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Middle Market
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| Eligible personnel |
|
Criteria |
| Middle Market Managers |
|
 Meet 100% of their New Business Written Premium objective; and
Regional must meet QA objective of 90%; and
Have a minimum of one Sales Underwriter/team qualify for Winners'
Circle during the year; and
Regional/Branch/Division must meet its budgeted profit target
(3 Year weighted ROE Goal) and
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Team Total
Written Premium Objective |
|
Winner's Circle Qualification |
|
Under $45M
$45M - $70M
Over $70M
|
|
125% of Total WP Objective
120% of Total WP Objective
115% of Total WP Objective
|
|
|
| Middle Market Regional Office Sales Teams |
|
Sales underwriters must be at 100% of objective and write a
minimum of $3.3 million in New Business Written Premium; and
Renewal underwriters premium renewal retention must be
at least 5 points greater than the Regional Office objective; and
Individual meet QA Standard of 87%; and
85% of the Team's total book must be in Superior, High
and Average; and
Regional/Branch must meet its budgeted profit target
(3 Year weighted ROE Goal).
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|
|
|
|
Team Total
Written Premium Objective |
|
Winner's Circle Qualification |
|
Under $10M
$10M - $15M
$15M - $20M
Over $20M
|
|
120% of Total WP Objective
115% of Total WP Objective
112% of Total WP Objective
110% of Total WP Objective
|
|
|
| Middle Market Sales and Service Office Underwriters |
|
Must write $1.8 million in New Business Written Premium; and
Total WP must be at least $5M; and
85% of the total book must be in Superior, High and Average; and
Must meet QA Standard of 87%; and
Division must meet its budgeted profit target
(3 Year Ultimate Accident Year Loss Ratio).
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|
|
|
|
| Total Written Premium Objective |
|
Winner's Circle Qualification |
|
$5M - $10M
Over $10M
|
|
120% of Total WP Objective
115% of Total WP Objective
|
|
|
|
 Must be in position as of March 31, 2005.
Must be an employee at the time of the award trip
Cannot be on a verbal or written performance notice
Please note: We recognize that changing business conditions can have an impact on our
expected results.
If this occurs, there will still be a minimum number of winners per segment
based on top sales performances.
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2005 Specialty Construction
|
| Eligible personnel |
|
Criteria |
| Field Underwriters |
|
Achieve a minimum of 115% of net written premium budget
Achieve an aggregate QAT score of 85% or higher
Renewal retention by account of 85% or better
3-year weighted ultimate accident year loss ratio must meet or
exceed your target
|
|
| Home Office Underwriting Office and Directors |
|
Achieve aggregate QAT of 85% or better for all assigned territories
Achieve a minimum of 115% of new written premium budget
3-year weighted ultimate accident year loss ratio must meet or
exceed your target
|
|
|
Must be in position as of March 31, 2005.
Must be an employee at the time of the award trip
Cannot be on a verbal or written performance notice
Please note: We recognize that changing business conditions can have an impact on our
expected results.
If this occurs, there will still be a minimum number of winners per segment
based on top sales performances.
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2005 Alternative Markets
1 Winner
|
| Eligible personnel |
|
Criteria |
Program Managers
Assistant Program Managers
Underwriters
|
|
One winner will be selected based on the following:
Growth in premium base for captives assigned
Quality of program management including client relationship
management
|
|
|
Must be in position as of March 31, 2005.
Must be an employee at the time of the award trip
Cannot be on a verbal or written performance notice
Please note: We recognize that changing business conditions can have an impact on our
expected results.
If this occurs, there will still be a minimum number of winners per segment
based on top sales performances.
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2005 Specialty Programs
|
| Eligible personnel |
|
Criteria |
| Field Underwriters |
|
Underwriters must be at 100% of objective and write a minimum of
$3.0 million in Individual New Business Written Premium; and
Individual must meet QA Standard of 87%; and
Specialty Programs must meet its budgeted profit target
(3 Year weighted ROE Goal)
|
|
|
|
|
|
| Program Total Written Premium Objective |
|
Winner's Circle Qualification |
|
Under $8M
$8M - $12.5M
$12.5M - $17.5M
Over $17.5M
|
|
120% of Total WP Objective
115% of Total WP Objective
112% of Total WP Objective
110% of Total WP Objective
|
|
|
| Home Office Underwriting Office and Directors |
|
Achieve aggregate QAT of 85% or better for all assigned territories
Achieve a minimum of 115% of new written premium budget
3-year weighted ultimate accident year loss ratio must meet or
exceed your target
|
|
|
Must be in position as of March 31, 2005.
Must be an employee at the time of the award trip
Cannot be on a verbal or written performance notice
Please note: We recognize that changing business conditions can have an impact on our
expected results.
If this occurs, there will still be a minimum number of winners per segment
based on top sales performances.
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2005 Risk Management
3 Winners
|
| Eligible personnel |
|
Criteria |
| Practice Leaders |
|
Top three Practice Leaders, based on the following criteria:
Greatest increase in total in force book [# accounts in 2005 vs. 2004]
|
|
|
|
|
|
| Minimum Qualifiers |
|
Premium Renewal retention of 90%
Minimum 90% QA standard
|
|
|
|
Must be in position as of March 31, 2005.
Must be an employee at the time of the award trip
Cannot be on a verbal or written performance notice
Please note: We recognize that changing business conditions can have an impact on our
expected results.
If this occurs, there will still be a minimum number of winners per segment
based on top sales performances.
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2005 Marine
|
| Eligible personnel |
|
Criteria |
| Marine Underwriters |
|
Minimum $1.8 million in New Business Written Premium;
and meet 110% of objective
Regional/Branch must meet budgeted 3yr weighted Ultimate
Ac Yr loss ratio goal ex cats
Underwriter must meet QA Standard of 85%.
Underwriters meeting the above minimum requirements and meeting
or exceeding their Total Written Premium Objective will attend
Winners' Circle.
|
|
|
|
|
|
| Total Written Premium Objective |
|
Winner's Circle Qualification |
|
Under $5M
$5M - $7M
Over $7M
|
|
125% of Total WP Objective
115% of Total WP Objective
105% of Total WP Objective
|
|
|
| Marine Managers |
|
Minimum of $3 million in New Business Written Premium;
and meet 110% of objective
Regional/Branch must meet its budgeted 3 year weighted Ultimate
Acc Yr loss ratio goal ex cats
Must have a minimum average underwriter QA score of 85%
Managers meeting the above minimum requirements and meeting
or exceeding their Total Written Premium Objective will attend
Winners' Circle.
|
|
|
|
|
|
| Total Written Premium Objective |
|
Winner's Circle Qualification |
|
Under $10M
$10M - $25M
Over $25M
|
|
125% of Total WP Objective
115% of Total WP Objective
105% of Total WP Objective
|
|
|
|
Must be in position as of March 31, 2005.
Must be an employee at the time of the award trip
Cannot be on a verbal or written performance notice
Please note: We recognize that changing business conditions can have an impact on our
expected results.
If this occurs, there will still be a minimum number of winners per segment
based on top sales performances.
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|
2005 Bond
4 Winners in Total (3 field specialists, 1 Bond Center underwriter)
|
| Eligible personnel |
|
Criteria |
3 Field Specialists with the most accumulated points
1 from each LOB: Contract Surety, Commercial Surety, and Fidelity
|
|
Points accumulated from a Specialist's LOB, in the following manner,
based on end of year results for 2005:
[4 pts] Highest percentage of increase over premium objective
for 2005
[4 pts] Highest percentage of increase over new business objective
for 2005
[4 pts] Highest percentage of premium increase over 2004
[3 pts] Highest percentage of RO premium over 2004
|
|
| Bond Center Underwriter |
|
This last point will include but is not limited to:
BC Management Team to evaluate all Underwriters across
the following categories:
- underwriting skills
- customer service skills
- teamwork
- productivity
- adherence to policies and procedures
- outstanding efforts
|
|
|
Must be in position as of March 31, 2005.
Must be an employee at the time of the award trip
Cannot be on a verbal or written performance notice and rated "Meets Expectations" or better
Please note: We recognize that changing business conditions can have an impact on our
expected results.
If this occurs, there will still be a minimum number of winners per segment
based on top sales performances.
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2005 Personal Insurance
|
| Eligible personnel |
|
Criteria |
| PL STD Sales Reps |
|
Achieve a minimum of $2.75 million New Written Premium
Attain Std. New Business Written Premium% to 2005TBP objective
as follows:
If TBP NB Objective <$3.5 million, then you must achieve
120+% to obj.
If TBP NB Objective >/=$3.5 million, then you must achieve
115+% to obj.
If TBP NB Objective >/=$5.0 million, then you must achieve
110+% to obj.
If TBP NB Objective >/= $7.5 million, then you must achieve
105+% to obj.
Attain STD. Total Written Premium for territory of 105+% to 2004
year end.
Achieve Std Total Incentive Bonus Plan (IBP) 3 year weighted
calendar year loss ratio for sales rep's territory < 60%
|
|
| PL Sales Managers |
|
Total Std PL NB WP 120+% of Regional Office Plan
Total Std PL WP 105+% of Regional Office Plan
Std Auto NB Policy count to Total Std NB Policy Count ratio is
50% or greater (60% in FL and TX)
Std PL Current Accident Year L/R </= to Regional Office Plan
or
Sales Manager with 3 or more Sales Representatives meeting
Winner's Circle criteria.
|
|
|
Must be in position as of March 31, 2005.
Must be an employee at the time of the award trip
Cannot be on a verbal or written performance notice
Please note: We recognize that changing business conditions can have an impact on our
expected results.
If this occurs, there will still be a minimum number of winners per segment
based on top sales performances.
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|
2005 Select Customer (Excluding Florida)
|
| Eligible personnel |
|
Criteria |
| Managers |
|
Must achieve a combined Select Customer New Business Objective
(Traditional + Xpand)
Regional/Branch must exceed a 10% 3-year weighted ROE
Individual must exceed their total combined written premium
objectives for all Select Customer (Traditional & Xpand) based
on the following:
|
|
|
|
|
|
| Written Premium Objective |
|
Winners' Circle Qualification |
|
Over $125M
$100 - $124.9M
Less than $100M
|
|
Meet TWP Objective
104% of TWP Objective
107% of TWP Objective
|
|
|
| SCSR's |
|
Must have a minimum new business combined (Traditional & Xpand)
objective of $3.5 million.
Individual must meet 100% of their new business combined
objective.
Individual must meet or exceed their total combined written
premium objective for all Select Customer (Traditional & Xpand)
based on the following:
|
|
|
|
|
|
| Written Premium Objective |
|
Winner's Circle Qualification |
|
Over $20 Million
$15 - $10 Million
$10 - $15 Million
Under $10 Million
|
|
100% of TWP Objective
105% of TWP Objective
110% of TWP Objective
115% of TWP Objective
|
|
|
|
Must be in position as of March 31, 2005.
Must be an employee at the time of the award trip
Cannot be on a verbal or written performance notice
Please note: We recognize that changing business conditions can have an impact on our
expected results.
If this occurs, there will still be a minimum number of winners per segment
based on top sales performances.
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|
2005 Select Customer (Florida only)
|
| Eligible personnel |
|
Criteria |
| Managers |
|
Regional meets a minimum of 95% - 105% of the combined
Traditional and Xpand Select Customer total written
premium objective.
Regional must produce a 2004 annual ROE of 10% or greater.
|
|
| SCSR's |
|
Individual must meet a minimum of 95% - 105% of their combined
Traditional and Xpand Select Customer total written
premium objective.
Regional must produce a 2004 annual ROE of 10% or greater.
|
|
|
Must be in position as of March 31, 2005.
Must be an employee at the time of the award trip
Cannot be on a verbal or written performance notice
Please note: We recognize that changing business conditions can have an impact on our
expected results.
If this occurs, there will still be a minimum number of winners per segment
based on top sales performances.
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2005 Omni
|
| Eligible personnel |
|
Criteria |
| Omni Sales Reps |
|
Attain Spec. New Business Written Premium of 125+% to 2005
Territory Business Plan
Attain Spec. Total Written Premium for territory of 115+% to 2004
year-end
Achieve calendar year loss ratio below the plan established for the
state/territory by Omni Product Management
|
|
| Omni Sales Managers |
|
Total Omni NB WP 120+% to Manager's Plan
Total Omni WP 105+% to Manager's Plan
Omni - Calendar year loss ratio
|
|
|
Must be in position as of March 31, 2005.
Must be an employee at the time of the award trip
Cannot be on a verbal or written performance notice
Please note: We recognize that changing business conditions can have an impact on our
expected results.
If this occurs, there will still be a minimum number of winners per segment
based on top sales performances.
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|
2005 Payroll Alliance Center
|
| Eligible personnel |
|
Criteria |
| Direct Sales Team |
|
Minimum new business written premium of $1,300,000 for
assigned territory.
Must achieve 115% of their new business written premium objective.
|
|
| Agency Sales Team |
|
Minimum new business written premium of $5 million for
assigned territory.
Must achieve 115% of their new business written premium objective.
|
|
|
Overall Criteria
Must be in position as of March 31, 2005.
PAC must achieve or exceed budgeted 3-year ultimate accident year loss ratio objective.
Candidate must be in good standing and achieve a minimum standard of 87% on QA
Must be an employee at the time of the award trip
Cannot be on a verbal or written performance notice
Please note: We recognize that changing business conditions can have an impact on our
expected results.
If this occurs, there will still be a minimum number of winners per segment
based on top sales performances.
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2005 Individual Risk
3 Winners
|
| Eligible personnel |
|
Criteria |
| Practice Leaders |
|
Exceeds new business goal, by amount higher than average
Higher than average premium retention on Practice Leader renewals
Meet or exceed QA standard of 90%
|
|
|
Must be in position as of March 31, 2005.
Must be an employee at the time of the award trip
Cannot be on a verbal or written performance notice
Please note: We recognize that changing business conditions can have an impact on our
expected results.
If this occurs, there will still be a minimum number of winners per segment
based on top sales performances.
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