XML 43 R22.htm IDEA: XBRL DOCUMENT v3.22.4
Commitments And Contingencies
 12 Months Ended
Dec. 31, 2022
Commitments And Contingencies [Abstract]  
Commitments And Contingencies
15.
 
COMMITMENTS AND CONTINGENCIES
In
 
the
 
ordinary
 
course
 
of
 
business,
 
the
 
Company
 
is
 
involved
 
in
 
lawsuits,
 
arbitrations
 
and
 
other
 
formal
 
and
informal
 
dispute
 
resolution
 
procedures,
 
the
 
outcomes
 
of
 
which
 
will
 
determine
 
the
 
Company’s
 
rights
 
and
obligations
 
under insurance
 
and reinsurance
 
agreements.
 
In some
 
disputes,
 
the Company
 
seeks
 
to
 
enforce
 
its
rights under an agreement or to
 
collect funds owing to it.
 
In other matters, the Company
 
is resisting attempts by
others
 
to
 
collect
 
funds
 
or
 
enforce
 
alleged
 
rights.
 
These
 
disputes
 
arise
 
from
 
time
 
to
 
time
 
and
 
are
 
ultimately
resolved through
 
both informal
 
and formal
 
means, including
 
negotiated resolution,
 
arbitration and
 
litigation.
 
In
all such matters,
 
the Company believes
 
that its positions
 
are legally and
 
commercially reasonable.
 
The Company
considers
 
the statuses
 
of these
 
proceedings
 
when determining
 
its reserves
 
for unpaid
 
loss and
 
loss adjustment
expenses.
 
Aside
 
from
 
litigation
 
and
 
arbitrations
 
related
 
to
 
these
 
insurance
 
and
 
reinsurance
 
agreements,
 
the
 
Company
 
is
not a party to any other material litigation
 
or arbitration.
 
The
 
Company
 
has
 
entered
 
into
 
separate
 
annuity
 
agreements
 
with
 
The
 
Prudential
 
Insurance
 
of
 
America
 
(“The
Prudential”)
 
and an
 
additional unaffiliated
 
life
 
insurance
 
company
 
in which
 
the Company
 
has either
 
purchased
annuity
 
contracts
 
or
 
become
 
the
 
assignee
 
of
 
annuity
 
proceeds
 
that
 
are
 
meant
 
to
 
settle
 
claim
 
payment
obligations
 
in
 
the
 
future.
 
In
 
both
 
instances,
 
the
 
Company
 
would
 
become
 
contingently
 
liable
 
if
 
either
 
The
Prudential
 
or the
 
unaffiliated
 
life
 
insurance
 
company
 
were
 
unable to
 
make
 
payments
 
related
 
to
 
the respective
annuity contract.
The
 
table
 
below
 
presents
 
the
 
estimated
 
cost
 
to
 
replace
 
all
 
such
 
annuities
 
for
 
which
 
the
 
Company
 
was
contingently liable for the periods
 
indicated:
At December 31,
(Dollars in thousands)
2022
2021
The Prudential
 
$
137
$
138
Unaffiliated life insurance company
34
35