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These excerpts taken from the HBI 10-K filed Feb 19, 2008. Insurance
Reserves
We maintain insurance coverage for property, workers’
compensation and other casualty programs. We are responsible for
losses up to certain limits and are required to estimate a
liability that represents the ultimate exposure for aggregate
losses below those limits. This liability is based on
management’s estimates of the ultimate costs to be incurred
to settle known claims and claims not reported as of the balance
sheet date. The estimated liability is not discounted and is
based on a number of assumptions and factors, including
historical trends, actuarial assumptions and economic
conditions. If actual trends differ from the estimates, the
financial results could be impacted.
Insurance Reserves We maintain insurance coverage for property, workers’ compensation and other casualty programs. We are responsible for losses up to certain limits and are required to estimate a liability that represents the ultimate exposure for aggregate losses below those limits. This liability is based on management’s estimates of the ultimate costs to be incurred to settle known claims and claims not reported as of the balance sheet date. The estimated liability is not discounted and is based on a number of assumptions and factors, including historical trends, actuarial assumptions and economic conditions. If actual trends differ from the estimates, the financial results could be impacted. This excerpt taken from the HBI 8-K filed Nov 29, 2006. Insurance
Reserves
Prior to the spin off, we were insured through Sara Lee for
property, worker’s compensation, and other casualty
programs, subject to minimum claims thresholds. Because the Sara
Lee programs cover a large number of participants in many
domestic Sara Lee operating units in addition to us, Sara Lee
charges an amount to cover premium costs to each operating unit.
In connection with the spin off which occurred on
September 5, 2006, we obtained our own insurance coverage,
the costs for which are greater than the costs realized as a
participant in Sara Lee’s programs.
This excerpt taken from the HBI 10-Q filed Nov 13, 2006. Insurance
Reserves
Prior to the spin off on September 5, 2006, we were insured
through Sara Lee for property, workers’ compensation, and
other casualty programs, subject to minimum claims thresholds.
Sara Lee charged an amount to cover premium costs to each
operating unit. Subsequent to the spin off on September 5,
2006, we maintain our own insurance coverage for these programs.
We are responsible for losses up to certain limits and are
required to estimate a liability that represents the ultimate
exposure for aggregate losses below those limits. This liability
is based on management’s estimates of the ultimate costs to
be incurred to settle known claims and claims not reported as of
the balance sheet date. The estimated liability is not
discounted and is based on a number of assumptions and factors,
including historical trends, actuarial assumptions, and economic
conditions. If actual trends differ from the estimates, the
financial results could be impacted.
This excerpt taken from the HBI 10-K filed Sep 28, 2006. Insurance
Reserves
Prior to the spin off, we were insured through Sara Lee for
property, worker’s compensation, and other casualty
programs, subject to minimum claims thresholds. Because the Sara
Lee programs cover a large number of participants in many
domestic Sara Lee operating units in addition to us, Sara Lee
charges an amount to cover premium costs to each operating unit.
In connection with the spin off which occurred on
September 5, 2006, we obtained our own insurance coverage,
the costs for which are greater than the costs realized as a
participant in Sara Lee’s programs.
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