Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 410

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 410
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 the Business Insurance and Employee Benefits reportable segments as well as the Corporate category. For a discussion regarding the results of the evaluation of older, long-term casualty liabilities reported in the Property & Casualty Other Operations reportable segment, see MD&A - Critical Accounting Estimates, Property and Casualty Insurance Product Reserves, Net of Reinsurance. For a discussion of the allowance for uncollectible reinsurance, see Note 8 – Reinsurance of Notes to Consolidated Financial Statements.

 Reinsurance Recoverables as of December 31,

Property and CasualtyEmployee BenefitsCorporateTotal20242023202420232024202320242023Paid loss and loss adjustment expenses$317 $273 $7 $5 $— $— $324 $278 Unpaid loss and loss adjustment expenses6,381 6,429 284 256 226 244 6,891 6,929 Gross reinsurance recoverables 6,698 6,702 291 261 226 244 7,215 7,207 Allowance for uncollectible reinsurance(72)(100)(1)(1)(2)(2)(75)(103)Net reinsurance recoverables$6,626 $6,602 $290 $260 $224 $242 $7,140 $7,104 

Guaranty Funds and Other Insurance-related AssessmentsAs part of its risk management strategy, the Company regularly monitors the financial strength of other insurers and, in particular, activity by insurance regulators and various state guaranty associations in the U.S. relating to troubled insurers. In all states, insurers licensed to transact certain classes of insurance are required to become members of a guaranty fund.|OPERATIONAL RISKOperational risk is the risk of loss resulting from inadequate or failed internal processes and systems, human error, or from external events.Sources of Operational Risk Operational risk is inherent in the Company's business and functional areas. Operational risks include: compliance with laws and regulations, cybersecurity, business disruption, technology failure, inadequate execution or process management, reliance on model and data analytics, internal fraud, external fraud, third party dependency and attraction and retention of talent.Impact Operational risk can result in financial loss, disruption of our business, regulatory actions or damage to our reputation.Management Responsibility for day-to-day management of operational risk lies within each business unit and functional area. ERM provides an enterprise-wide view of the Company's operational risk on an aggregate basis. E