Petsmart 2014 Annual Report Download - page 27
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levels of risk, such as risks associated with earthquakes, hurricanes, or terrorist attacks, we may determine that we cannot
obtain commercial insurance at acceptable prices. Therefore, we may choose to forgo or limit our purchase of relevant
commercial insurance, choosing instead to self-insure one or more types or levels of risks. Provisions for losses related to self-
insured risks are based upon independent actuarially determined estimates. We maintain stop-loss coverage to limit the
exposure related to certain risks. The assumptions underlying the ultimate costs of existing claim losses are subject to a high
degree of unpredictability, which can affect the liability recorded for such claims. Similarly, changes in legal trends and
interpretations, as well as a change in the nature and method of how claims are settled can impact ultimate costs. Although our
estimates of liabilities incurred do not anticipate significant
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