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London Market exposures are the most uncertain of the three categories of claims. As a participant in the London Market

(comprised of both Lloyd’s of London and London Market companies), certain subsidiaries of the Company wrote business

on a subscription basis, with those subsidiaries’ involvement being limited to a relatively small percentage of a total contract

placement. Claims are reported, via a broker, to the “lead” underwriter and, once agreed to, are presented to the following

markets for concurrence. This reporting and claim agreement process makes estimating liabilities for this business the most

uncertain of the three categories of claims.

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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009