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Reserves for Unpaid Losses and Loss Adjustment Expenses
3 Months Ended
Mar. 31, 2015
Reserves for Unpaid Losses and Loss Adjustment Expenses [Abstract]  
Reserves for Unpaid Losses and Loss Adjustment Expenses

7. Reserves for Unpaid Losses and Loss Adjustment Expenses

 

We recorded $1.1 million of favorable development in reserve estimates during the three months ended March 31, 2015.  The $1.1 million of favorable development recognized during the first quarter of 2015 was attributable to $2.4 million favorable development on claims incurred in the 2014 accident year and $0.4 million of favorable development in the 2011 accident year, partially offset by $0.1 million of unfavorable development in the 2013 accident year, $0.2 million of unfavorable development in the 2012 accident year and $1.4 million of unfavorable development in the 2010 and prior accident years.  Our Standard Commercial P&C business unit accounted for $1.4 million of the favorable development recognized during the first quarter of 2015.  Our Hallmark Select business unit accounted for $0.5 million of the favorable development.  These favorable developments were offset by $0.5 million of unfavorable development in our Personal Lines Segment and $0.3 million of unfavorable development in our E&S Commercial business unit.

 

The favorable development of $1.4 million for our Standard Commercial P&C business unit in the first quarter of 2015 was primarily driven by favorable claims development in our commercial property and general liability lines of business in the 2014 and 2013 accident years.  The favorable development of $0.5 million in our Hallmark Select business unit was attributable to $0.2 million in our general aviation line of business and $0.3 million in our commercial excess liability line of business. The unfavorable development of $0.5 million in our Personal Lines Segment was primarily attributable to the 2014 accident year. The unfavorable development of $0.3 million in our E&S Commercial business unit was attributable to the 2013, 2012 and the 2010 and prior accident years in both commercial auto liability and general liability lines of business, partially offset by favorable development in the 2014 and 2011 accident years in commercial auto liability line of business.

 

 

We recorded $1.2 million of favorable development in reserve estimates during the three months ended March 31, 2014.  The $1.2 million of favorable development recognized during the first quarter of 2014 was attributable to $2.6 million favorable development on claims incurred in the 2013 accident year and $0.3 million of favorable development recognized in the 2011 accident year, partially offset by $1.2 million of unfavorable development recognized in the 2012 accident year and $0.5 million of unfavorable development in the 2010 and prior accident years.  Our Standard Commercial P&C business unit accounted for $1.1 million of the favorable development recognized during the first quarter of 2014.  Our Personal Lines business unit accounted for $0.7 million of the favorable development. Our Hallmark Select business unit accounted for $0.1 million of the favorable development. Our Workers Compensation business unit accounted for $0.1 million of the favorable development.  These favorable developments were offset by $0.8 million of unfavorable development in our E&S Commercial business unit.

 

The favorable development of $1.1 million for our Standard Commercial P&C business unit in the first quarter of 2014 was primarily driven by favorable claims development in our commercial auto liability and general liability lines of business in the 2011 accident year and our general liability line of business in the 2010 and prior accident years.  The favorable development of $0.7 million in our Personal Lines business unit was primarily attributable to the 2013 accident year. The favorable development in our Hallmark Select business unit of $0.1 million was attributable to our general aviation line of business.  The favorable development in our Workers Compensation business unit was attributable to the 2012 and prior accident years.  The unfavorable development in our E&S Commercial business unit was attributable to the 2012 and prior accident years in both commercial auto liability and general liability lines of business, partially offset by favorable development in the 2013 accident year in commercial auto liability lines of business.