The GBLI Board of Directors is composed of well informed and eminent business leaders. They provide the Company with valued guidance that is instrumental to our continued growth and success. The Board and our experienced and motivated senior management team and staff are dedicated to implementing the Company’s strategic vision to be the best-in-class specialty insurance company focused on small to middle market businesses. The Company has exposure to asbestos and environmental (“A&E”) claims. The asbestos exposure primarily arises from the sale of product liability insurance, and the environmental exposure arises from the sale of general liability and commercial multi-peril insurance. In establishing the liability for unpaid losses and loss adjustment expenses related to A&E exposures, management considers facts currently known and the current state of the law and coverage litigation. Liabilities are recognized for known claims (including the cost of related litigation) when sufficient information has been developed to indicate the involvement of a specific insurance policy, and management can reasonably estimate its liability. In addition, liabilities have been established to cover additional exposures on both known and unasserted claims. Estimates of the liabilities are reviewed and updated regularly. Case law continues to evolve for such claims, and uncertainty exists about the outcome of coverage litigation and whether past claim experience will be representative of future claim experience. Included in net unpaid losses and loss adjustment expenses as of December 31, 2022, 2021, and 2020 were IBNR reserves of $18.9 million, $20.1 million, and $27.3 million, respectively, and case reserves of approximately $2.8 million, $1.9 million, and $1.4 million, respectively, for known A&E-related claims.