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Allowance for Expected Credit Losses | 6 Months Ended
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Jun. 30, 2022
Credit Loss [Abstract] |
Allowance for expected credit losses | Premiums Receivable The following table provides a roll forward of the allowance for expected credit losses of the Company’s premium receivables:
| Premium Receivables, Net of Allowance | Allowance for Expected Credit Losses |
Three Months Ended June 30, 2022 |  |
Balance at beginning of period | $ | 3,223,504 |  | $ | 39,073 |  |
Change for provision of expected credit losses (1) |  | (903) |  |
Balance at end of period | $ | 3,634,182 |  | $ | 38,170 |  |
Three Months Ended June 30, 2021 |  |
Balance at beginning of period | $ | 2,618,175 |  | $ | 36,111 |  |
Change for provision of expected credit losses (1) |  | (132) |  |
Balance at end of period | $ | 2,866,578 |  | $ | 35,979 |  |
Six Months Ended June 30, 2022 |  |  |
Balance at beginning of period | $ | 2,633,280 |  | $ | 39,958 |  |
Change for provision of expected credit losses (1) |  | (1,788) |  |
Balance at end of period | $ | 3,634,182 |  | $ | 38,170 |  |
Six Months Ended June 30, 2021 |  |  |
Balance at beginning of period | $ | 2,064,586 |  | $ | 37,781 |  |
Change for provision of expected credit losses (1) |  | (1,802) |  |
Balance at end of period | $ | 2,866,578 |  | $ | 35,979 |  |
(1)Amounts deemed uncollectible are written-off in operating expenses. For the 2022 second quarter and 2021 second quarter, amounts written off were $3.3 million and $1.1 million, respectively. For the six months ended June 30, 2022 and 2021 period, amounts written off were $4.8 million and $1.2 million, respectively. Reinsurance Recoverables The following table provides a roll forward of the allowance for expected credit losses of the Company’s reinsurance recoverables:
| Reinsurance Recoverables, Net of Allowance |  | Allowance for Expected Credit Losses |
Three Months Ended June 30, 2022 |  |
Balance at beginning of period | $ | 5,941,000 |  |  | $ | 18,483 |  |
Change for provision of expected credit losses |  |  | (3,743) |  |
Balance at end of period | $ | 5,938,511 |  |  | $ | 14,740 |  |
Three Months Ended June 30, 2021 |  |
Balance at beginning of period | $ | 4,041,076 |  |  | $ | 10,872 |  |
Change for provision of expected credit losses |  |  | 157 |  |
Balance at end of period | $ | 4,314,515 |  |  | $ | 11,029 |  |
Six Months Ended June 30, 2022 |  |  |  |
Balance at beginning of period | $ | 5,880,735 |  |  | $ | 13,230 |  |
Change for provision of expected credit losses |  |  | 1,510 |  |
Balance at end of period | $ | 5,938,511 |  |  | $ | 14,740 |  |
Six Months Ended June 30, 2021 |  |  |  |
Balance at beginning of period | $ | 4,500,802 |  |  | $ | 11,636 |  |
Change for provision of expected credit losses |  |  | (607) |  |
Balance at end of period | $ | 4,314,515 |  |  | $ | 11,029 |  |
The following table summarizes the Company’s reinsurance recoverables on paid and unpaid losses (not including ceded unearned premiums):
| June 30, |  | December 31
| 2022 |  | 2021
Reinsurance recoverable on unpaid and paid losses and loss adjustment expenses | $ | 5,938,511 |  | $ | 5,880,735
% due from carriers with A.M. Best rating of “A-” or better | 69.3 | % |  | 69.7 | %
% due from all other rated carriers | 0.1 | % |  | 0.1 | %
% due from all other carriers with no A.M. Best rating (1) | 30.6 | % |  | 30.2 | %
Largest balance due from any one carrier as % of total shareholders’ equity | 7.8 | % |  | 6.7 | %
(1) At June 30, 2022 and December 31, 2021 over 93% and 91% of such amount were collateralized through reinsurance trusts, funds withheld arrangements, letters of credit or other, respectively. Contractholder Receivables The following table provides a roll forward of the allowance for expected credit losses of the Company’s contractholder receivables:
| Contract-holder Receivables, Net of Allowance |  | Allowance for Expected Credit Losses |
Three Months Ended June 30, 2022 |  |
Balance at beginning of period | $ | 1,810,199 |  |  | $ | 3,731 |  |
Change for provision of expected credit losses |  |  | (726) |  |
Balance at end of period | $ | 1,758,018 |  |  | $ | 3,005 |  |
Three Months Ended June 30, 2021 |  |
Balance at beginning of period | $ | 1,919,655 |  |  | $ | 5,853 |  |
Change for provision of expected credit losses |  |  | (1,382) |  |
Balance at end of period | 1,882,948 |  |  | $ | 4,471 |  |
Six Months Ended June 30, 2022 |  |  |  |
Balance at beginning of period | $ | 1,828,691 |  |  | $ | 3,437 |  |
Change for provision of expected credit losses |  |  | (432) |  |
Balance at end of period | $ | 1,758,018 |  |  | $ | 3,005 |  |
Six Months Ended June 30, 2021 |  |  |  |
Balance at beginning of period | $ | 1,986,924 |  |  | $ | 8,638 |  |
Change for provision of expected credit losses |  |  | (4,167) |  |
Balance at end of period | 1,882,948 |  |  | $ | 4,471 |  |

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI https://asc.fasb.org/topic&trid=2196771 + Details
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- References No definition available. + Details
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