Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1311

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 2
Chunk 1311
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Marine343 — — 343 1.2%Package business [1]2,590 — — 2,590 8.7%Commercial property612 — — 612 2.1%Automobile liability1,554 1,727 — 3,281 11.1%Automobile physical damage31 78 — 109 0.4%Professional liability1,577 — — 1,577 5.3%Bond443 — — 443 1.5%Homeowners— 403 — 403 1.4%Asbestos and environmental83 8 224 315 1.1%Assumed reinsurance758 — 71 829 2.8%All other 157 4 393 554 1.9%Total reserves-net26,743 2,220 688 29,651 100.0%Reinsurance and other recoverables4,637 20 2,096 6,753 Total reserves-gross$31,380 $2,240 $2,784 $36,404 

[1]Business Insurance policy packages that include property and general liability coverages are generally referred to as the package line of business.

P&C Loss and Loss Adjustment Expense Reserves, Net of Reinsurance, by Segment as of December 31, 2024For descriptions of the coverages provided under the lines of business shown above, see Part I - Item1, Business.Overview of Reserving for Property and Casualty Insurance ClaimsIt typically takes many months or years to pay claims incurred under a property and casualty insurance product; accordingly, the Company must establish reserves at the time the loss is incurred. Most of the Company’s policies provide for occurrence-based coverage where the loss is incurred when a claim event happens, like an automobile accident, house or building fire or injury to an employee under a workers’ compensation policy. Some of the Company's policies, mostly for directors and officers insurance and errors and omissions insurance, are claims-made policies where the loss is incurred in the period the claim event is reported to the Company even if the loss event itself occurred in an earlier period.Loss and loss adjustment expense reserves provide for the estimated ultimate costs of paying claims under insurance policies written by the Company, less amounts paid to date. These reserves include estimates for both claims that have been reported and those that have not yet been reported, and include estimates