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your future career and success THE FEDERATED OPPORTUNITY

THE FEDERATEDfedins/...exceptional people who possess a vision for what they ... • Conenience v toreS Operators • Farm, Dairy, ... & Tooling • etroleum P Marketers

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your future career and success

THE FEDERATED OPPORTUNITY

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“For more than 110 years, Federated Insurance has provided outstanding career opportunities for exceptional people who possess a vision for what they can become, an integrity that drives them to be the best they can be, and have a deep sense of purpose to be of service to others. The commercial insurance industry is our unique calling. Federated exists to serve the risk management and insurance needs of family owned businesses. These entrepreneurs have risked their own capital to employ people, provide a meaningful product or service to their communities, and ultimately achieve success, also known as the American Dream. Their businesses are complex, the risks they face are ever-changing and their dreams can be dramatically altered in an instant. It is who we are and who we serve that has drawn the unique talent to our organization for careers. Our people thrive in a complex environment that provides millions of dollars of protection, available in a moment’s notice.

To serve the best and the brightest, we must be the best and the brightest. Every role at Federated matters. Every role is important. To win the trust of business owners across the country, we all must do our part exceptionally well. Today, our company is positioned for profitable growth with an A+ superior financial foundation, benefits, and compensation opportunities that reward careers and a culture that supports life-long learning. As you read on, I hope you feel the challenge that lies ahead and see in yourself someone that can enhance the mission that we are on.”

Jeff FettersChairman and CEO

The Federated Opportunity

More Than 110 Years of Innovation In 1904, a group of business people seeking better value for their insurance premium dollars formed Federated Insurance in Minnesota. From the beginning, they adopted safety standards and insured only businesses that met these standards. This emphasis on safety reduced claims and laid the foundation for the fledgling company’s success.

During the mid-twentieth century, Federated became one of the first insurers in the nation to provide property, liability, and health insurance coverage. Combined with well-trained employees, this multiline capability created a business environment that continues to deliver quality insurance products and professional service.

As the twenty-first century approached, Federated enjoyed a period of accelerated growth and financial progress. A new life insurance affiliate was formed, positioning the company to handle virtually all of our clients’ insurance needs. At the turn of the century, Federated focused on earning association and buying group recommendations. But, most importantly, the company established a performance culture that led to unprecedented financial strength.

Thanks to several generations of talented Federated employees, your future career opportunity is firmly grounded in a history of performance, discipline, and financial strength.

FEDERATED’SHistory

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Photos are of Federated's early days of operation.

Not Your Typical Insurance CompanyFederated is not your typical insurance company. We build strong, personal relationships while delivering customized insurance protection and risk management services. This is accomplished through a series of in-person sales and service calls. This personal approach to selling and designing insurance sets us apart from the competition. When business owners purchase coverage from Federated, they get more than a policy. They get a relationship.

We are a “total needs” provider, helping businesses address the wide range of unique risks they face. Specifically, we offer: • Commercial property and casualty coverage • Workers compensation coverage • Life and disability income coverage

As a commercial insurance provider, we serve business clients in select industries including: • Auto Dealers • Auto Parts Stores • Auto Service &

Repair • Building Material Dealers • Cabinet & Custom

Woodworking Shops • Contractors • Convenience Store

Operators • Farm, Dairy, & Industrial

Equipment Dealers

• Funeral Services • Grocery Stores • Jewelry Retailers • Machining, Plastics,

& Tooling • Petroleum Marketers

& Transport • Powersports &

Motorcycle Dealers • Printers • Retail & Wholesale • Tire Dealers

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Photos depict industries Federated served in the early days.

Throughout Federated’s history, our organizational success has been driven by employees with exceptional talents, ideas, and innovations—all working together to benefit our clients, association partners, and employees.

FEDERATED’S Corporate Culture

Become a VIPAt Federated Insurance, leadership is demonstrated through Vision, Integrity, and Purpose. Individuals who possess these qualities are known as VIPs. Our organization is committed to helping employees develop leadership skills and assume greater responsibility in their given roles. Corporately, our Vision is encompassed by annual operational initiatives and major activities; Integrity means serving our clients’ best interests; and our Purpose is to make a positive, lasting impact on businesses across the country.

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As a mutual insurance company, we believe our value is measured

by the success of our clients.

It’s Our Business to Protect Yours®

Federated InsuranceMission

Our Four CornerstonesThe Four Cornerstones help define our corporate culture and create a professional work environment.

EQUITY As an organization, we believe in and are committed to the practice of equity and fair dealing in all our business relationships with policyholders, employees, and the general public.

TEAMWORK We believe Federated’s success is dependent upon teamwork by many people from many disciplines and functions. Acceptance and understanding of this interdependence is to be communicated to and expected of all members of the organization.

INTEGRITY Federated will not deliberately mislead or distort the facts to penalize or take advantage of a prospect or policyholder on pricing, coverage, or service.

RESPECT We are committed to treating people with dignity, courtesy, and respect. Each of us has a right to expect to be treated courteously in our employment; we should treat others in the same fashion.

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Our Guiding ValuesThe following values steer Federated today and forward into the next generation.

PeopleOur paramount principle is recruiting, training, and retaining the very best people. Trust and loyalty are the basis of all we do.

CultureOur culture is based on highly successful performers who pursue continued, life-long learning.

Financial StrengthFinancial strength is our foundation. Sound underwriting, disciplined claims management, and effective marketing direction are the core of our success.

Value MarketingMarketing responsibility rests with all employees in all functions to preserve Federated’s position as an insurer of choice.

DisciplinesThe Federated Business Plan unifies our functional duties around building lasting relationships of trust with clients and business association partners.

Mutual CompanyFederated is built on the mutual business structure, where policyholders, not stockholders, own the company. This allows us to devote our full attention to the best interests of our clients and employees.

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FEDERATED’S Corporate Culture

What Else Makes Federated Different?In the commercial insurance industry, we must compete to turn prospects into policyholders. So how does Federated Insurance stand out from the pack?

Direct Distribution SystemA unique, expertly trained, face-to-face distribution system is one of Federated’s most powerful differentiators. We don’t just sell a policy and walk away. Our employees build relationships with each and every business both before and after the sale.

Customized Coverages and ServicesCustomized coverages and risk management services are another element of our success. We work alongside businesses to develop and implement tailored loss prevention strategies designed to protect their employees, properties, and financial assets.

Association and Buying Group RelationshipsMore than 500 associations and buying groups recommend one or more of Federated’s products to their members. Through these mutually beneficial partnerships we gain industry-specific expertise.

The Business PlanFederated rises above the competition because our employees adhere to a single Business Plan. This step-by-step guide provides direction for successful business cultivation and service. The Plan establishes performance expectations and is a rallying point around which all employees gather in support of our company mission.

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FEDERATED’S Association Marketing

These are just a few of the hundreds of respected associations and buying groups that endorse Federated to their members. Our relationship with these organizations creates a win-win-win situation for Federated, the association, and association members. Through association ties, we gain valuable insight into the industries we serve while also giving marketing representatives a “foot in the door” during their cultivation efforts. Federated has a team of employees, known as Association Risk Management Services (ARMS) account executives and field managers, who manage our relationships with associations and buying groups. These individuals work to support our marketers’ efforts in the field.

Endorsed Member Bene�t

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®

Understanding the Federated Business PlanMarket SurveyThe first step in the Business Plan is a “Market Survey.” A market survey is a complete list of all clients and prospects by type of business and ZIP code in a marketer's territory. The list includes members of all recommending associations and buying groups, as well as any new markets Federated develops.

Territory ProfileThe second step in the Business Plan is the “Territory Profile.” A territory profile is a list of clients by type of business. A quick glance should reveal if the distribution of business types is balanced. Diversification of a territory’s client base creates the best opportunity for a productive and profitable territory.

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FEDERATED’S Business Plan

“As an insurance professional, you will help protect people and their livelihoods. You will have the tools to help people rebuild their lives and replace property when adversity strikes. You will help provide the one thing money can't buy—peace of mind.”

Mike KerrPresident and

Chief Operating Officer

100-60-30The third step in the Business Plan focuses on new business growth. Entitled “100-60-30,” this step establishes performance expectations and directs marketers’ activities on businesses that present the best opportunities for success. The phrase “100-60-30” refers to the marketing goal of cultivating the 100 best businesses in every territory, presenting an insurance proposal to 60 percent of those businesses, and successfully writing 30 percent of the businesses that receive presentations. Marketers must coordinate the efforts of fellow employees to help identify and properly program insurance and risk managment solutions for these prospects.

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Network of Independent Estate Planning Attorneys

Business Succession PlanningMany of the risks facing our clients are unpredictable. However, one thing is certain: the death, disability, or departure of an owner or key employee. Whether planned or unplanned, successfully transitioning a business to the next generation requires legal expertise and funding. Clients can turn to our network of independent business succession and estate planning attorneys, as well as key products such as life and disability income insurance, to help protect the future of their businesses, employees, and families.

24-6The fourth step of the Business Plan outlines marketing representative activity expectations for our Life Company. The “24” refers to the number of new life and disability income insurance policies to be issued annually by each marketing representative. The “6” represents the number of completed attorney visits, per territory, that should be attended by individual business owners each year. Our attorney network brings incredible value to our clients by assisting in business succession planning.

Major Client Service StandardsThe fifth step in the Business Plan is called “Major Client Service Standards.” These standards are a series of four meetings that demonstrate our ongoing commitment to providing value to clients.

Risk Control ReviewSM

During this meeting, marketing representatives provide a comprehensive loss analysis and present Federated’s Loss Side Initiative for the year. Then, using the results of the loss analysis to guide their decision, the client and marketing representative select one additional risk management area to focus on during the year.

Financial Protection ReviewSM

During this meeting, marketing representatives review their clients’ operations, personal life insurance needs, and individual retirement needs. But, of critical importance, they offer to facilitate estate and business succession planning through our independent attorney network.

Annual Client ReviewSM

During this meeting, marketing representatives analyze their clients’ property and casualty insurance needs and risk management programs. The goal of this review is to help business owners identify changes in their business that may affect their insurance coverage needs.

Client Continuation PlanSM

The goal of this meeting is to renew policyholders’ insurance programs and reaffirm our commitment to serving their business in the coming year.

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FEDERATED’S Business Plan

Where Will Your Career Path Take You?During the interview process, you'll have the opportunity to discuss open territory locations available. Following a training period, you will relocate and begin operating in your territory.

As a member of Federated’s marketing force, you will have numerous advancement opportunities. Federated believes in promoting from within and our marketing representatives often move into field and home office management, association account executive positions, and leadership roles throughout the organization.

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Marketing

Marketers are represented by white dots.

24 Hours Face-to-FaceThe sixth step in the Business Plan is called “24 Hours Face-to-Face.” Federated marketing representatives engage in 24 hours of face-to-face time with clients and prospects each week. Forty percent of this face time is dedicated to serving clients, while the other sixty percent is devoted to building relationships with prospects.

Cultivation LoopThe seventh Business Plan step is titled “Cultivation Loop.” Prospect and client cultivation takes place through a series of planned, strategic sales calls designed to build trust and reconfirm your value. During these calls, marketers explore potential risks and share insurance and risk management ideas. Effective cultivation helps convey Federated’s expertise, service, and special coverages.

CLIENT CULTIVATION

LOOP

PROSPECT CULTIVATION

LOOPBuilding Relationships of Trust

Building TrustDemonstrating Expertise

IdentifyingNeeds

Show Benefits

Risk Control ReviewSMFinancial Protection ReviewSM

Annual Client ReviewSM

Client Continuation PlanSM

Today's Client

Tomorrow's Client

Major Client Service Standards

“Federated marketing representatives are intelligent, hard working professionals driven toward success in all that they do. They approach every day with a sense of purpose to have a positive impact on their clients and the communities they serve.”

Nick LowerSenior Vice President –

Director of Insurance Operations

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Value-Added MarketingThe eighth step in the Business Plan is “Value-Added Marketing.” When businesses purchase Federated coverage, they have access to our risk management and underwriting teams, independent estate planning attorney network, Risk Management Resource Center, Federated's Shield Network®, Federated Employment Practices Network®, and the Client Contact Center. They can also attend Federated-facilitated loss prevention and best practices meetings and seminars. All these additional services and resources add to the value of our insurance product and provide clients with more for their premium dollar.

InterdependenceThe final step in the Business Plan is called “Interdependence.” This step focuses on building respectful working relationships with district marketing managers, field services personnel, underwriters, claims personnel, and our support staff who are necessary to make profitable sales.

SuccessThe Business Plan is crowned with the word “Success”—a word that encompasses both the corporate purpose and career objective of the Plan. Although Federated cannot guarantee success, employees who follow these proven steps are positioned to succeed.

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FEDERATED’S Business Plan

PRICE VALUE

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Other Key Federated RolesUnderwritingFederated underwriters apply their knowledge of a prospect’s or policyholder’s business operations, business practices, claims history, and geographic location to determine how much premium Federated must charge to cover the potential risk of insuring their business. The core activities of an underwriter are risk assessment, matching premium to exposure, risk management, and insurance coverage programming. Consistently applying the core activities of underwriting to accounts helps produce profitable results.

ClaimsClaims representatives understand our clients’ policies and know exactly what coverage applies to specific losses. In the event of a loss, policyholders and third parties rely on claims personnel to explain the coverage in layman’s terms. Federated claims representatives then work alongside clients, physicians, attorneys, contractors, auto body repair operations, and many other parties to investigate, evaluate, negotiate, and resolve claims.

Field ServicesField services representatives work with business owners to develop and implement customized risk management practices designed to reduce and/or eliminate claims. Some examples are: properly screening and training employees, identifying safety hazards, and employing a designated risk manager. Field services representatives also gather information about a policyholder’s or prospect’s business by observing, questioning, and listening. Using the information they have gathered, they develop strategies to make the business more profitable by reducing insurance claims.

FEDERATED Interdependence

Regional Risk ManagersRisk ConsultantsRisk AppraisersSpecial Accounts Risk Consultants

Some locations have more than one of�ce.

Field Services Representatives

Claims Service LocationsClaims Field Staff

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Field Claims Representatives

FEDERATEDInterdependence

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Supporting Our Operational Needs Federated has a committed team of professionals working together to support our marketing representatives, including:

ACCOUNTINGAccountants analyze operating results and project future expenses. They are involved in internal auditing, investment accounting, cost accounting, regulatory compliance and report, planning, subsidy accounting, cash management, and evolving corporate initiatives.

ACTUARIALActuaries combine company and industry information with financial and economic concepts to predict future costs. They analyze rating systems, develop or revise rating and statistical plans, and report on results. Information they provide helps set premium rates and prepare for the future.

CLIENT CONTACT CENTERLicensed insurance representatives answer a customer service phone line at our Client Contact Center. They answer client questions and receive claim reports and policy change requests.

CORPORATE COMMUNICATIONSEmployees communicate Federated’s position on issues, manage the company brand, advertise products and services, and convey our Value Difference®.

CORPORATE LEGALThe Legal Department addresses daily legal issues, including contracts, leases, vendors, professional counsel, and litigation.

CORPORATE SERVICESOur Human Resources Department and Physical Services Department manage everything from compensation and benefits, to real estate, equipment, and vehicles.

INVESTMENTSEmployees manage our stocks, bonds, and other investments to ensure safety and return for the security of our policyholders.

INFORMATION SERVICESInformation Services (IS) professionals work in teams to develop, integrate, and support our insurance software and technical infrastructure.

PUBLIC AFFAIRSPublic Affairs fulfills our responsibility to be a good corporate citizen. They coordinate charitable giving, humanitarian events, and promote volunteerism.

RISK MANAGEMENT RESOURCE CENTERThe Risk Management Resource Center (RMRC) provides remote risk management consultation to clients and fulfills related materials requests.

“Our marketing representative is extremely knowledgeable and Federated has a great library of resources. Our industry continues to change in response to DOT and EPA regulations. Having an insurance company that offers employee training and helps you work through government regulations is priceless.”

“In January 1998, our business burned to the ground. We moved into a temporary facility immediately after the fire. We worked in Carhartts® and snow boots. Going through that process you find out what having good insurance means. Our Federated representative was there even before the fire was put out.”

“Federated is more than just our insurance company; they are a true partner. They assist us with identifying potential risks and addressing them, helping us better gain control of our premiums.”

Why Federated?Why insurance? Because it’s a people business. If you want to do something worthwhile, a career in the insurance industry gives you that chance. As a Federated employee, you will help develop protection programs for people and businesses. You will supply the tools to help people rebuild their lives and replace their property after adversity strikes. You will help provide the one intangible thing that money can’t buy—peace of mind.

Insurance is a service industry. Developing trusting relationships becomes far more personal than merely selling a business insurance policy. You will be there during times of uncertainty and distress; times when you may be the single, most important resource to whom people turn for help. You will be there and you will be well rewarded for it.

FEDERATED Bettering Lives Across the Country

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CLIENT TESTIMONIALS