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

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

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

To View the full Annual Report online, please go to: https://caom.com About Us Annual Reports, or https://caom.com/circulars-rating-values-annual-reports/category/annual-reports-1

CAOM / MWCPF INTRODUCTION

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.

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

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

CAOM / MWCPF COMPANY OPERATIONS

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.

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.

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.

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

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.

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

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.

Projects / Initiatives o 2017 Completed New company website was released in March of 2017. - 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 2017. - 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.

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

CAOM / MWCPF COMPANY METRICS

Company Operational Metrics

Company Operational Metrics

Company Operational Metrics

Company Operational Metrics

Company Operational Metrics

Company Operational Metrics - Facility Statewide Voluntary / Assigned Risk Split

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

Company Operational Metrics - Facility Assigned Risk Processing Efficiency

Company Operational Metrics - Facility Operating Results

Company Operational Metrics CAOM / MWCPF Staffing and Finances

CAOM / MWCPF MICHIGAN WC MARKET UPDATE

Michigan Work Comp Market Update Payroll and Premium History

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%

Michigan Work Comp Market Update Top Class Codes

Michigan Work Comp Market Update Policy Size Distributions

Michigan Work Comp Market Update Experience Rating Distributions Voluntary Market

Michigan Work Comp Market Update Experience Rating Distributions Assigned Risk Market

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

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

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

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 0042 172,084,628 2,289 17.24 2.99 Range Payroll % Policies % 33,691,473 130,398,918 7,986,237 5,000 3,000 20 76 5 0 0 358 1,785 146 1 1 16 78 6 0 0 0129 195,673,317 1,058 13.66 2.64 194,679,383 99 1,045 99 346,404 0 12 1 0 0 0 0 0 0 0 0 647,530 0 1 0 2003 164,006,735 493 8.33 1.69 59,258,115 36 140 28 84,424,374 51 209 42 15,632,865 10 94 19 1,577,459 1 19 4 3,113,922 2 31 6 2016 212,064,090 26 2.92 1.17 14,388,142 7 6 23 154,708,696 73 7 27 42,072,631 20 6 23 334,874 0 4 15 559,747 0 3 12 2157 143,535,176 39 9.15 3.25 109,135,526 76 8 21 32,702,296 23 12 31 815,490 1 10 26 855,651 1 7 18 26,213 0 2 5

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 2881 146,920,378 242 5.19 1.34 Range Payroll % Policies % 27,068,259 92,702,165 16,883,359 7,310,030 2,956,565 18 63 11 5 2 33 97 42 53 17 14 40 17 22 7 3076 696,699,476 418 5.96 1.34 105,891,080 15 62 15 411,564,946 59 166 40 127,491,993 18 104 25 41,394,709 6 52 12 10,356,748 1 34 8 3095 536,620,630 593 3.72 0.94 118,114,908 22 87 15 184,619,480 34 180 30 137,097,229 26 176 30 27,016,379 5 50 8 69,772,634 13 100 17 3096 235,796,422 388 5.34 1.33 43,807,171 19 43 11 107,731,171 46 175 45 67,750,842 29 129 33 11,101,294 5 17 4 5,405,944 2 25 6 3113 144,344,909 226 5.29 1.31 51,398,603 36 60 27 77,966,410 54 126 56 8,815,296 6 22 10 3,818,244 3 8 4 2,346,356 2 10 4

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 3116 181,431,171 288 5.60 1.52 Range Payroll % Policies % 26,700,398 78,070,343 43,652,718 12,859,622 20,148,090 15 43 24 7 11 19 114 99 36 20 7 40 34 13 7 3146 537,049,572 283 6.74 1.30 254,593,875 47 93 33 229,254,377 43 145 51 48,481,860 9 37 13 50,325 0 1 0 4,669,135 1 7 2 3179 500,957,038 376 5.13 0.62 423,846,723 85 235 63 58,151,878 12 80 21 12,812,285 3 39 10 1,001,983 0 9 2 5,144,169 1 13 3 3400 491,448,846 298 12.35 1.64 428,719,870 87 173 58 57,142,976 12 103 35 1,818,629 0 12 4 0 0 0 0 3,767,371 1 10 3 3612 213,465,259 176 4.60 0.95 114,945,564 54 37 21 69,022,193 32 55 31 11,275,580 5 40 23 9,978,554 5 18 10 8,243,368 4 27 15

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 3628 564,197,976 599 7.39 1.22 Range Payroll % Policies % 268,235,231 229,439,480 41,214,449 22,434,828 2,873,988 48 41 7 4 1 161 289 80 56 13 27 48 13 9 2 3629 977,387,323 946 4.06 1.11 279,514,134 29 207 22 278,292,218 28 276 29 183,026,527 19 242 26 188,437,607 19 137 14 48,116,837 5 85 9 3632 739,466,813 1,078 7.45 1.70 315,336,252 43 150 14 287,418,091 39 546 51 104,961,623 14 237 22 7,718,877 1 50 5 24,031,970 3 95 9 3648 146,673,610 59 6.25 0.64 144,574,239 99 48 81 1,876,585 1 6 10 0 0 0 0 184,236 0 3 5 38,550 0 2 3 3681 299,423,115 206 4.02 0.97 142,976,778 48 57 28 129,640,909 43 101 49 25,367,734 8 39 19 969,490 0 7 3 468,204 0 2 1

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 3685 223,847,915 272 2.74 0.58 Range Payroll % Policies % 87,129,963 116,861,264 16,022,498 1,220,849 2,613,341 39 52 7 1 1 92 129 37 6 8 34 47 14 2 3 3724 454,466,121 1,295 16.34 2.16 325,782,744 72 746 58 85,801,746 19 312 24 29,916,936 7 152 12 8,700,956 2 49 4 4,263,739 1 38 3 3807 184,395,446 20 3.20 1.30 171,715,893 93 4 20 1,544,784 1 6 30 4,961,495 3 5 25 3,183,852 2 1 5 2,989,422 2 4 20 3808 425,950,045 110 8.26 1.49 349,004,540 82 38 35 63,094,287 15 61 55 13,626,933 3 8 7 75,000 0 1 1 149,285 0 2 2 3824 218,682,730 63 9.92 1.60 202,259,344 92 23 37 10,529,807 5 26 41 4,321,428 2 6 10 1,227,200 1 4 6 344,951 0 4 6

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 4299 353,489,091 847 3.75 0.91 Range Payroll % Policies % 81,358,263 170,392,728 76,009,955 12,755,224 12,972,921 23 48 22 4 4 106 349 251 71 70 13 41 30 8 8 4410 177,816,622 117 8.99 1.60 99,593,723 56 40 34 72,465,956 41 52 44 3,544,353 2 13 11 843,647 0 8 7 1,368,943 1 4 3 4452 164,963,058 153 6.29 1.37 131,276,793 80 61 40 21,988,672 13 45 29 8,248,625 5 30 20 716,509 0 6 4 2,732,459 2 11 7 4459 214,012,770 144 6.17 1.22 67,286,651 31 28 19 120,887,552 56 79 55 15,633,487 7 21 15 2,636,017 1 6 4 7,569,063 4 10 7 4484 1,168,089,346 553 6.70 1.22 606,162,490 52 140 25 444,046,941 38 274 50 78,209,330 7 63 11 16,989,922 1 44 8 22,680,663 2 32 6

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 4511 966,476,829 1,599 3.01 0.28 Range Payroll % Policies % 851,567,843 88,163,525 16,001,903 10,737,048 6,510 88 9 2 1 0 1,133 326 92 50 1 71 20 6 3 0 4825 252,583,230 51 1.92 0.50 217,400,771 86 29 57 30,679,204 12 12 24 3,788,086 1 7 14 663,197 0 2 4 51,972 0 1 2 4829 401,126,204 63 2.99 0.28 392,012,338 98 52 83 8,843,398 2 8 13 100,000 0 1 2 0 0 0 0 170,468 0 2 3 5183 571,762,773 2,179 10.56 1.68 151,522,151 27 358 16 316,630,813 55 1,375 63 68,203,738 12 265 12 35,401,029 6 182 8 5,042 0 1 0 5190 638,707,925 2,251 5.24 1.26 88,171,443 14 83 4 258,951,476 41 794 35 138,447,939 22 547 24 93,280,869 15 514 23 59,856,198 9 313 14

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 5191 667,348,803 1,815 2.78 0.51 Range Payroll % Policies % 365,388,167 185,700,090 73,941,734 33,750,133 8,568,679 55 28 11 5 1 593 704 321 131 67 33 39 18 7 4 5221 288,752,615 1,838 13.22 2.96 40,565,489 14 98 5 138,782,481 48 885 48 68,757,381 24 507 28 24,702,343 9 192 10 15,944,921 6 157 9 5403 136,871,624 914 25.75 4.32 48,784,445 36 151 17 49,908,219 36 398 44 27,253,049 20 232 25 5,229,879 4 38 4 5,696,032 4 96 11 5437 206,015,899 2,222 12.02 2.94 7,456,304 4 31 1 67,725,666 33 685 31 90,581,121 44 999 45 21,250,664 10 280 13 19,002,144 9 228 10 5476 156,533,945 1,703 19.96 3.93 76,461,631 49 669 39 63,986,216 41 788 46 11,197,109 7 156 9 1,701,392 1 33 2 3,187,597 2 59 3

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 5538 135,277,858 583 12.27 2.39 Range Payroll % Policies % 18,372,138 56,462,900 41,233,353 12,651,611 6,557,856 14 42 30 9 5 73 204 190 29 88 13 35 33 5 15 5550 405,245,403 1,523 8.49 2.14 96,542,100 24 136 9 151,440,354 37 517 34 101,465,954 25 566 37 19,414,858 5 87 6 36,382,137 9 217 14 5606 511,638,219 2,246 4.87 0.62 345,563,616 68 1,083 48 113,203,504 22 666 30 20,722,599 4 167 7 7,340,497 1 106 5 24,808,003 5 226 10 5645 246,089,426 3,966 31.97 6.31 50,752,660 21 804 20 158,535,602 64 2,523 64 36,349,429 15 634 16 449,590 0 4 0 2,145 0 1 0 6217 207,659,789 1,405 16.77 3.43 75,386,617 36 224 16 82,145,440 40 548 39 29,269,015 14 381 27 20,818,717 10 253 18 40,000 0 1 0

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 6504 195,100,099 176 5.09 0.91 Range Payroll % Policies % 30,716,401 119,667,371 40,589,423 3,068,135 1,058,769 16 61 21 2 1 22 57 76 13 8 13 32 43 7 5 7208 478,071,856 1,152 21.08 5.46 31,994,799 7 80 7 247,906,503 52 511 44 145,085,679 30 431 37 20,399,597 4 50 4 32,685,278 7 80 7 7219 787,491,658 416 17.56 2.99 643,774,642 82 161 39 116,505,363 15 174 42 4,848,313 1 21 5 7,835,603 1 25 6 14,527,737 2 35 8 7380 1,521,302,171 8,667 9.83 0.51 580,000 0 1 0 375,864,624 25 1,290 15 726,794,051 48 3,708 43 293,423,259 19 2,592 30 124,640,237 8 1,076 12 7403 296,006,131 66 7.78 2.73 172,584,037 58 8 12 120,823,101 41 47 71 2,482,140 1 9 14 0 0 0 0 116,853 0 2 3

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 7405 849,063,744 23 1.05 0.50 Range Payroll % Policies % 719,384,138 114,000 62,000 127,651,765 1,851,841 85 0 0 15 0 5 1 1 10 6 22 4 4 43 26 7600 295,368,708 252 10.01 2.58 119,182,003 40 47 19 138,500,332 47 111 44 21,378,862 7 56 22 15,878,388 5 30 12 429,123 0 8 3 7610 335,212,183 405 1.50 0.35 197,731,552 59 79 20 98,092,137 29 139 34 29,304,521 9 121 30 9,073,088 3 52 13 1,010,885 0 14 3 7720 374,209,029 408 7.19 1.11 293,239,364 78 139 34 29,499,834 8 85 21 13,005,979 3 16 4 27,259,559 7 84 21 11,204,293 3 84 21 8006 392,336,997 1,502 4.40 0.21 32,526,201 8 26 2 226,116,656 58 583 39 117,148,812 30 651 43 10,851,807 3 169 11 5,693,521 1 74 5

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 8008 574,163,512 1,160 1.83 0.45 Range Payroll % Policies % 338,933,179 140,023,820 58,351,452 28,684,298 8,170,763 59 24 10 5 1 345 308 254 192 61 30 27 22 17 5 8010 752,118,456 3,075 2.57 0.50 108,831,433 14 124 4 216,420,809 29 747 24 192,727,104 26 1,006 33 175,308,838 23 866 28 58,830,272 8 336 11 8013 228,600,063 784 0.76 0.14 73,821,619 32 179 23 87,139,328 38 223 28 55,841,058 24 270 34 7,703,731 3 79 10 4,094,327 2 33 4 8017 2,877,009,064 8,053 2.30 0.62 492,730,722 17 1,359 17 1,870,386,256 65 2,922 36 311,786,521 11 2,203 27 146,980,836 5 1,110 14 55,124,729 2 460 6 8018 586,418,788 1,405 7.33 1.32 352,799,533 60 497 35 205,167,942 35 732 52 22,635,776 4 125 9 200,000 0 1 0 5,615,537 1 51 4

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 8033 375,498,784 504 20.00 1.13 Range Payroll % Policies % 375,101,495 0 0 0 397,289 100 0 0 0 0 503 0 0 0 1 100 0 0 0 0 8039 176,242,739 31 2.58 0.89 74,496,761 42 8 26 101,374,852 58 12 39 125,986 0 5 16 40,388 0 2 6 204,752 0 4 13 8044 181,662,665 492 4.61 1.46 72,446,987 40 85 17 18,200,378 10 70 14 37,311,095 21 163 33 50,081,126 28 145 29 3,623,079 2 29 6 8045 581,635,648 614 1.93 0.28 545,149,076 94 515 84 34,281,376 6 88 14 612,831 0 3 0 440,000 0 1 0 1,152,365 0 7 1 8046 151,912,383 324 3.08 0.88 53,363,708 35 19 6 65,773,196 43 102 31 20,404,770 13 108 33 9,846,652 6 87 27 2,524,057 2 8 2

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 8058 139,064,052 293 5.96 1.30 Range Payroll % Policies % 99,783,316 27,321,994 6,761,747 4,937,891 259,104 72 20 5 4 0 48 148 51 43 3 16 51 17 15 1 8107 185,475,908 377 8.22 1.20 102,602,511 55 155 41 58,391,142 31 111 29 18,647,300 10 69 18 3,692,203 2 21 6 2,142,752 1 22 6 8227 143,080,767 1,416 8.41 2.22 26,678,095 19 160 11 64,171,407 45 518 37 29,497,389 21 401 28 19,355,229 14 299 21 3,378,647 2 38 3 8232 145,513,834 516 10.75 2.50 59,543,343 41 52 10 47,884,541 33 155 30 22,181,528 15 163 32 12,022,012 8 113 22 3,882,410 3 33 6 8292 210,222,780 545 8.85 2.41 56,168,574 27 87 16 90,530,404 43 200 37 38,965,050 19 146 27 17,930,841 9 84 15 6,627,911 3 28 5

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 8387 252,435,098 1,437 11.12 1.69 Range Payroll % Policies % 137,442,684 87,156,100 27,786,777 0 49,537 54 35 11 0 0 459 664 314 0 2 32 46 22 0 0 8393 321,039,798 1,243 4.38 1.39 67,477,453 21 141 11 99,658,376 31 336 27 92,923,105 29 491 40 19,620,110 6 142 11 41,360,754 13 133 11 8395 1,121,375,292 4,950 10.73 1.48 618,483,424 55 1,875 38 403,630,045 36 2,503 51 98,921,414 9 573 12 0 0 0 0 340,409 0 3 0 8401 160,333,627 1,013 2.55 0.41 97,972,949 61 478 47 25,275,573 16 184 18 15,473,389 10 238 23 0 0 0 0 21,611,716 13 113 11 8601 1,364,831,246 2,220 1.77 0.13 803,356,889 59 897 40 475,286,941 35 1,047 47 42,260,367 3 186 8 43,917,049 3 99 4 10,000 0 1 0

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 8720 170,219,468 433 2.87 0.72 Range Payroll % Policies % 51,477,275 63,727,593 30,683,454 18,474,687 5,856,459 30 37 18 11 3 47 179 109 73 25 11 41 25 17 6 8742 10,510,665,835 26,998 2.27 0.00 9,429,911,710 90 21,242 79 1,080,184,653 10 5,753 21 0 0 0 0 0 0 0 0 569,472 0 7 0 8748 563,400,276 996 1.30 0.26 78,464,664 14 88 9 256,864,801 46 349 35 91,553,570 16 149 15 72,350,146 13 230 23 64,167,095 11 180 18 8755 135,735,356 259 1.13 0.18 19,707,137 15 66 25 78,613,355 58 111 43 15,159,404 11 74 29 7,589,198 6 2 1 14,666,262 11 6 2 8803 2,395,929,070 2,739 0.86 0.02 2,386,095,085 100 2,665 97 6,702,040 0 59 2 3,130,945 0 14 1 0 0 0 0 1,000 0 1 0

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 8810 46,390,329,666 73,764 1.67 0.04 Range Payroll % Policies % 45,680,572,657 707,798,829 1,514,489 0 443,691 98 2 0 0 0 69,528 4,224 16 0 1 94 6 0 0 0 8820 1,305,350,329 2,455 0.35 0.06 658,227,051 50 1,017 41 471,127,625 36 790 32 107,825,752 8 437 18 43,426,114 3 136 6 24,743,787 2 75 3 8829 911,319,963 187 6.80 1.57 529,408,954 58 57 30 268,542,875 29 73 39 49,344,633 5 20 11 46,232,511 5 30 16 17,790,990 2 8 4 8831 374,257,384 1,326 2.89 0.62 148,912,914 40 471 36 140,602,805 38 450 34 46,741,377 12 173 13 31,810,707 8 215 16 6,189,581 2 17 1 8832 5,565,053,758 8,982 1.29 0.02 2,835,110,773 51 3,616 40 2,588,605,343 47 5,088 57 140,798,897 3 277 3 0 0 0 0 538,745 0 1 0

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 8833 873,086,161 270 2.70 0.65 Range Payroll % Policies % 544,930,479 201,891,183 83,586,609 28,427,848 14,250,042 62 23 10 3 2 73 83 77 32 6 27 31 29 12 2 8835 845,628,067 1,196 6.56 1.32 203,063,688 24 198 17 488,765,464 58 700 59 141,923,609 17 272 23 937,229 0 8 1 10,938,077 1 18 2 8868 2,110,503,308 7,457 1.99 0.02 1,330,856,885 63 5,675 76 605,453,973 29 1,462 20 174,187,450 8 320 4 0 0 0 0 5,000 0 1 0 8869 1,244,225,745 924 0.78 0.17 199,696,298 16 56 6 982,688,243 79 546 59 43,323,623 3 233 25 12,059,849 1 69 7 6,457,732 1 20 2 8901 765,953,022 66 0.55 0.07 761,689,446 99 47 71 2,505,865 0 11 17 200,000 0 1 2 1,341,375 0 3 5 216,336 0 4 6

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 9015 1,648,256,981 13,797 10.27 1.42 Range Payroll % Policies % 671,777,781 757,653,552 161,724,543 57,091,105 10,000 41 46 10 3 0 3,967 6,432 2,245 1,191 1 29 47 16 9 0 9052 338,226,137 1,109 5.63 0.96 148,864,937 44 409 37 147,565,446 44 351 32 33,370,013 10 302 27 3,422,687 1 61 6 5,003,054 1 55 5 9053 628,352,517 814 6.88 1.89 150,031,031 24 197 24 300,581,926 48 424 52 172,597,586 27 183 22 0 0 0 0 5,141,974 1 10 1 9058 3,366,695,621 11,042 3.14 0.62 1,678,622,033 50 3,622 33 1,019,642,543 30 3,341 30 554,330,322 16 3,463 31 7,992,142 0 40 0 106,108,581 3 578 5 9063 284,400,318 1,083 2.40 0.47 93,912,105 33 271 25 102,856,858 36 371 34 28,211,717 10 176 16 47,062,304 17 196 18 12,357,334 4 69 6

Michigan WC Market Update Class Rate Quintiles Class Code Payroll Policies Highest Rate Lowest Rate 9102 146,737,477 1,852 7.11 1.94 Range Payroll % Policies % 5,694,310 76,813,663 43,004,534 20,573,262 651,708 4 52 29 14 0 35 794 661 348 14 2 43 36 19 1 9501 236,731,504 480 6.99 1.32 79,491,817 34 97 20 100,918,414 43 209 44 26,498,733 11 67 14 18,009,993 8 65 14 11,812,547 5 43 9 9519 136,624,859 616 10.61 2.89 23,599,272 17 92 15 97,023,053 71 335 54 13,474,421 10 147 24 2,162,030 2 40 6 366,083 0 2 0 9522 281,798,250 158 5.09 1.26 11,187,754 4 15 9 247,963,694 88 67 42 13,144,596 5 36 23 8,797,741 3 30 19 704,465 0 10 6 9586 305,439,279 1,494 0.96 0.23 89,913,120 29 234 16 119,157,515 39 638 43 61,146,398 20 318 21 26,116,018 9 229 15 9,106,228 3 75 5

Michigan Work Comp Market Update Profitability Calendar Year Combined Ratio

Michigan Work Comp Market Update Profitability Policy Year Combined Ratio

Michigan Work Comp Market Update Trend Summary Unemployment

Michigan Work Comp Market Update Trend Summary Frequency

Michigan Work Comp Market Update Distribution of Ultimate Losses

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

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

CAOM / MWCPF 2017 CIRCULARS

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 00 04 25 April 26, 2017 #273 MWCPF 2017 Reapportionment July 1, 2017 #274 MWCPF - Experience Rating Modification Factor Revision Endorsement Update WC 00 04 25 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 00 04 03 October 18, 2017

CAOM / MWCPF MEMBERSHIP LISTING

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

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

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

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

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

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

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

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

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

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

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