The Hartford 2014 Annual Report Download - page 49

Prior accident years development recorded in 2014
Included within prior accident years development were the following loss and loss adjustment expense reserve strengthenings (releases):
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 


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
Auto liability $ 23 $ 2 $ — $ 25
Homeowners — (7) — (7)
Professional liability (17) — — (17)
Package business 3 — — 3
General liability (25) — — (25)
Bond 8 — — 8
Commercial property 2 — — 2
Net asbestos reserves — — 212 212
Net environmental reserves — — 30 30
Workers’ compensation (7) — — (7)
Change in workers’ compensation discount, including
accretion 30 — — 30
Catastrophes (14) (31) — (45)
Other reserve re-estimates, net 10 (10) 19 19
        
During 2014, the Company’s re-estimates of prior accident years reserves included the following significant reserve changes:
•Strengthened reserves in commercial auto liability due to an increased frequency of severe claims spread across several accident years.
• Homeowners reserves emerged favorably for accident year 2013, primarily related to favorable development on fire and water-related claims.
• Released reserves in professional liability for accident years 2013, 2012 and 2010 due to lower frequency of reported claims.
• Released reserves in general liability due to lower frequency in late emerging claims.
• Bond reserves emerged favorably for accident years 2008 to 2013, offset by adverse emergence on reserves for accident years 2007 and prior.
• Released reserves primarily for accident year 2013 catastrophes as fourth quarter 2013 catastrophes have developed favorably.
• Released reserves in workers' compensation for recent accident years due to improved frequency and lower estimated claim handling costs.
• Refer to the Property & Casualty Other Operations Claims section for discussion of the increase to net asbestos reserves, net environmental reserves
and other reserve re-estimates, net.
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