE STATE OF PENNSYLVANIA INSURANCE COMPANY OF THE WEST INTREPID INSURANCE COMPANY LAMORAK INSURANCE COMPANY LIBERTY INSURANCE CORPORATION LIBERTY MUTUAL FIRE INSURANCE COMPANY LIBERTY MUTUAL INSURANCE COMPANY LM INSURANCE CORPORATION LUMBERMENS UNDERWRITING ALLIANCE MAG MUTUAL INSURANCE COMPANY MANUFACTURERS ALLIANCE INS CO MANUFACTURING TECHNOLOGY MUTUAL INSURANCE COMPANY MARKEL INSURANCE COMPANY MASSACHUSETTS BAY INSURANCE COMPANY MEMIC INDEMNITY COMPANY MERCHANTS MUTUAL INSURANCE COMPANY MERCHANTS PREFERRED INSURANCE COMPANY MERIDIAN SECURITY INSURANCE COMPANY MHA INSURANCE COMPANY MICHIGAN COMMERCIAL INSURANCE MUTUAL

73 Membership CAOM MICHIGAN INSURANCE COMPANY MICHIGAN MILLERS MUTUAL INSURANCE COMPANY MID CENTURY INSURANCE COMPANY MIDDLESEX INSURANCE COMPANY MIDVALE INDEMNITY COMPANY MIDWEST EMPLOYERS CASUALTY COMPANY MILFORD CASUALTY INSURANCE COMPANY MITSUI SUMITOMO INS CO OF AMERICA MITSUI SUMITOMO INSURANCE USA INC MONROE GUARANTY INSURANCE COMPANY MOTORISTS COMMERCIAL MUTUAL INSURANCE COMPANY MOTORISTS MUTUAL INSURANCE COMPANY MUNICH REINSURANCE AMERICA INC NATIONAL AMERICAN INSURANCE COMPANY NATIONAL CASUALTY COMPANY NATIONAL FIRE INSURANCE COMPANY OF HARTFORD NATIONAL GENERAL INSURANCE COMPANY NATIONAL INDEMNITY COMPANY NATIONAL INTERSTATE INSURANCE CO NATIONAL INTERSTATE INSURANCE COMPANY OF HAWAII INC NATIONAL LIABILITY AND FIRE INSURANCE COMPANY NATIONAL SPECIALTY INSURANCE COMPANY NATIONAL SURETY CORPORATION NATIONAL TRUST INSURANCE COMPANY NATIONAL UNION FIRE INS CO OF PITTSBURG NATIONWIDE AGRIBUSINESS INSURANCE COMPANY NATIONWIDE MUTUAL FIRE INSURANCE COMPANY NATIONWIDE MUTUAL INSURANCE COMPANY NATIONWIDE PROPERTY AND CASUALTY INSURANCE COMPANY NETHERLANDS INSURANCE COMPANY NEW HAMPSHIRE INSURANCE COMPANY NEW YORK MARINE & GENERAL INSURANCE COMPANY NGM INSURANCE COMPANY NORGUARD INSURANCE COMPANY NORTH AMERICAN ELITE INSURANCE COMPANY NORTH AMERICAN SPECIALTY INSURANCE COMPANY NORTH POINTE INSURANCE COMPANY NORTH RIVER INSURANCE COMPANY NORTHERN INSURANCE COMPANY OF NEW YORK NORTHSTONE INSURANCE COMPANY NOVA CASUALTY COMPANY NUTMEG INSURANCE COMPANY OAK RIVER INSURANCE COMPANY OBI AMERICA INSURANCE COMPANY OBI NATIONAL INSURANCE COMPANY OHIO CASUALTY INSURANCE COMPANY OHIO FARMERS INSURANCE COMPANY OHIO SECURITY INSURANCE COMPANY OLD REPUBLIC GENERAL INSURANCE CORPORATION OLD REPUBLIC INSURANCE COMPANY PACIFIC EMPLOYERS INSURANCE COMPANY PACIFIC INDEMNITY COMPANY PACIFIC INSURANCE COMPANY LIMITED PATRIOT GENERAL INSURANCE COMPANY PEERLESS INDEMNITY INSURANCE COMPANY PEERLESS INSURANCE COMPANY

74 Membership CAOM PENN AMERICA INSURANCE COMPANY PENN MILLERS INSURANCE CO PENNSYLVANIA LUMBERMENS MUTUAL INSURANCE CO PENNSYLVANIA MANUFACTURERS ASSOCIATION INSURANCE CO PENNSYLVANIA MANUFACTURERS INDEMNITY PENNSYLVANIA NATIONAL MUTUAL CASUALTY INSURANCE PETROLEUM CASUALTY COMPANY PHARMACISTS MUTUAL INSURANCE COMPANY PHOENIX INSURANCE COMPANY PINNACLEPOINT INSURANCE COMPANY PIONEER STATE MUTUAL INSURANCE COMPANY PLATTE RIVER INSURANCE COMPANY PLAZA INSURANCE COMPANY PRAETORIAN INSURANCE COMPANY PREFERRED PROFESSIONAL INSURANCE COMPANY PRESERVER INSURANCE COMPANY PROPERTY AND CASUALTY INSURANCE CO OF HARTFORD PROSELECT INSURANCE COMPANY PROTECTIVE INSURANCE COMPANY QBE INSURANCE CORPORATION REDWOOD FIRE AND CASUALTY INSURANCE COMPANY REGENT INSURANCE COMPANY REPUBLIC FRANKLIN INSURANCE COMPANY REPUBLIC INDEMNITY COMPANY OF AMERICA REPWEST INSURANCE COMPANY RETAILERS INSURANCE COMPANY RIVERPORT INSURANCE COMPANY RLI INSURANCE COMPANY ROCKWOOD CASUALTY INSURANCE COMPANY RURAL TRUST INSURANCE COMPANY SAFECO INSURANCE COMPANY OF AMERICA SAFETY FIRST INSURANCE COMPANY SAFETY NATIONAL CASUALTY CORPORATION SAGAMORE INSURANCE COMPANY SAMSUNG FIRE & MARINE INSURANCE CO LTD SEABRIGHT INSURANCE COMPANY SECURA INSURANCE A MUTUAL COMPANY SECURA SUPREME INSURANCE COMPANY SECURITY NATIONAL INSURANCE COMPANY SELECT INSURANCE COMPANY SELECTIVE INSURANCE CO OF AMERICA SELECTIVE INSURANCE COMPANY OF SOUTH CAROLINA SELECTIVE INSURANCE COMPANY OF THE SOUTHEAST SELECTIVE WAY INSURANCE COMPANY SENECA INSURANCE COMPANY INC SENTINEL INSURANCE COMPANY LTD SENTRY CASUALTY COMPANY SENTRY INSURANCE A MUTUAL COMPANY SENTRY SELECT INSURANCE COMPANY SEQUOIA INSURANCE COMPANY SFM MUTUAL INSURANCE COMPANY SOMPO AMERICA FIRE & MARINE INSURANCE COMPANY SOMPO AMERICA INSURANCE COMPANY SOUTHERN INSURANCE COMPANY SPARTA INSURANCE COMPANY ST PAUL FIRE & MARINE INSURANCE COMPANY

75 Membership CAOM ST PAUL GUARDIAN INSURANCE COMPANY ST PAUL MERCURY INSURANCE COMPANY ST PAUL PROTECTIVE INSURANCE COMPANY STANDARD FIRE INSURANCE COMPANY STAR INSURANCE COMPANY STARNET INSURANCE COMPANY STARR INDEMNITY & LIABILITY COMPANY STARR SPECIALTY INSURANCE COMPANY STARSTONE NATIONAL INSURANCE COMPANY STATE AUTO PROPERTY & CASUALTY INSURANCE COMPANY STATE AUTOMOBILE MUTUAL INSURANCE COMPANY STATE FARM FIRE AND CASUALTY COMPANY STATE NATIONAL INSURANCE COMPANY INC STONINGTON INSURANCE COMPANY STRATHMORE INSURANCE COMPANY SUMMITPOINT INSURANCE COMPANY SUSSEX INSURANCE COMPANY T.H.E. INSURANCE COMPANY TECHNOLOGY INSURANCE COMPANY TNUS INSURANCE COMPANY TOKIO MARINE AMERICA INSURANCE COMPANY TOWER INSURANCE COMPANY OF NEW YORK TOWER NATIONAL INSURANCE COMPANY TRANS PACIFIC INSURANCE COMPANY TRANSGUARD INSURANCE COMPANY OF AMERICA TRANSPORTATION INSURANCE COMPANY TRAVELERS CASUALTY & SURETY COMPANY TRAVELERS CASUALTY & SURETY COMPANY OF AMERICA TRAVELERS CASUALTY COMPANY TRAVELERS CASUALTY COMPANY OF CONNECTICUT TRAVELERS CASUALTY INS CO OF AMERICA TRAVELERS COMMERCIAL CASUALTY COMPANY TRAVELERS COMMERCIAL INSURANCE COMPANY TRAVELERS CONSTITUTION STATE INSURANCE COMPANY TRAVELERS INDEMNITY COMPANY TRAVELERS INDEMNITY COMPANY OF AMERICA TRAVELERS INDEMNITY COMPANY OF CONNECTICUT TRAVELERS INSURANCE COMPANY TRAVELERS PROPERTY CASUALTY CO OF AMERICA TRI STATE INSURANCE CO OF MN TRIANGLE INSURANCE COMPANY INC TRUCK INSURANCE EXCHANGE TRUMBULL INSURANCE COMPANY TWIN CITY FIRE INSURANCE COMPANY U S SPECIALTY INSURANCE COMPANY UNION INSURANCE COMPANY UNION INSURANCE COMPANY OF PROVIDENCE UNITED FIRE & CASUALTY COMPANY UNITED NATIONAL SPECIALTY INSURANCE COMPANY UNITED STATES FIDELITY AND GUARANTY COMPANY UNITED STATES FIRE INSURANCE COMPANY UNITED WISCONSIN INSURANCE COMPANY UNIVERSAL UNDERWRITERS INSURANCE COMPANY UTICA MUTUAL INSURANCE COMPANY VALLEY FORGE INSURANCE COMPANY VANLINER INSURANCE COMPANY

76 Membership CAOM VIGILANT INSURANCE COMPANY WAUSAU BUSINESS INSURANCE COMPANY WAUSAU UNDERWRITERS INSURANCE COMPANY WESCO INSURANCE COMPANY WEST AMERICAN INSURANCE COMPANY WEST BEND MUTUAL INSURANCE COMPANY WESTFIELD INSURANCE COMPANY WESTFIELD NATIONAL INSURANCE COMPANY WESTPORT INSURANCE CORPORATION WILLIAMSBURG NATIONAL INSURANCE COMPANY WORK FIRST CASUALTY COMPANY WRM AMERICA INDEMNITY COMPANY XL INSURANCE AMERICA INC XL SPECIALTY INSURANCE COMPANY ZENITH INSURANCE COMPANY ZURICH AMERICAN INSURANCE COMPANY ZURICH AMERICAN INSURANCE COMPANY OF ILLINOIS

77 Membership Placement Facility 21ST CENTURY CENTENNIAL INSURANCE COMPANY 21ST CENTURY SECURITY INSURANCE COMPANY ACADIA INSURANCE COMPANY ACCIDENT FUND GENERAL INSURANCE COMPANY ACCIDENT FUND INSURANCE COMPANY OF AMERICA ACCIDENT FUND NATIONAL INSURANCE COMPANY ACE AMERICAN INSURANCE COMPANY ACE FIRE UNDERWRITERS INS CO ACE PROPERTY & CASUALTY INS CO ACIG INSURANCE COMPANY ACUITY A MUTUAL INSURANCE COMPANY ADDISON INSURANCE CO ADVANTAGE WORKERS COMPENSATION INS CO AIG PROPERTY CASUALTY COMPANY AIU INSURANCE COMPANY ALEA NORTH AMERICA INSURANCE COMPANY ALL AMERICA INSURANCE COMPANY ALLIANZ GLOBAL RISKS US INSURANCE COMPANY ALLIED EASTERN INDEMNITY COMPANY ALLIED PROPERTY AND CASUALTY INSURANCE COMPANY ALLIED WORLD INSURANCE COMPANY ALLMERICA FINANCIAL ALLIANCE INSURANCE COMPANY ALLMERICA FINANCIAL BENEFIT INSURANCE COMPANY AMCO INSURANCE COMPANY AMERICAN ALTERNATIVE INSURANCE CORPORATION AMERICAN AUTOMOBILE INSURANCE COMPANY AMERICAN BUSINESS & PERSONAL INS MUTUAL AMERICAN CASUALTY COMPANY OF READING PA AMERICAN COMPENSATION INSURANCE COMPANY AMERICAN COUNTRY INSURANCE COMPANY AMERICAN ECONOMY INSURANCE COMPANY AMERICAN EUROPEAN INSURANCE COMPANY AMERICAN FAMILY HOME INSURANCE COMPANY AMERICAN FIRE AND CASUALTY COMPANY AMERICAN GUARANTEE AND LIABILITY INSURANCE CO AMERICAN HOME ASSURANCE COMPANY AMERICAN INSURANCE COMPANY AMERICAN INTERSTATE INSURANCE COMPANY AMERICAN MINING INSURANCE COMPANY AMERICAN MODERN HOME INSURANCE COMPANY AMERICAN SELECT INSURANCE COMPANY AMERICAN STATES INSURANCE COMPANY AMERICAN ZURICH INSURANCE COMPANY AMERISURE INSURANCE COMPANY AMERISURE MUTUAL INSURANCE COMPANY AMERISURE PARTNERS INSURANCE COMPANY AMERITRUST INSURANCE CORPORATION AMGUARD INSURANCE COMPANY AMTRUST INSURANCE COMPANY OF KANSAS ANSUR AMERICA INSURANCE COMPANY ARCH INDEMNITY INSURANCE COMPANY ARCH INSURANCE COMPANY ARGONAUT GREAT CENTRAL INSURANCE COMPANY ARGONAUT INSURANCE COMPANY ARGONAUT MIDWEST INSURANCE COMPANY ARROWOOD INDEMNITY COMPANY

78 Membership Placement Facility ASHMERE INSURANCE COMPANY ASSOCIATED INDEMNITY CORPORATION ATLANTA INTERNATIONAL INSURANCE COMPANY ATLANTIC SPECIALTY INSURANCE CO ATLANTIC STATES INSURANCE COMPANY AUTO OWNERS INSURANCE COMPANY AUTOMOBILE INSURANCE COMPANY OF HARTFORD CT AXIS INSURANCE COMPANY BADGER MUTUAL INSURANCE COMPANY BANKERS STANDARD INSURANCE COMPANY BEDIVERE INSURANCE COMPANY BENCHMARK INSURANCE COMPANY BERKLEY NATIONAL INSURANCE COMPANY BERKLEY REGIONAL INSURANCE COMPANY BERKSHIRE HATHAWAY DIRECT INSURANCE COMPANY BERKSHIRE HATHAWAY HOMESTATE INSURANCE COMPANY BITCO GENERAL INSURANCE CORPORATION BITCO NATIONAL INSURANCE COMPANY BLOOMINGTON COMPENSATION INSURANCE COMPANY BRICKSTREET MUTUAL INSURANCE COMPANY BROTHERHOOD MUTUAL INSURANCE COMPANY CAPITOL INDEMNITY CORPORATION CAROLINA CASUALTY INSURANCE COMPANY CASTLEPOINT NATIONAL INSURANCE COMPANY CENTRAL MUTUAL INSURANCE COMPANY CENTURY INDEMNITY COMPANY CHARTER OAK FIRE INSURANCE COMPANY CHEROKEE INSURANCE COMPANY CHUBB INDEMNITY INSURANCE COMPANY CHUBB NATIONAL INSURANCE COMPANY CHURCH MUTUAL INSURANCE COMPANY CINCINNATI CASUALTY COMPANY CINCINNATI INDEMNITY COMPANY CINCINNATI INSURANCE COMPANY CITIZENS INSURANCE COMPANY OF AMERICA CITIZENS INSURANCE COMPANY OF OHIO CITIZENS INSURANCE COMPANY OF THE MIDWEST COLONIAL AMERICAN CASUALTY AND SURETY COMPANY COMMERCE & INDUSTRY INSURANCE COMPANY COMMERCIAL CASUALTY INSURANCE COMPANY COMPWEST INSURANCE COMPANY CONIFER INSURANCE COMPANY CONSOLIDATED INSURANCE COMPANY CONTINENTAL CASUALTY COMPANY CONTINENTAL INDEMNITY COMPANY CONTINENTAL INSURANCE COMPANY CONTINENTAL WESTERN INSURANCE COMPANY COREPOINTE INSURANCE COMPANY CRUM & FORSTER INDEMNITY COMPANY DAKOTA TRUCK UNDERWRITERS DEPOSITORS INSURANCE COMPANY DIAMOND STATE INSURANCE COMPANY DISCOVER PROPERTY & CASUALTY INSURANCE CO DONEGAL MUTUAL INSURANCE COMPANY EASTERN ADVANTAGE ASSURANCE COMPANY EASTERN ALLIANCE INSURANCE COMPANY

79 Membership Placement Facility EASTGUARD INSURANCE COMPANY ELECTRIC INSURANCE COMPANY EMC PROPERTY & CASUALTY COMPANY EMCASCO INSURANCE COMPANY EMPLOYERS ASSURANCE COMPANY EMPLOYERS COMPENSATION INSURANCE COMPANY EMPLOYERS FIRE INSURANCE COMPANY EMPLOYERS INSURANCE COMPANY OF WAUSAU EMPLOYERS MUTUAL CASUALTY COMPANY EMPLOYERS PREFERRED INSURANCE COMPANY ENDURANCE ASSURANCE CORPORATION EVEREST DENALI INSURANCE COMPANY EVEREST NATIONAL INSURANCE CO EVEREST PREMIER INSURANCE COMPANY EVERGREEN NATIONAL INDEMNITY COMPANY EXPLORER INSURANCE COMPANY FALLS LAKE NATIONAL INSURANCE COMPANY FARM BUREAU GENERAL INSURANCE COMPANY OF MICHIGAN FARM BUREAU MUTUAL INSURANCE COMPANY OF MICHIGAN FARMERS INSURANCE EXCHANGE FARMINGTON CASUALTY COMPANY FARMLAND MUTUAL INSURANCE COMPANY FCCI INSURANCE COMPANY FEDERAL INSURANCE COMPANY FEDERATED MUTUAL INSURANCE COMPANY FEDERATED RESERVE INSURANCE COMPANY FEDERATED RURAL ELECTRIC INSURANCE EXCHANGE FEDERATED SERVICE INSURANCE COMPANY FIDELITY & DEPOSIT COMPANY OF MARYLAND FIDELITY & GUARANTY INSURANCE COMPANY FIDELITY & GUARANTY INSURANCE UNDERWRITERS FIRE INSURANCE EXCHANGE FIREMANS FUND INSURANCE COMPANY FIREMENS INSURANCE COMPANY OF WASHINGTON, D.C. FIRST DAKOTA INDEMNITY COMPANY FIRST LIBERTY INSURANCE CORPORATION FIRST NATIONAL INSURANCE COMPANY OF AMERICA FLORISTS MUTUAL INSURANCE COMPANY FOREMOST INSURANCE COMPANY OF GRAND RAPIDS MICHIGAN FOREMOST PROPERTY AND CASUALTY INSURANCE COMPANY FOREMOST SIGNATURE INSURANCE COMPANY FRANK WINSTON CRUM INSURANCE INC FRANKENMUTH MUTUAL INSURANCE COMPANY FREEDOM SPECIALTY INSURANCE COMPANY FREMONT INSURANCE COMPANY GATEWAY INSURANCE COMPANY GENERAL CASUALTY COMPANY OF WISCONSIN GENERAL INSURANCE COMPANY OF AMERICA GENESIS INSURANCE COMPANY GRANGE INSURANCE COMPANY OF MICHIGAN GRANITE STATE INSURANCE COMPANY GRAY INSURANCE COMPANY GREAT AMERICAN ALLIANCE INSURANCE COMPANY GREAT AMERICAN ASSURANCE COMPANY GREAT AMERICAN INSURANCE CO OF NY GREAT AMERICAN INSURANCE COMPANY