Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 735

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 9B
Chunk 735
---
820 2022101 496 719 2023116 562 2024129 Total$8,243 Group Life and Accident, excluding Premium WaiverUndiscounted Incurred Losses & Allocated Loss Adjustment Expenses, Net of ReinsuranceFor the years ended December 31,(Unaudited)Incurral Year202220232024IBNR ReservesClaims Reported2022$2,061 $2,053 $2,056 $12 72,225 20232,108 2,092 25 74,958 20242,065 380 59,084 Total$6,213 Cumulative Paid Losses & Allocated Loss Adjustment Expenses, Net of ReinsuranceFor the years ended December 31,(Unaudited)Incurral Year2022202320242022$1,562 $2,018 $2,040 20231,572 2,053 20241,576 Total$5,669 Group life, disability and accident reserves, including IBNRThe majority of Employee Benefits’ reserves are for LTD claimants who are known to be disabled and are currently receiving benefits. A Disabled Life Reserve ("DLR") is calculated for each LTD claim. The DLR for each claim is the expected present value of all estimated future benefit payments and includes estimates of claim recovery, investment yield, and offsets from other income, including offsets from Social Security benefits and workers’ compensation. Estimated future benefit payments represent the monthly income benefit that is paid until recovery, death or expiration of benefits. Claim recoveries are estimated based on claim characteristics such as age and diagnosis and represent an estimate of benefits that will terminate, generally as a result of the claimant returning to work or being deemed able to return to work. The DLR also includes a liability for payments to claimants who have not yet been approved for LTD. In these cases, the present value of future benefits is reduced for the likelihood of claim denial based on Company experience. For claims recently closed due to recovery, a portion of the DLR is retained for the possibility that the claim reopens upon further evidence of disability. In addition, a reserve for estimated unpaid claim expenses is included in the DLR.For incurral years with IBNR claims, estimates of ultimate losses are made by applying completion factors to the dollar amount of claims reported or expected depending on the market segment. IBNR represents estimated ultimate losses less both DLR and cumulative paid amounts for all reported claims. Completion