The Hartford 2011 Annual Report Download - page 198

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
F-63
11. Reserves for Future Policy Benefits and Unpaid Losses and Loss Adjustment Expenses (continued)
The following table presents prior accident years reserve development:
For the years ended December 31,
2011
2010
2009
Auto liability
$
(97)
$
(169)
$
(124)
Professional liability
29
(88)
(127)
Workers’ compensation
171
(70)
(92)
General liability
(40)
(108)
(112)
Package business
(76)
(19)
38
Commercial property
(4)
(16)
—
Fidelity and surety
(7)
(5)
28
Homeowners
(1)
23
18
Net environmental reserves
26
67
75
Net asbestos reserves
294
189
138
All other non-A&E
—
11
35
Uncollectible reinsurance
—
(30)
(40)
Change in workers' compensation discount, including accretion
38
26
24
Catastrophes
37
11
(23)
Other reserve re-estimates, net
(3)
(18)
(24)
Total prior accident years development
$
367
$
(196)
$
(186)
Net unfavorable reserve development in 2011 primarily included the following:
• a strengthening of reserves for workers’ compensation reserves, for accident years 2008 to 2010;
• a strengthening of asbestos and environmental reserves;
• partially offset by a release of auto liability claims for accident years 2006 to 2010; and
• also offset by a release of package business liability coverages in accident years 2005 to 2009.
Net favorable reserve development in 2010 primarily included the following:
• a release of reserves for auto liability, claims, for accident years 2002 to 2009;
• a release of reserves for professional liability claims, for accident years 2004 to 2008;
• a release of general liability claims, primarily related to accident years 2005 to 2008;
• a release of workers’ compensation reserves related to accident years 2006 and 2007; and
• partially offset by a strengthening of asbestos and environmental reserves.
Net favorable reserve development in 2009 primarily included the following:
• a release of reserves for professional liability claims, for accident years 2003 to 2008;
• a release of general liability claims, primarily related to accident years 2003 to 2007;
• a release of workers’ compensation reserves; and
• partially offset by a strengthening of asbestos and environmental reserves.