The Hartford 2014 Annual Report Download - page 206

Table of Contents
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

The following table presents (favorable) unfavorable prior accident years reserve development:

  
Auto liability $ 25 $ 144 $ (25)
Homeowners (7) (6) (32)
Professional liability (17) (29) 40
Package business 3 2 (20)
General liability (25) (75) (87)
Bond 8 (8) (9)
Commercial property 2 (7) (8)
Net asbestos reserves 212 130 48
Net environmental reserves 30 12 10
Uncollectible reinsurance — (25) —
Workers’ compensation (7) (2) 78
Workers’ compensation - NY 25a Fund for Reopened Cases — 80 —
Change in workers’ compensation discount, including accretion 30 30 52
Catastrophes (45) (63) (66)
Other reserve re-estimates, net $ 19 $ 9 $ 15
      
Net unfavorable reserve development in 2014 primarily included the following:
• a strengthening in commercial auto liability reserves, for several accident years;
• a strengthening of net asbestos reserves driven by the annual ground-up asbestos reserve evaluation;
• partially offset by a release of general liability reserves due to lower frequency in late emerging claims ; and
• also offset by a release of professional liability reserves, for accident years 2010, 2012 and 2013; and
• also offset by a release of catastrophe reserves primarily for accident year 2013.
Net unfavorable reserve development in 2013 primarily included the following:
• a strengthening in commercial auto liability reserves, for accident years 2010 to 2012;
• a strengthening related to the closing of the New York Section 25A Fund for Reopened Cases (the "Fund");
• a strengthening of net asbestos reserves driven by the annual ground-up asbestos reserve evaluation;
• partially offset by a release of general liability reserves, for accident years 2006 to 2011; and
• also offset by a release of professional liability reserves, for accident years 2008 to 2012; and
• also offset by a release of catastrophe reserves primarily related to Storm Sandy.
Net favorable reserve development in 2012 primarily included the following:
• a release of general liability reserves, for accident years 2006 to 2008;
• a release of catastrophes, primarily related to the 2001 World Trade Center worker's compensation claims;
• partially offset by a strengthening of reserves for workers’ compensation reserves, for accident years 2009 to 2011; and
• also offset by a strengthening of asbestos and environmental reserves.
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