Company: JLL
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001037976-25-000006
Chunk: 162

Company: JONES LANG LASALLE INC
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 162
---
MENTS AND CONTINGENCIESWe are a defendant in various litigation matters arising in the ordinary course of business, some of which involve claims for damages that are substantial in amount. Many of these litigation matters are covered by insurance (including insurance provided through a consolidated captive insurance company as further discussed below), but they may nevertheless be subject to large deductibles and the amounts being claimed may exceed the available insurance. Although we cannot determine the ultimate liability for these matters, based upon information currently available, we believe the ultimate resolution of such claims and litigation will not have a material adverse effect on our financial position, results of operations or liquidity.Professional Indemnity Insurance To better manage our global insurance program and support our risk management efforts, we supplement our traditional insurance coverage for certain types of claims by using a wholly-owned captive insurance company. The level of risk retained by us, including our captive insurance company, with respect to professional indemnity claims, is up to $10.0 million per claim. We contract third-party insurance companies to provide coverage of risk in excess of this amount. When a potential loss event occurs, we estimate the ultimate cost of the claim and accrue the amount in Other current and long-term liabilities on our Consolidated Balance Sheets when probable and estimable. In addition, we have established receivables from third-party insurance providers for claim amounts in excess of the risk retained by our captive insurance company. As of December 31, 2024 and 2023, these receivables were $0.5 million and $2.5 million, respectively, and are included in Notes and other receivables on our Consolidated Balance Sheets.

107

The following table shows the professional indemnity accrual activity and related payments.(in millions)December 31, 2021$1.2 New claims1.3 Prior year claims adjustments (including foreign currency changes)(0.1)Claims paid(0.2)December 31, 20222.2 New claims7.0 Prior year claims adjustments (including foreign currency changes)5.2 Claims paid(5.0)December 31, 20239.4 New claims1.0 Prior year claims adjustments (including foreign currency changes)1.0 Claims paid(7.2)December 31, 2024$4.2 DUS Program Loan Loss-SharingAs a participant in the DUS program, we retain a portion of the risk of loss for loans that are originated and sold under the