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Allowance for Expected Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2020
Credit Loss [Abstract]  
Allowance for credit losses on premiums receivable
Premiums Receivable
The following table provides a roll forward of the allowance for expected credit losses of the Company’s premium receivables:
December 31, 2020
Premium Receivables, Net of AllowanceAllowance for Expected Credit Losses
Balance at beginning of period$1,778,717 $21,003 
Cumulative effect of accounting change (1)6,539 
Change for provision of expected credit losses (2)10,239 
Balance at end of period$2,064,586 $37,781 
(1) Adoption of ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326)” See note 3.
(2) Amounts deemed uncollectible are written-off in operating expenses. For the 2020 period, amounts written off totaled $2.8 million.
Allowance for credit losses on reinsurance recoverable The following table provides a roll forward of the allowance for expected credit losses of the Company’s reinsurance recoverables:
December 31, 2020
Reinsurance Recoverables, Net of AllowanceAllowance for Expected Credit Losses
Balance at beginning of period$4,346,816 $1,364 
Cumulative effect of accounting change (1)12,010 
Change for provision of expected credit losses(1,738)
Balance at end of period$4,500,802 $11,636 
(1) Adoption of ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326)” See note 3.
Summary of reinsurance recoverables on paid and unpaid losses
The following table summarizes the Company’s reinsurance recoverables on paid and unpaid losses (not including ceded unearned premiums) at December 31, 2020 and 2019:
December 31,
20202019
Reinsurance recoverable on unpaid and paid losses and loss adjustment expenses$4,500,802$4,346,816
% due from carriers with A.M. Best rating of “A-” or better63.9 %61.2 %
% due from all other carriers with no A.M. Best rating (1)36.1 %38.8 %
Largest balance due from any one carrier as % of total shareholders’ equity1.8 %1.7 %
(1)    Over 94% of such amount is collateralized through reinsurance trusts, funds withheld arrangements, letters of credit or other.
Allowance for credit losses on contractholder receivables The following table provides a roll forward of the allowance for expected credit losses of the Company’s contractholder receivables:
December 31, 2020
Contractholder Receivables, Net of AllowanceAllowance for Expected Credit Losses
Balance at beginning of period$2,119,460 $0 
Cumulative effect of accounting change (1)6,663 
Change for provision of expected credit losses1,975 
Balance at end of period$1,986,924 $8,638 
(1) Adoption of ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326)” See note 3