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Insurance Liabilities | 9 Months Ended
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Sep. 30, 2020
Insurance Liabilities |
Insurance Liabilities | 5. Insurance Liabilities Liability for Unpaid Claims The liability for unpaid claims is reported in future policy benefits and claims within our consolidated statements of financial position. Activity associated with unpaid claims was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the nine months ended September 30,
​ |  | 2020 |  | 2019
​ | ​ | (in millions)
Balance at beginning of period | ​ | $ | 2,365.5 | ​ | $ | 2,252.7
Less: reinsurance recoverable | ​ |  | 403.8 | ​ |  | 404.3
Net balance at beginning of period | ​ |  | 1,961.7 | ​ |  | 1,848.4
Incurred: | ​ |  | ​ | ​ |  | ​
Current year | ​ |  | 985.5 | ​ |  | 1,009.8
Prior years | ​ |  | 37.9 | ​ |  | 19.9
Total incurred | ​ |  | 1,023.4 | ​ |  | 1,029.7
Payments: | ​ |  | ​ | ​ |  | ​
Current year | ​ |  | 595.7 | ​ |  | 624.6
Prior years | ​ |  | 335.1 | ​ |  | 316.5
Total payments | ​ |  | 930.8 | ​ |  | 941.1
Net balance at end of period | ​ |  | 2,054.3 | ​ |  | 1,937.0
Plus: reinsurance recoverable | ​ |  | 425.4 | ​ |  | 404.7
Balance at end of period | ​ | $ | 2,479.7 | ​ | $ | 2,341.7
​ | ​ | ​ | ​ | ​ | ​ | ​
Amounts not included in the rollforward above: | ​ |  | ​ | ​ |  | ​
Claim adjustment expense liabilities | ​ | $ | 58.0 | ​ | $ | 56.9
​ Incurred liability adjustments relating to prior years, which affected current operations during 2020 and 2019, resulted in part from developed claims for prior years being different than were anticipated when the liabilities for unpaid claims were originally estimated. These trends have been considered in establishing the current year liability for unpaid claims.

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- Definition The entire disclosure related to contractholder funds and future policy benefits and claims. + References No definition available. + Details
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