"Our small commercial business and specialty programme workers' compensation portfolio has offset part of the development observed in commercial auto. In particular, our underwriting initiatives to monitor class code exposure mix and favourable claims operational diagnostics have demonstrated improvement in this portfolio. It is possible that the continuation of these trends could result in future adverse or favourable development that would be significant to our results of operations, liquidity and capital resources," the company said. AmTrust, which specializes in the coverage for small businesses is in the process of being taken private.