Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 348

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 3
Chunk 348
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 was due to higher than expected claim severity in recent accident years.Unfavorable development in general liability was due to higher than expected claim severity in multiple accident years going back to 2015.Favorable development in workers’ compensation was due to favorable medical trends driving lower than expected severity in multiple accident years.Unfavorable development in other insurance operations was largely associated with legacy mass tort abuse claims.2023Unfavorable development in other professional liability and management liability was primarily due to higher than expected claim severity and frequency in CNA’s professional E&O businesses in multiple accident years.Favorable development in surety was primarily due to lower than expected frequency and lack of systemic activity in multiple accident years.Favorable development in warranty was due to lower than expected loss emergence in a recent accident year.Unfavorable development in commercial auto was due to higher than expected claim severity in CNA’s construction business in a recent accident year.Unfavorable development in general liability was due to higher than expected claim severity in CNA’s construction and middle market businesses across multiple accident years.Favorable development in workers’ compensation was due to favorable medical trends driving lower than expected severity in multiple accident years.Unfavorable development in other insurance operations was largely associated with legacy mass tort abuse claims.2022Unfavorable development in medical professional liability was due to higher than expected large loss activity in multiple accident years.Unfavorable development in other professional liability and management liability was due to higher than expected claim severity and frequency in CNA’s cyber and professional E&O businesses in multiple accident years.Favorable development in surety was primarily due to lower than expected frequency and lack of systemic activity in recent accident years.Favorable development in warranty was due to lower than expected loss emergence in a recent accident year.Unfavorable development in commercial auto and general liability was due to higher than expected claim severity across multiple accident years.Favorable development in workers’ compensation was due to favorable medical trends driving lower than expected severity in multiple accident years.Unfavorable development in other insurance operations was largely associated with legacy mass tort abuse claims, including the Diocese of Rochester proposed settlement.

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Property & Casualty Operations – Line of Business CompositionThe table below presents the net liability for unpaid claim and claim adjustment expenses, by line of business for Property & Casualty Operations:December 312024(In millions)   Medical professional liability$1,425 Other professional liability and management liability3,967 Surety493 Warranty46 Commercial auto1,247 General liability4,356