Humana 2003 Annual Report Download - page 66

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Increased litigation and negative publicity could increase our cost of doing business.
The health benefits industry continues to receive significant negative publicity reflecting the public
perception of the industry. This publicity and perception have been accompanied by increased litigation,
including some large jury awards, legislative activity, regulation and governmental review of industry practices.
These factors may adversely affect our ability to market our products or services, may require us to change our
products or services, may increase the regulatory burdens under which we operate and may require us to pay
large judgments or fines. Any combination of these factors could further increase our cost of doing business and
adversely affect our financial position, results of operations and cash flows.
ITEM 7a. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
The information required by this Item appears in Management’s Discussion and Analysis of Financial
Condition and Results of Operations – Item 7 herein, under the caption “Market Risk-Sensitive Financial
Instruments and Positions.”
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