Progressive 2013 Annual Report Download - page 86
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The Progressive Corporation and Subsidiaries
Claims Payment Patterns
(unaudited)
The Progressive Group of Insurance Companies is primarily an insurer of automobiles and recreational vehicles owned by
individuals, and cars and trucks owned and/or operated predominantly by small businesses. As such, our claims liabilities
are generally short in duration. Since our incurred losses consist of both payments and changes in the reserve estimates, it
is important to understand our paid development patterns. The charts below show our claims payment patterns, reflecting
both dollars and claims counts paid, for personal auto physical damage and bodily injury claims, as well as on a total
personal auto basis, in each case calculated from the date of loss. Since physical damage claims pay out so quickly, the
chart is calibrated on a monthly basis, as compared to a quarterly basis for the bodily injury and total auto payments.
Physical Damage
40%
50%
60%
70%
80%
90%
100%
0123456789101112
Months
Percent Paid
Counts Dollars
Bodily Injury
Quarters
Percent Paid
Counts Dollars
0%
20%
40%
60%
80%
100%
1612840
App.-A-86