XML 64 R14.htm IDEA: XBRL DOCUMENT v3.2.0.727
Reserves for Unpaid Losses and Loss Adjustment Expenses
6 Months Ended
Jun. 30, 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 $0.4 million and $1.5 million of favorable prior years’ loss development during the three and six months ended June 30, 2015, respectively.  For the year to date, the $1.5 million favorable development was attributable to $1.6 million favorable development on claims incurred in the 2014 accident year and $0.6 million favorable development on claims incurred in the 2011 and prior accident years, partially offset by $0.6 million unfavorable development on claims incurred in the 2013 accident year and $0.1 million of unfavorable development on claims incurred in the 2012 accident year.  During the six months ended June 30, 2015, our Standard Commercial P&C business unit accounted for $2.5 million of the favorable development, our Workers Compensation business unit accounted for $0.4 million of the favorable development and our Hallmark Select business unit accounted for $0.9 million of the favorable development.  These favorable developments were partially offset by unfavorable development of $1.1 million in our E&S Commercial business unit and $1.2 million unfavorable development in our Personal Lines Segment during the first half of 2015.  The favorable development for our Standard Commercial P&C business unit of $2.5 million was driven primarily by favorable claims development in our commercial property and general liability lines of business in the 2013 and 2011  and prior accident years. The favorable development of $0.4 million for our Workers Compensation business unit was primarily attributable to the 2013 and 2012 accident years. The favorable development of $0.9 million in our Hallmark Select business unit consisted of $0.5 million of favorable development in our general aviation line of business, $0.3 million of favorable development in our commercial excess liability line of business and $0.1 million of favorable development in our medical professional liability line of business.  The unfavorable development of $1.1 million in our E&S Commercial business unit was primarily driven by unfavorable development in our commercial auto liability and general liability lines of business. The unfavorable development for our Personal Lines Segment of $1.2 million was primarily attributable to the 2014 and 2011 and prior accident years.

 

We recorded $5.6 million and $6.8 million of favorable prior years’ loss development during the three and six months ended June 30, 2014, respectively. For the first half of 2014, the $6.8 million favorable development was attributable to $7.6 million favorable development on claims incurred in the 2013 accident year and $2.5 million favorable development on claims incurred in the 2011 accident year, partially offset by $2.6 million unfavorable development on claims incurred in the 2012 accident year and $0.7 million unfavorable development on claims incurred in the 2010 and prior accident years. During the six months ended June 30, 2014, our Standard Commercial P&C business unit accounted for $3.9 million of the favorable development, our Personal Lines Segment accounted for $1.9 million of the favorable development, our Workers Compensation business unit accounted for $1.2 million of the favorable development and our Hallmark Select business unit accounted for $0.8 million of the favorable development. These favorable developments were partially offset by unfavorable development of $1.0 million in our E&S Commercial business unit during the first half of 2014. The favorable development for our Standard Commercial P&C business unit of $3.9 million was driven primarily by our general liability line of business in the 2011 accident year. The favorable development for our Personal Lines Segment of $1.9 million was primarily attributable to the 2013 accident year. The favorable development of $1.2 million for our Workers Compensation business unit was primarily attributable to the 2013 and 2012 accident years. The favorable development of $0.8 million in our Hallmark Select business unit consisted of $1.0 million of favorable development in our commercial excess liability line of business, partially offset by $0.2 million of unfavorable development in our general aviation line of business. The unfavorable development of $1.0 million in our E&S Commercial business unit was primarily driven by unfavorable development in our commercial auto liability and general liability lines of business.