2014 ANNUAL REPORT
P.O. Box 3337 Livonia, MI 48151-3337 (734) 462-9600 Fax (734) 462-9721 Internet WEB Site: www.caom.com E-Mail: caom@caom.com AGENDA FOR THE 2015 ANNUAL MEETING SCHEDULED FOR TUESDAY, APRIL 28, 2015 AT 10:00 A.M. IN THE FACILITY OFFICE The Agenda for the Annual Meeting will be as follows: 1. Call to order, determination of a quorum. 2. Approval of the Minutes of April 29, 2014 Annual Meeting. 3. Chairperson s remarks. 4. Annual Report overview. 5. Any additional business to come before the members. 6. Adjournment.
- 1 - ANNUAL REPORT FOR THE YEAR 2014 FOR PRESENTATION TO THE MEMBERS OF THE MICHIGAN WORKERS COMPENSATION PLACEMENT FACILITY Submitted by: Jon D. Heikkinen President
- 2 - Dear Facility Member: We are pleased to offer the report which follows, highlighting the activities and operational results of the Michigan Workers Compensation Placement Facility for the year 2014. ANNUAL MEETING OF THE FACILITY In accordance with Article VI, Subsection I of the Plan of Operation, the Thirty-Second Annual Meeting of the Facility was held April 29, 2014 at the offices of the Facility in Livonia, Michigan. The meeting was called to order by Mr. Tom Meldrum, Chairman, Board of Governors. Mr. Meldrum reported to the membership that the Facility Board of Governors, as appointed by the Commissioner of Insurance for 2014 were as follows: Blanchard Insurance Agency, Inc. Citizens Insurance Company of America Employer Representative, Tracey Alfonsi Employer Representative, Robert Steinheiser, CPA PC Farm Bureau Mutual Insurance Company of Michigan General Public Representative, Darlene Berent Hastings Mutual Insurance Company Liberty Mutual Insurance Company The Travelers Companies, Inc. BOARD OF GOVERNORS MEETINGS The MWCPF Board conducted two regular meetings in 2014. The regular meetings were concerned with MWCPF operations update, retrospective evaluation of MWCPF rating plans, litigation report, Servicing Carrier update, election of officers, assignment of committees, future meeting schedule, the 2013 MWCPF audit and the 2015 MWCPF budget. APPEALS COMMITTEE MEETINGS The Appeals Committee met three times in 2014. The appeals had to do independent contractors, certificate of insurance issues, audit problems and underwriting issues.
- 3 - FACILITY RATE MAKING The Facility filed and received approval of a 13.0% decrease in overall rate level to be applicable to new and renewal policies having effective dates on or after January 1, 2015. The filing was developed using weighted averages of 80% statewide experience and 20% Facility experience. By industry group, the changes were as follows: Manufacturing Contracting Office & Clerical Goods & Services Miscellaneous 14.9% decrease 13.8% decrease 16.9% decrease 10.0% decrease 12.4% decrease OPERATIONS The Customer Service Department processed 13,206 requests for policy changes during the year, a 1.3% decrease from the volume in 2013. Customer Service activity involves promulgating experience mods for applications, experience mod troubleshooting, ownership status of risks, file combining and separating, follow-up mail activity, assisting visitors, phone work, dispute resolution, etc. The Policy Services Department activities include the processing of applications for coverage and the review of policies, endorsements, cancellations and reinstatements. Based on the review process, policy criticisms may be generated. Policy criticisms are requests for changes regarding rates, endorsements, experience mod factors, ownership information, etc. There were 2,601 requests for policy correction issued in 2014 (a 47% increase from 2013 figures). The increase is due primarily to policy corrections needed as a result of the Star reassignment process. In March 2011, the Facility introduced an online application option (OAR) for obtaining coverage in the residual market pool. Current figures indicate about 87% of applications placed and new business premium placed in the pool comes through the OAR system. User feedback has been very positive and we expect the use of the system to continue to increase. The electronic application is accessible on our website at www.oar.caom.com. At year end 2014 there were 18,461 risks in the pool compared to 16,955 at the end of 2013, which is an increase of 1,506 risks (8.9%). The 2014 assigned risk estimated premium level of $75,436,995 is an increase of 1.5% from the corresponding 2013 time frame.
- 4 - The current Facility risk volume represents 10.5% of the workers compensation policies in the State of Michigan and 6.6% of statewide estimated annual premium. The following is a policy year comparison of Facility results for the last three years. Premium for 2014 was derived solely from policy declarations as of December 31 st. The amounts for 2012 and 2013 have been updated as unit statistical reports were received. Subsequent updates will take place as additional USR data is received. Policy Year New Assignments Renewal Total New Premium ($M) Renewal Total 2012** 7,787 6,589 14,376 $ 40.0 $ 26.6 $ 66.6 2013 6,278 10,467 16,745 $ 33.2 $ 48.1 $ 81.3 2014* 6,878 11,583 18,461 $ 27.7 $ 47.7 $ 75.4 * 2014 reflects policy declarations only, while 2012 & 2013 include subsequent USR data. ** New and renewal numbers affected by re-application process due to losing a servicing carrier.
- 5 - The following chart relates a comparison of risk size by premium for the latest three policy years. PREMIUM SIZE 1/2012 TO 1/2013 1/2013 TO 1/2014 1/2014 TO 1/2015 Policies % of Year Policies % of Year Policies % of Year 0-500 6,573 46% 5,438 33% 1,774 9% 501-1,000 2,969 20% 5,359 32% 9,869 53% 1,001-5,000 3,100 21% 3,813 22% 4,693 25% 5,001-10,000 732 5% 919 5% 967 5% 1,001-50,000 799 5% 958 5% 922 5% 50,001-100,000 119 1% 152 1% 146 1% 1,000,001-499,999 73 1% 95 1% 82 1% 500,000 + OVER 11 1% 11 1% 8 1% TOTAL 14,376 100% 16,745 100% 18,461 100% AVERAGE PREMIUM SIZE $4,636 $4,854 $4,086 2012 Data Source: 100% Unit Statistical Reports 2013 Data Source: Unit Statistical Reports and Policy Declarations 2014 Data Source: 100% Policy Declarations The significant shift in the percentage of policies written above and below $500 occurs due to estimated policy minimum premiums compared to actual audited (statistical report) minimum premiums. The average premium size in the pool for 2014 is down 15.8% from 2013. $6,000 Facility - Average Premium Size $5,000 $4,000 $4,636 $4,854 $4,086 $3,000 $2,000 $1,000 $0 2012 2013 2014
- 6 - Employers receiving coverage through the Facility are assigned to one of the following rating plans as filed with and approved by the Commissioner of Insurance. These rating plans were established by legislation and have been effective since January 1, 1983. RATING PLAN A Provides coverage for insured s who have a demonstrated accident frequency problem, who have a measurably adverse loss ratio over a period of years, or who have demonstrated an attitude of non-compliance with safety requirements. This Plan contains a system of surcharges as established by the Board and approved by the Commissioner. RATING PLAN B Provides coverage to those employers who apply for workers compensation insurance in the Facility and were either self-insured or a member of a selfinsurance group. RATING PLAN C Provides coverage for all other insured s not subject to Rating Plan A or Rating Plan B. Rating Plan C does not contain any surcharge system. The following information indicates the number of policies and estimated annual premium by Rating Plan. *2013 Number of Policies **2014 Number of Policies *2013 Standard Premium **2014 Standard Premium Rating Plan A 535 558 27,683,160 24,093,668 Rating Plan B 8 6 287,952 271,478 Rating Plan C 16,202 17,897 53,304,652 51,071,849 16,745 18,461 81,275,764 75,436,995 Data Source: * Unit Stat Reports, Policy Declarations ** Policy Declarations
- 7 - The following charts provide a breakdown of surcharge (%) for Rating Plan A policies. RATING PLAN A (2013 SURCHARGED POLICIES) SURCHARGE NUMBER OF POLICIES TOTAL EST. ANNUAL PREMIUM SURCHARGE PREMIUM STANDARD PREMIUM 10-19% 339 10,504,801 1,158,434 9,346,367 20-29% 152 10,188,203 2,043,152 8,145,051 30-39% 1 1,006,922 232,367 774,555 40% 43 5,983,234 1,709,495 4,273,739 TOTAL 535 27,683,160 5,143,448 22,539,712 OVERALL EFFECT OF SURCHARGE PROGRAM =.063 TOTAL NUMBER OF ASSIGNED RISK POLICIES = 16,955 TOTAL ASSIGNED RISK PREMIUM = $81,275,764 RATING PLAN A (2014 SURCHARGED POLICIES) SURCHARGE NUMBER OF POLICIES TOTAL EST. ANNUAL PREMIUM SURCHARGE PREMIUM STANDARD PREMIUM 10-19% 334 8,862,726 952,403 7,910,323 20-29% 181 9,820,320 2,071,648 7,748,672 30-39% 2 1,577,807 364,109 1,213,698 40% 40 3,807,163 1,087,761 2,719,402 TOTAL 557 24,068,163 4,475,922 19,592,094 OVERALL EFFECT OF SURCHARGE PROGRAM =.059 TOTAL NUMBER OF ASSIGNED RISK POLICIES = 18,461 TOTAL ASSIGNED RISK PREMIUM = $75,436,995
- 8 - RESIDUAL MARKET BURDEN The residual market burden is the policy year pool operation loss expressed as a percentage of direct voluntary market calendar year assessment base. The operating loss is equal to earned premium minus incurred losses minus servicing carrier allowance and other pool expenses plus pool interest income on cash flow. The following chart compares the residual market burden for Michigan to that of the National Pool. Updated information for this chart is obtained from the NCCI publication Residual Markets Results as of third quarter 2014. Although each year shown is updated annually, significant changes may occur as experience develops. CALENDAR YR. VOL. MARKET PREMIUM NET OPERATING LOSS BURDEN GAIN/LOSS 2008 MICHIGAN 2008 NCCI POOLS 930,467,089 12,018,146,988 (8,733,377) (94,643,976) (0.9%) (0.8%) 2009 MICHIGAN 2009 NCCI POOLS 818,252,678 10,925,958,666 (2,858,962) (47,948,360) (0.3%) (0.4%) 2010 MICHIGAN 2010 NCCI POOLS 778,889,443 10,318,387,961 (1,391,179) (64,896,299) (0.2%) (0.6%) 2011 MICHIGAN 2011 NCCI POOLS 911,202,266 10,998,564,419 4,693,712 (71,874,063) + 0.5% (0.7%) 2012 MICHIGAN 2012 NCCI POOLS 993,089,000 12,476,402,000 7,615,000 (66,750,000) + 0.8% (0.5%) 2013 MICHIGAN 2013 NCCI POOLS 993,089,000 12,476,408,000 (1,628,000) (64,824,000) (0.2%) (0.5%) ( ) = Operating Loss The graph below visually tracks the Residual Market Operating Results for Michigan. A positive amount reflects an operating profit in the pool, whereas a negative results shows a loss. 1.5% Residual Market Operating Results 1.0% 0.5% 0.0% -0.5% -1.0% -1.5% 2008 2009 2010 2011 2012 2013 MI Facility NCCI Pools
- 9 - The Data Collection Agency approves the Pure Premium Publication that provides historic loss cost information to insurers for rate setting purposes in the voluntary market. The following chart compares the annual DCA Pure Premium Publication indicated change in pure premium level to the Michigan Workers Compensation Placement Facility s annual rate filing. Voluntary & Facility Rate Changes 20% 15% 10% 5% 0% -5% -10% -15% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Voluntary -6.5% 4.7% -4.2% 8.3% -3.1% -1.9% -7.4% -7.2% -8.3% -6.5% Facility -6.4% 8.1% -5.9% 1.7% -4.1% 14.6% -3.4% -4.9% -11.0% -13.0% The accumulated change totals from 2006 through 2015: DCA Pure Premiums: -28.9% or an annualized change of -3.3% Facility Rate Filing: -24.3% or an annualized change of -2.7% FINANCES The Facility was audited by UHY, LLP the week of March 9 th, 2015. The Board will be notified with the results. CIRCULAR LETTERS The Facility published five Circular Letters in 2014. Circular letters issued dealt with Direct Premium for calendar year 2013, 2015 Assigned Risk Rates and Factors, 2013 Reapportionment, Notice of Annual Meeting with Proxy, and Basic Manual updates. Circular letters are available for viewing on our web site, www.caom.com.
- 10 - FACILITY MEMBERS Michigan Law requires all insurance carriers licensed to write workers compensation in the State of Michigan to be a member of the Facility. There were 417 members of the Facility at year end 2014. The membership is up 37 compared to 2013. Attached is a complete listing of the Facility membership. This report reflects the operations of the Michigan Workers Compensation Placement Facility for the 2014 calendar year. Thank you for your consideration and cooperation over the past year. Sincerely, Jon Heikkinen Jon D. Heikkinen President
2014 CIRCULAR LETTER LIST CIRCULAR NUMBER DATE CIRCULAR LETTER 256 02/11/14 Net Direct Premium for Calendar Year 2013 257 03/18/14 Notice of Annual Meeting with Proxy 258 06/18/14 Basic Manual for Workers Compensation and Employers Liability Insurance 2015 Updates 259 07/02/14 Reapportionment 2013 260 09/18/14 Regarding Assigned Risk Rates & Values for MWCPF
Membership as of December 31, 2014 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 Insurance Company Ace Property & Casualty Insurance Company ACIG Insurance Company Acuity, A Mutual Insurance Company Advantage Workers Compensation Insurance Company 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 & Casualty Insurance Company Allied World Company Allmerica Financial Alliance Insurance Company Allmerica Financial Benefit Insurance Company Allstate Indemnity Company Allstate Insurance Company AMCO Insurance Company American Alternative Insurance Corporation American Automobile Insurance Company American Business & Personal Insurance Mutual American Casualty Company of Reading, PA American Compensation Insurance Company American Country Insurance Company American Economy Insurance Company American Empire Insurance Company American European Insurance Company American Family Home Insurance Company American Fire and Casualty Company American Guarantee and Liability Insurance Company American Home Assurance Company American Insurance Company American Interstate Insurance Company American Mining Insurance Company American Modern Home Insurance Company American Physicians Assurance Corporation American Safety Casualty Insurance Company American Select Insurance Company American States Insurance Company American Zurich Insurance Company Amerisure Insurance Company
Membership as of December 31, 2014 Amerisure Mutual Insurance Company Amerisure Partners Insurance Company Ameritrust Insurance Corporation Amguard Insurance Company AmTrust Insurance Company of Kansas, Inc. Ansur America Insurance Company Arch Insurance Company Argonaut Great Central Insurance Company Argonaut Insurance Company Argonaut Midwest Insurance Company Arrowood Indemnity Company Ashmere Insurance Company Associated Indemnity Corporation Assurance Company of America Atlantic Mutual Insurance Company Atlantic Specialty Insurance Company Auto-Owners Insurance Company Automobile Insurance Company of Hartford CT Axis Insurance Company Badger Mutual Insurance Company Balboa Insurance Company Bankers Standard Insurance Company Benchmark Insurance Company Berkley National Insurance Company Berkley Regional Insurance Company Berkshire Hathaway Homestate Insurance Company Bitco General Insurance Corporation Bitco National Insurance Company Bloomington Compensation Insurance Company Brotherhood Mutual Insurance Company Camden Fire Insurance Association Capitol Indemnity Corporation Carolina Casualty Insurance Company CastlePoint National Insurance Company Centennial 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
Membership as of December 31, 2014 Citizens Insurance Company of Ohio Citizens Insurance Company of the Midwest Clarendon National Insurance Company Colonial American Casualty & Surety Company Commerce and Industry Insurance Company Companion Commercial Insurance Company Companion Property & Casualty Insurance Company Conifer Insurance Company Consolidated Insurance Company Constitution Insurance Company Continental Casualty Company Continental Indemnity Company Continental Insurance Company Continental Western Insurance Company Corepointe Insurance Company Crum and Forster Indemnity Company Cumis Insurance Society Incorporated Dakota Truck Underwriters Depositors Insurance Company Diamond State Insurance Company Discover Property & Casualty Insurance Company Eastern Advantage Assurance Company Eastern Alliance Insurance Company Eastguard Insurance Company Electric Insurance 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 Everest National Insurance Company Evergreen National Indemnity Company Fairmont Insurance Company Fairmont Premier Insurance Company Fairmont Specialty 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 Rural Electric Insurance Exchange
Membership as of December 31, 2014 Federated Service Insurance Company Fidelity and Deposit Company of Maryland Fidelity and Guaranty Insurance Company Fidelity and Guaranty Insurance Underwriters Fireman s Fund Insurance Company Firemens Insurance Company of Washington, D.C. First Dakota Indemnity Company First Financial Insurance 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 Freestone 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 Great American Alliance Insurance Company Great American Assurance Company Great American Insurance Company Great American Insurance Company of New York Great American Security Insurance Company 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
Membership as of December 31, 2014 Hartford Accident and Indemnity Company Hartford Casualty Insurance Company Hartford Fire Insurance Company Hartford Insurance Company of the Midwest Hartford Underwriters Insurance Company Hastings Mutual Insurance Company Hawkeye Security Insurance Company HDI Gerling America Insurance Company Highmark Casualty Insurance Company Home-Owners Insurance 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 Lancer Insurance Company Liberty Insurance Corporation Liberty Mutual Fire Insurance Company Liberty Mutual Insurance Company Lincoln General Insurance Company LM Insurance Corporation Lumbermens Underwriting Alliance Manufacturers Alliance Insurance Company Manufacturing Technology Mutual Insurance Company Markel Insurance Company Maryland Casualty Company Massachusetts Bay Insurance Company MEMIC Indemnity Company Merchants Mutual Insurance Company Merchants Preferred Insurance Company Meridian Citizens Mutual Insurance Company Meridian Security Insurance Company MHA Insurance Company MIC Property & Casualty Insurance Corporation Michigan Commercial Insurance Mutual Michigan Insurance Company Michigan Millers Mutual Insurance Company Mid Century Insurance Company Middlesex Insurance Company Midwest Employers Casualty Company Midwestern Indemnity Company
Membership as of December 31, 2014 Milwaukee Casualty Insurance Company Mitsui Sumitomo Insurance Company 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 Farmers Union Property & Casualty Co National Fire Insurance Company of Hartford National General Insurance Company National Indemnity Company 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 Insurance Company Pittsburgh, PA 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 Nipponkoa Insurance Company NLC Mutual Insurance Company Norguard Insurance Company North American Elite Insurance Company North American Specialty Insurance Company North Pointe Insurance Company North River Insurance Company Northbrook Indemnity Company Northern Assurance Company of America Northern Insurance Company of New York Nova Casualty Company OBI National Insurance Company Odyssey America Reinsurance Corporation Ohio Casualty Insurance Company Ohio Farmers Insurance Company Ohio Security Insurance Company Old Republic General Insurance Corporation Old Republic Insurance Company OneBeacon America Insurance Company
Membership as of December 31, 2014 OneBeacon Insurance Company Pacific Employers Insurance Company Pacific Indemnity Company Pacific Insurance Company Limited Partners Mutual Insurance Company Patriot General Insurance Company Peerless Indemnity Insurance Company Peerless Insurance Company Penn America Insurance Company Penn Millers Insurance Company Pennsylvania Lumbermens Mutual Insurance Company Pennsylvania Manufacturers Association Insurance Company Pennsylvania Manufacturers Indemnity Company Pennsylvania National Mutual Casualty Insurance Company Petroleum Casualty Company Pharmacists Mutual Insurance Company Phoenix Insurance Company Pioneer State Mutual Insurance Company Platte River Insurance Company Plaza Insurance Company Praetorian Insurance Company Preferred Professional Insurance Company Preserver Insurance Company Princeton Insurance Company Property and Casualty Insurance Company of Hartford Protective Insurance Company Providence Washington Insurance Company Public Service Mutual Insurance Company PXRE Corporation QBE Insurance Corporation Red Rock Insurance Company Regent Insurance Company Republic Franklin Insurance Company Republic Indemnity Company of America Repwest Insurance Company Retailers Mutual Insurance Company Riverport Insurance Company RLI Insurance Company Rockwood Casualty Insurance Company Safeco Insurance Company of America Safety First Insurance Company Safety National Casualty Corporation Sagamore Insurance Company Samsung Fire & Marine Insurance Company LTD
Membership as of December 31, 2014 Seabright Insurance Company Seaton Insurance Company Secura Insurance, A Mutual Company Secura Supreme Insurance Company Security National Insurance Company Select Insurance Company Selective Insurance Company 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 Japan Fire & Marine Insurance Company of America Sompo Japan Insurance Company of America Southern Insurance Company Sparta Insurance Company St. Paul Fire and Marine Insurance Company 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 State Auto Property & Casualty Insurance Company State Automobile Mutual Insurance Company State Farm Fire and Casualty Company State Farm General Insurance Company State National Insurance Company, Inc. Stonington Insurance Company Strathmore Insurance Company T.H.E. Insurance Company Technology Insurance Company TIG Insurance Company TNUS Insurance Company Tokio Marine America Insurance Company Tower Insurance Company of New York Tower National Insurance Company Toyota Motor Insurance Company Trans Pacific Insurance Company Transguard Insurance Company of America Transportation Insurance Company
Membership as of December 31, 2014 Travelers Casualty and Surety Company Travelers Casualty and Surety Company of America Travelers Casualty Company Travelers Casualty Company of Connecticut Travelers Casualty Insurance Company 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 Company of America Tri-State Insurance Company of Minnesota Truck Insurance Exchange Trumbull Insurance Company Twin City Fire Insurance Company U.S. Specialty Insurance Company Ullico Casualty Company Union Insurance Company United National Casualty Insurance Company United National Specialty Insurance Company United States Fidelity and Guaranty Company United States Liability Insurance Company United Wisconsin Insurance Company Universal Underwriters Insurance Company US Fire Insurance Company Utica Mutual Insurance Company Valley Forge Insurance Company Vanliner Insurance Company Vigilant Insurance Company Virginia Surety Company Inc. Wausau Business Insurance Company Wausau Underwriters Insurance Company Wesco Insurance Company West American Insurance Company West Bend Mutual Insurance Company Westchester Fire Insurance Company Westfield Insurance Company Westfield National Insurance Company Westport Insurance Corporation Williamsburg National Insurance Company WRM America Indemnity Company XL Insurance America, Inc.
Membership as of December 31, 2014 XL Specialty Insurance Company Zenith Insurance Company Zurich-American Insurance Company Zurich-American Insurance Company of Illinois