The Hartford 2015 Annual Report Download - page 53

53
Prior accident year development recorded in 2014
Included within prior accident year development were the following increases (decreases) to reserves:
Year Ended December 31, 2014
Commercial
Lines Personal Lines
Property &
Casualty Other
Operations
Total Property
& Casualty
Insurance
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)
Workers’ compensation discount accretion 30 — — 30
Catastrophes (14)(31) — (45)
Other reserve re-estimates, net 10 (10) 19 19
Total prior accident year development $ 13 $ (46) $ 261 $ 228
During 2014, the Company’s re-estimates of prior accident year reserves included the following significant reserve changes:
• Increased 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.
• Decreased professional liability reserves for accident years 2013, 2012 and 2010 due to lower frequency of reported claims.
• Decreased general liability reserves 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.
• Decreased catastrophe reserves primarily for accident year 2013, as fourth quarter 2013 catastrophes have developed favorably.
• Decreased workers' compensation reserves 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 in net asbestos reserves, net
environmental reserves and other reserve re-estimates, net.